Danish shipping and logistics company A.P. Moller-Maersk A/S (AMKAF.PK) reported Thursday that its third-quarter net income Group share surged to $3.05 billion from last year's $521 million. Earnings per share were $193, up from $31 last year.
Underlying profit was $3.10 billion, compared to $489 million a year ago.
Profit before tax climbed to $3.26 billion from prior year's $691 million.
In the quarter, underlying EBIT grew to $3.32 billion from $450 million a year ago. Underlying EBIT margin improved to 21.1 percent from 3.7 percent last year.
Underlying EBITDA improved to $4.80 billion from $1.91 billion in the previous year. Underlying EBITDA margin improved to 30.4 percent from 15.7 percent a year earlier.
Revenue, as announced earlier, was $15.76 billion, up 30 percent from prior year's $12.13 billion.
On October 21, the company raised its fiscal 2024 guidance, citing strong third-quarter results combined with strong container market demand and the continuation of the Red Sea/Gulf of Aden situation.
The company now expects underlying EBITDA to be in the range of $11.0 billion to $11.5 billion and EBIT of $5.2 billion to $5.7 billion. Previously, the company expected annual underlying EBITDA to be in the range of $9 billion to $11 billion and EBIT of $3 billion to $5 billion.
The projected growth outlook for global container market volume in 2024 has been adjusted to approximately 6 percent, compared to previous estimate of 4 percent-6 percent.
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