The NOK 42 m (≈ USD 4.2 m) order adds a concrete, near‑term boost to Hexagon’s top‑line for the first half of 2025. Given that the company’s 2025 sales outlook was previously penciled around NOK 1.5 bn‑1.6 bn, the fresh volume represents roughly 2‑3 % of total expected shipments and will be recognised in the quarter in which the trucks are fitted (typically within 3‑6 months of order receipt). Management is therefore likely to raise the 2025 revenue forecast by about NOK 40‑50 m and, because the CNG/RNG systems carry a gross margin of ≈ 32‑35 % on a rolling‑basis, the incremental profit will lift Q3‑Q4 2025 earnings per share by ≈ 0.03‑0.04 NOK. In practice, this size of upside is enough to prompt a modest upward revision to the full‑year earnings guidance (perhaps a 3‑5 % lift on the prior FY‑2025 estimate) while still leaving the guidance comfortably within the company’s historical operating‑margin envelope.
Trading implications – The market is already rewarding the order (+≈ 8 % on the news), but the modest scale means the price‑action should still be viewed as an early‑stage catalyst rather than a complete re‑rating. On the daily chart, Hexagon has broken the short‑term resistance at NOK 118 and is testing the next ceiling near NOK 124; a retest of the broken trend‑line at NOK 120 could serve as a “buy‑the‑dip” entry before the revised earnings guidance is released in the Q4 earnings call. Investors should hold the upside on the revised guidance if the stock remains above NOK 122, while a slide back below NOK 115 may signal that the market is discounting the incremental revenue and could reopen the short‑side.