Maersk stock slides after Q2 profit plunge amid red sea disruptions [Yahoo! Finance]
Crescent Energy Company (CRGY)
Company Research
Source: Yahoo! Finance
At 5:11 am (0911 GMT), Maersk was trading 1.6% lower at DKK 10,430. The company's profit fell 45.1% compared to last year. This is mainly due to ongoing disruptions in global supply chains caused by the Red Sea crisis. Despite reporting a significant improvement in EBIT margin to 7.5% from 1.4% in the first quarter, the overall profitability fell sharply compared to the same period last year. The Red Sea crisis has led to increased operating costs and necessitated rerouting of shipping lanes, notably impacting Maersk. “Market demand has been strong, and as we have all seen, the situation in the Red Sea remains entrenched, which leads to continued pressure on global supply chains,” said Vincent Clerc, chief executive at Maersk in a statement. "These conditions are now expected to continue for the remainder of the year,” he added. The company said it saw volume growth across all segments, including ocean, logistics and services, and terminals. However, the pressures from th
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CRGY
News
- Crescent Energy (NYSE: CRGY) had its "outperform" rating re-affirmed by analysts at Evercore ISI. They now have a $17.00 price target on the stock.MarketBeat
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- Crescent Energy (NYSE: CRGY) is now covered by analysts at JPMorgan Chase & Co.. They set a "neutral" rating and a $12.00 price target on the stock.MarketBeat
- Crescent Energy (NYSE: CRGY) had its price target lowered by analysts at Mizuho from $14.00 to $13.00. They now have a "neutral" rating on the stock.MarketBeat
CRGY
Earnings
- 8/5/24 - Beat
CRGY
Sec Filings
- 9/24/24 - Form SD
- 9/9/24 - Form 4
- 9/9/24 - Form 4
- CRGY's page on the SEC website