New Zealand King Salmon has doubled its EBITDA guidance for FY26, now forecasting NZ$19–27 million (USD$11–16m), up from the previous range of NZ$9–15m.
EBIT guidance has also shifted sharply, moving from a NZ$3m loss-to-NZ$3m profit range to a new range of NZ$10–18m, the company said.
Chief executive Carl Carrington attributed the improvement to better-than-forecast fish survival. “Mortality levels over summer have been lower than forecast and feed-out rates have remained strong, which has resulted in the company having more fish to sell, and an overall improvement in fish size and quality,” Carrington said.
A new summer feed diet, developed from trials in the prior financial year, was a key contributor. Stronger operational execution at its Marlborough Sounds sea farms also played a role.
Expected FY26 harvest of whole gilled and gutted king salmon (Oncorhynchus tshawytscha) has increased to 5,800–6,100 tonnes, up from the prior guidance of 5,500–5,900 tonnes.
Higher biomass reduces unit costs across farming and processing, and allows the company to direct more fish into premium products and markets.
Directors widened the guidance range to account for external uncertainty. Air freight availability and cost into key markets, and production and supply chain costs tied to global oil price movements, were cited as risks linked to the Middle East conflict.
New Zealand King Salmon will release half-year results in late May, alongside a full performance update for H1 FY26.
