- Orsted bonds have dropped significantly due to abandoned wind projects and a $4 billion writedown.
- The company’s bonds had been among the biggest movers on the day before some of the widening was pared.
- Spreads on Orsted’s sterling denominated 2.5% note due May 2033 widened 11.6 basis points to 178.2 basis points. This is the biggest widening of spread on a closing basis since Sept. 6, 2022.
- Spreads on the company’s euro denominated 3.25% note due September 2031 widened 10.3 basis points to 170.4 basis points. This is the biggest widening of spread on a closing basis since Aug. 30.
- Orsted’s adjusted net income for the third quarter plunged to a loss of 22.6 billion kroner, compared with the average analyst estimate of a 11.1 billion-krone loss.
- The company has decided to stop the development of the Ocean Wind 1 and 2 developments.
- Orsted shares have also slumped, going down as much as 22%.
A look at Orsted AS Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 2 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Orsted A/S provides utility services and operates offshore wind farms around the world. According to the Smartkarma Smart Scores, the company has a long-term outlook of 4 out of 5 for value, dividend, and growth. Resilience is rated at 3, and momentum is rated at 2. This suggests that Orsted A/S is a reliable and stable company with good potential for growth.
Overall, Orsted A/S has a positive long-term outlook. The company has a solid track record of providing utility services and developing and operating offshore wind farms around the world. With its good scores for value, dividend, and growth, Orsted A/S is well-positioned to continue providing reliable services and delivering value to its customers.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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