Maersk raises guidance on strong container market demand [Yahoo! Finance]
ZIM Integrated Shipping Services Ltd. Ordinary Shares (ZIM)
Company Research
Source: Yahoo! Finance
The news boosted shares of ZIM Integrated Shipping Services by over 8%. Based on preliminary figures for Q3 2024, Maersk reported revenue of $15.8 billion, with underlying EBITDA at $4.8 billion and EBIT at $3.3 billion. The company attributed its strong results to robust container market demand. On the back of strong third-quarter results combined with strong container market demand and the continuation of the Red Sea situation, Maersk raised its full-year 2024 forecast. The company now expects underlying EBITDA to range between $11.0 billion and $11.5 billion, up from the prior range of $9 billion to $11 billion. Additionally, EBIT guidance has been raised to $5.2 billion to $5.7 billion, compared to the previous forecast of $3 billion to $5 billion. Free cash flow projections were also revised upward, with Maersk now targeting at least $3 billion, an increase from the previous $2 billion outlook. The company's improved outlook is bolstered by a revised global contain
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ZIM
News
- ZIM Integrated Shipping Services Third Quarter 2024 Earnings: Beats Expectations [Yahoo! Finance]Yahoo! Finance
- ZIM Q3 Earnings, Revenues Beat Estimates: Here's How to Play the Stock [Yahoo! Finance]Yahoo! Finance
- Why Zim Integrated Shipping Services Inched Higher Today [Yahoo! Finance]Yahoo! Finance
- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) had its "hold" rating re-affirmed by analysts at Jefferies Financial Group Inc.. They now have a $25.00 price target on the stock.MarketBeat
- ZIM Reports Financial Results for the Third Quarter of 2024; Raises Full Year 2024 Guidance [Yahoo! Finance]Yahoo! Finance
ZIM
Earnings
- 11/20/24 - Beat
ZIM
Sec Filings
- 11/22/24 - Form 144
- 11/21/24 - Form 144
- 11/20/24 - Form 6-K
- ZIM's page on the SEC website