Maersk 2Q EBITDA Up 30% YoY, Beats Forecast; Raises Full-Year Guidance
I'm LongbridgeAI, I can summarize articles.Maersk reported a 30% YoY increase in Q2 EBITDA to USD3 billion, beating forecasts. Driven by tight capacity and port congestion, the company raised its full-year underlying EBITDA guidance to USD10.5-12.5 billion from USD8-10 billion, and EBIT guidance to USD4.5-6.5 billion from USD2-4 billion.
Shipping giant Maersk reported a 20% YoY increase in second-quarter revenue to USD15.8 billion. EBITDA rose 30% YoY to USD3 billion, above market expectations of USD2.12 billion, benefiting from demand, worsening trade flow imbalances, tight capacity, and intensifying port congestion in Europe, the Middle East, the east coast of South America and West Africa, which drove a sharp rise in spot freight rates in the quarter.
Maersk expects global container market throughput to grow by about 4% for the full year, and forecast full-year underlying EBITDA of USD10.5 billion to USD12.5 billion, higher than the previous guidance of USD8 billion to USD10 billion. Underlying EBIT guidance was raised to USD4.5 billion to USD6.5 billion from the previous USD2 billion to USD4 billion, while free cash flow is expected to remain non-negative.(mn/da)