ZIM Integrated Shipping Services Ltd. (ZIM) Misses Q2 EPS by 87c; offers guidance

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) reported Q2 EPS of ($1.79), $0.87 worse than the analyst estimate of ($0.92). Revenue for the quarter came in at $1.31 billion versus the consensus estimate of $1.35 billion.

Guidance:

As previously announced on July 12, 2023, the Company expects to generate Adjusted EBITDA of between $1.2 billion and $1.6 billion and Adjusted EBIT loss of $500 to $100 million. This guidance reflects continued weakness in freight rates across all the Company\'s trades, particularly in the Transpacific, which the Company expects to continue during the second half of 2023. Volume growth is also expected to be lower than originally forecasted, as demand continues to be subdued.

For earnings history and earnings-related data on ZIM Integrated Shipping Services Ltd. (ZIM) click here.

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