Orsted swings to quarterly net loss amid Trump’s offshore wind battle
A turbine blade is lifted onto a rack near tower sections at the Revolution Wind project assembly site at State Pier in New London, Connecticut, US, on Friday, Oct. 24, 2025.
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Danish renewables giant Orsted on Wednesday reported a quarterly net loss as the beleaguered company continues to battle U.S. President Donald Trump’s anti-wind policies.
The world’s biggest offshore wind farm group posted a net loss of 1.7 billion Danish kroner ($261.8 million) for the July-September period. The result, which was slightly better than analysts feared, was significantly down from profit of 5.17 billion Danish kroner in the same period last year.
Orsted flagged third-quarter impairment costs of nearly 1.8 billion Danish kroner.
The company, however, reiterated its full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance of 24-27 billion Danish kroner, excluding earnings from new partnerships and cancellation fees.
It comes shortly after the company announced it had reached a deal to sell a 50% stake in its Hornsea 3 offshore wind farm in the U.K. to Apollo Global Management in a deal worth $6 billion.
“I’m satisfied with the good progress across our entire construction portfolio and our solid operational performance,” Orsted CEO Rasmus Errboe said in a statement.
“Our key focus is to continue delivering on our business plan, which will enable Ørsted to remain a global leader of offshore wind with a strong foothold in Europe,” he added.
Shares of Orsted were 1.2% higher on Wednesday morning. The stock price has fallen sharply this year amid concerted efforts from the White House to halt several ongoing developments and suspend new licensing.
