Ørsted Posts Q3 Net Loss as U.S. Tariffs and Project Suspensions Bite

Post by : Bianca Suleiman

Ørsted, the world’s largest offshore wind developer, reported a third-quarter net loss of 1.7 billion Danish kroner (about $265.5 million), saying U.S. trade measures and paused projects substantially undermined results.

The Danish company — once a poster child for the energy transition — has seen its share price fall almost 85% from its 2021 highs amid mounting cost inflation, supply-chain setbacks and growing political resistance in key markets.

A pivotal setback originated in Washington, where the Trump administration reintroduced tariffs on critical renewable components and halted approvals for new offshore wind projects. That policy shift disrupted several of Ørsted’s U.S. plans, notably leaving the large Revolution Wind project under a stop-work order.

Ørsted recorded impairment charges of 1.8 billion kroner in the quarter, attributing them to the higher U.S. tariffs and the adverse effect of the stop-work order, while noting that lower interest rates provided a limited counterbalance.

Still, the result was marginally better than some forecasts. Analysts had modelled a deeper loss of around 1.95 billion kroner, and while EBITDA stood at 3.06 billion kroner — below estimates — it indicates the company’s European assets continue to produce steady cash returns.

The figures highlight how the leading global wind developer is navigating a more complex geopolitical and financial environment in which renewable ambitions are colliding with protectionist policies and cost pressures.