ZIM - Why Is ZIM Integrated Shipping Stock Falling Today? | Benzinga
ZIM Integrated Shipping Services Ltd (NYSE:ZIM) shares are trading lower after it reported a first-quarter FY24 sales increase of 14% Y/Y to $1.56 billion, missing the consensus of $1.57 billion.
The Haifa, Israel-based company generated an EPS of $0.75, vs a loss of $0.50 last year and missing the consensus of $1.69.
Carried volume in the quarter was 846 thousand TEUs, up 10% Y/Y. The average freight rate per TEU was $1,452 (+4% Y/Y).
Adjusted EBITDA rose 14% Y/Y to $427 million, with margins of 27% same as the prior year quarter.
ZIM’s total cash ...