ZIM Integrated Shipping Services Ltd. (ZIM) shares are declining more than 15 percent on Monday morning trade after the company reported first-quarter net loss of $58 million or $0.50 per share compared to profit of $1.71 billion or $14.19 per share last year.
Revenue for the quarter declined to $1.37 billion from $3.72 billion in the prior year. Wall Street analysts were looking for $1.57 billion.
The global container liner shipping company reaffirmed its full-year 2023 guidance.
Currently, shares are at $14.71, down 15.99 percent from the previous close of $17.51 on a volume of 6,363,822.
For comments and feedback contact: editorial@rttnews.com
Business News