ZIM Integrated Shipping Services Ltd. (ZIM) reported earnings for its first quarter that increased from last year
The company's bottom line totaled $295.3 million, or $2.45 per share. This compares with $90.3 million, or $0.75 per share, last year.
The company's revenue for the period rose 28.5% to $2.007 billion from $1.562 billion last year.
ZIM Integrated Shipping Services Ltd. earnings at a glance (GAAP) :
-Earnings: $295.3 Mln. vs. $90.3 Mln. last year.-EPS: $2.45 vs. $0.75 last year.-Revenue: $2.007 Bln vs. $1.562 Bln last year.
Total revenues were mainly driven by the increase in freight rates and carried volume.
For the first quarter, the Board will pay a regular cash dividend of $0.74 per share on June 9 to holders of record of ZIM shares as of June 2.
Looking ahead, for fiscal 2025, the company has reaffirmed its outlook and continues to expect to post adjusted EBITDA of $1.6 billion to $2.2 billion and adjusted EBIT of $350 million to $950 million.
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