According to Maersk’s preliminary unaudited figures for Q3 2024, the Danish shipping company reported revenue of USD 15.8 billion, surpassing analyst expectations of USD 14.4 billion, as reported by Reuters. The company also reported underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) of USD 4.8 billion, well above the USD 3.7 billion forecast by analysts.
In response to these strong results, Maersk revised its full-year 2024 forecast. The company now expects underlying EBITDA to be between USD 11.0 billion and USD 11.5 billion, up from its previous guidance of USD 9 billion to USD 11 billion, according to both Maersk’s official statement and Reuters. Similarly, earnings before interest and tax (EBIT) are now projected to range from USD 5.2 billion to USD 5.7 billion, compared to an earlier forecast of USD 3 billion to USD 5 billion.
Additionally, Maersk increased its forecast for global container market volume growth to approximately 6% for 2024, up from the previously estimated range of 4% to 6%, citing strong market demand. This marks the fourth time the Danish shipping giant has raised its forecast.
The ongoing situation in the Red Sea, where attacks by Iran-aligned Houthi militants have disrupted shipping routes, has played a significant role in driving up freight rates and causing congestion in Asian and European ports. This disruption, combined with strong demand, has been a key factor in Maersk’s improved financial outlook, as reported by Reuters.
Maersk will release its full Q3 results on 31 October 2024.