Reach Subsea Q2 2026 slides: profit doubles on remote tech gains

Reach Subsea reported record-breaking financial performance in Q2 2026, with revenue increasing by 44% year-over-year to NOK 988.1 million and EBIT more than doubling to NOK 192.4 million. The company's shares rose 11.31% following the presentation, indicating investor confidence in both near-term execution and the long-term potential of remote offshore operations.

The Q2 results were driven by improved fleet utilization and the growing commercial validation of Reach Subsea's Reach Remote autonomous operations platform, which accumulated approximately 750 uncrewed operations days during the quarter. The company's CEO, Jostein Alendal, highlighted that strategic investments in fleet capacity and technology platforms are now translating into improved financial performance, with the Reach Remote division having matured from a validation phase into proven commercial deployment.

Brief written by urgent.news from Investing.com's own syndicated text. Machine-written — may contain errors; check the original before relying on it.