A turbine blade is lifted onto a rack near the tower section at the Revolution Wind Project assembly site at State Pier in New London, Connecticut, USA, on Friday, October 24, 2025.
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Danish renewable energy giant Orsted reported a quarterly net loss on Wednesday as the beleaguered company continues to battle U.S. President Donald Trump’s anti-wind policies.
The world’s largest offshore wind group posted a net loss of 1.7 billion Danish kroner ($261.8 million) in the July-September period. The result was slightly better than analysts had feared, but it was still significantly lower than the previous year’s profit of 5.17 billion Danish kroner.
Orsted recorded impairment charges of nearly DKK 1.8 billion in the third quarter.
However, the company reiterated its full-year forecast for earnings before interest, taxes, depreciation, and amortization (EBITDA) of 24 billion to 27 billion Danish kroner, excluding revenue from new partnerships and cancellation fees.
This comes shortly after the company announced it had reached an agreement to sell a 50% stake in Britain’s Hornsea 3 offshore wind farm to Apollo Global Management in a deal valued at $6 billion.
“We are pleased with the good progress and solid operational performance across our construction portfolio,” Orsted CEO Rasmus Arbaugh said in a statement.
“Our main focus is to continue to execute on our business plan, which will enable Orsted to gain a strong foothold in Europe and remain the world leader in offshore wind power,” he added.
Orsted stock rose 1.2% on Wednesday morning. Stocks have plummeted this year amid a concerted effort by the White House to halt some ongoing developments and suspend new licenses.
Vestas shares a pop
Meanwhile, Danish wind turbine company Vestas reported better-than-expected third-quarter profits.
The company said on Wednesday that operating profit for the July-September period was 416 million euros ($477.8 million), beating the 305 million euros expected by analysts in the company’s consensus.
Vestas’ shares surged more than 14% on the news, propelling it to the top of the pan-European Stoxx 600 index as investors cheered signs of a turnaround after years of losses.
Asked about headwinds facing the wind industry, particularly from the Trump administration, Vestas CEO Henrik Andersen said the company has an “established” supply chain in the United States.
“For us, we see both American customers and American construction as part of our core responsibility to support America,” Andersen said Wednesday on CNBC’s “Squawk Box Europe.”
“I might get a bit of a kick out of it sometimes because not everyone likes the nature of wind turbines, but I generally think that energy drives decision-making and the cost of energy drives decision-making,” he added.
