Skip to content
Grazia British
Maersk lifts full-year profit guidance range, posts Q3 profit above forecast

Maersk lifts full-year profit guidance range, posts Q3 profit above forecast

By Kim Browne

Culture

Shipping group AP Moller-Maersk on Thursday (Nov 6) reported third-quarter operating profit above expectations and raised the lower end of its full-year profit forecast.

Maersk said underlying earnings before interest, tax, depreciation and amortization, or Ebitda, fell 44 per cent year-on-year in the third quarter to US$2.69 billion, above the US$2.58 billion expected by analysts in a poll gathered by the company.

The company said it now expects Ebitda this year to be between US$9 billion and US$9.5 billion, up from its previous guidance of US$8 billion to US$9.5 billion.

“We have delivered a strong third quarter across our business,” CEO Vincent Clerc said in a statement. “As market conditions fluctuate, we are well-positioned to help our customers adapt and maintain stability across their supply chains.” REUTERS

Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

More Culture

Maersk lifts full-year profit guidance range, posts Q3 profit above forecast | Grazia British