January 17, 2019 / 5:55 AM / a month ago

Top fish farmer Mowi warns Q4 earnings to miss forecast

OSLO, Jan 17 (Reuters) - Mowi, the world’s largest fish farmer, warned of lower-than-expected fourth-quarter earnings on Thursday as its salmon output lagged forecasts.

Previously known as Marine Harvest, Mowi expects operational earnings before interest and tax of 211 million euros ($240.18 million) for the October-December quarter, missing a forecast of 224 million euros in a Reuters poll of analysts.

The company’s output stood at 106,000 tonnes, lagging its own estimate of 110,500 tonnes as well as the average forecast of 111,000 tonnes predicted by analysts.

The company did not say why production had been lower than its own forecast. A full earnings report is due on Feb. 13. ($1 = 0.8785 euros) (Reporting by Terje Solsvik; Editing by Subhranshu Sahu)

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