July 13, 2026 06:56 AM GMT Kongsberg Gruppen ASA | Europe M Update 2Q26 Results: Weak On Margin and B2B Slowdown; FY26 Guidance Confirmed Reaction to earnings Unchanged Modest shortfall Modest revision lower Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Key Takeaways Our View: We believe 2Q26 results are soft due to 1) a slowdown in B2B ratio compared to the last 2 quarters (at 1.6x compared to 1Q26 at 2.9x and ...