Maersk, a bellwether for global trade, on Thursday smashed profit forecasts and raised its full-year earnings guidance for a second time this year as the Middle East conflict and strong demand pushed freight rates higher.
Financial Performance
Maersk’s profit before interest, taxes, depreciation and amortisation (EBITDA) for April to June stood at $3.0 billion, against a median forecast of $2.12 billion in a company-provided poll of 11 analysts, up from $2.30 billion a year ago.
The company now expects underlying EBITDA of between $10.5 billion and $12.5 billion, up from a previous $8 billion to $10 billion, and underlying operating profit between $4.5 billion and $6.5 billion, up from a previous $2 billion to $4 billion.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
