Maersk Lifts Profit Forecast Again After Strong Third Quarter

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Maersk erhöht nach drittem Quartal erneut Gewinnprognose
Maersk erhöht nach drittem Quartal erneut Gewinnprognose from

Maersk Lifts Profit Forecast Again After Strong Third Quarter

Copenhagen, 26 October 2022:

A.P. Moller-Maersk (MAERSKb.CO) raised its full-year profit guidance on Wednesday helped by strong quarterly results and higher freight rates.

The Danish shipping and logistics group now expects underlying earnings before interest, tax, depreciation, and amortization (EBITDA) in a range of $37 billion to $39 billion this year, up from a previous forecast of $34 billion to $37 billion.

Freight Rates Bolster Performance

Key Highlights:

Maersk's strong performance was driven by continued high freight rates, which have been boosted by supply chain disruptions and strong consumer demand.

The company's ocean shipping business, which accounts for the majority of its revenue, saw a 37% increase in revenue to $18.2 billion in the third quarter.

Outlook Remains Positive

Despite concerns about a potential economic slowdown, Maersk remains optimistic about the outlook for the global shipping industry.

The company said it expects demand for its services to remain strong in the coming quarters, supported by continued supply chain disruptions and geopolitical tensions.

However, Maersk also warned that it could face challenges in the future, including rising inflation, currency fluctuations, and labor shortages.

Analyst Commentary:

"Maersk's results show that the shipping industry is still benefiting from the strong demand and elevated freight rates," said Lars Jensen, an analyst at SeaIntelligence Consulting.

"However, the company is right to be cautious about the future, as the global economy is facing a number of challenges," he added.

Maersk's shares rose by 2% in early trading on Wednesday following the announcement of the results.