The parent company of the ocean carrier Maersk has provided an update on its financial guidance for the third quarter, revealing impressive numbers. A.P. Møller-Maersk A/S, based in Copenhagen, Denmark, announced that it expects to report revenue of $15.8 billion, underlying EBITDA of $4.8 billion, and underlying EBIT of $3.3 billion for the third quarter of 2024.
Due to strong third-quarter results, high demand in the container market, and ongoing issues in the Red Sea, the company has raised its full-year 2024 financial estimates. It now anticipates underlying EBITDA of $11 billion-$11.5 billion and EBIT of $5.2 billion-$5.7 billion, with free cash flow of $3 billion. The company has had to reroute vessels due to attacks by Houthi rebels in the Red Sea, leading to increased costs.
Moller has adjusted its volume growth outlook for the global container market to around 6% for 2024, up from a previous estimate of 4%-6%. The company will release its full third-quarter results on October 31.
This year, the company has updated its 2024 estimates multiple times due to a strong market. For more articles by Stuart Chirls, visit the provided link.
