Maersk ups full year earnings forecast

The Danish shipping company said it’s unaudited revenues for Q2 2024 were $12.8 billion and an underlying EBITDA of $2.1 million and EBIT of $765 million.

Maersk also announced it was upping its full year earnings forecast, “Due to the continued supply chain disruption caused by the situation in the Red Sea, which is now expected to continue at least until the end of 2024, coupled with robust container market demand”.

It’s forecast of underlying EBITDA for full year 2024 has been raised $9 - $11 billion, from $7 - $9 billion previously, and expected EBIT to $3 - $5 billion compared to $1 - $3 billion previously.

Reflecting increased demand full year container volume outlook has been revised to 4 – 6% compared to 2.5 – 4.5% previously.

However, the company cautioned that trading conditions remained subject to hogher than normal volatility, “given the unpredictability of the Red Sea situation and the lack of clarity of supply and demand in Q4.”

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Maersk is not the only container to raise its profit forecast this week. Ocean Network Express (ONE) has raised its profit guidance for FY 2024 ended 31 March 2025 to $2.75 billion from $1 billion previously.