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A.P. Moller–Maersk upgraded its 2024 outlook with strong third-quarter earnings of $15.8 billion
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EBITDA is at $4.8 billion and EBIT at $3.3 billion
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The better earnings comes at the heels of a strong third quarter combined with higher container market demand and the ongoing Red Sea situation
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For the full year 2024, the outlook for the global container market volume growth has been revised to 6% compared to the previous projection of between 4% and 6%
A.P. Moller–Maersk (APMM) upgraded its outlook for 2024 with strong third-quarter performance.
The company posted gross earnings of $15.8 billion for the third quarter, based on preliminary unaudited figures.
For the same period, underlying earnings before interest, taxes, depreciation and amortization (EBITDA) is at $4.8 billion while underlying earnings before interest and taxes (EBIT) is at $3.3 billion, the same amount earlier reported, APMM said in a statement.
APMM now expects EBITDA for 2024 to be between $11 billion and $11.5 billion, an improvement over the earlier projection of between $9 billion and $11 billion.
The better earnings comes at the heels of a strong third quarter combined with higher container market demand and the ongoing Red Sea situation.
EBIT for 2024 is expected to be between $5.2 billion and $5.7 billion against the earlier projected $3 billion to $5 billion.
Further, free cash flow of at least $3 billion is seen vis-a-vis the previous $2 billion.
For the full year 2024, the outlook for the global container market volume growth has been revised to 6% compared to the previous projection of between 4% and 6%.
