Orkla Asa (OTCMKTS:ORKLY) Trading 6.1% Higher After Strong Earnings

Orkla Asa (OTCMKTS:ORKLY)’s stock price shot up 6.1% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $13.7755 and last traded at $13.7350. 10,447 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 42,611 shares. The stock had previously closed at $12.94.

The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. Orkla Asa had a net margin of 16.06% and a return on equity of 13.96%. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.85 billion.

Orkla Asa Stock Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.71. The business has a fifty day simple moving average of $11.53 and a two-hundred day simple moving average of $10.99.

About Orkla Asa

Orkla ASA (OTCMKTS: ORKLY) is a leading Norwegian industrial group with a strong focus on branded consumer goods, aluminium solutions and strategic investments. Founded in 1654 as a regional copper mine in Orkdal, Trøndelag, the company has evolved over centuries into a diversified conglomerate headquartered in Oslo. Orkla’s portfolio spans fast-moving consumer goods, including food, snacks, confectionery and personal care products, alongside advanced aluminium solutions and financial investments in select industries.

Within its branded consumer goods division, Orkla operates several business areas: Orkla Foods, Orkla Confectionery & Snacks, Orkla Care and Orkla Food Ingredients.