ZIM - Zim Integrated Q1 earnings: 23 cents a share dividend announced

2024-05-21 07:16:12 ET

Zim Integrated Shipping Services Ltd (NYSE: ZIM) is trading down in premarket on Tuesday after reporting worse than expected per-share earnings for its fiscal first quarter.

This is a developing story. Figures missing below will be updated as received!

Zim Integrated’s guidance for the future

The stock is taking a hit even though the cargo transport company raised its guidance for the full year.

now forecasts its adjusted EBITDA to fall between $1.15 billion and $1.55 billion in 2024. Eli Glickman – chief executive of the New York listed firm said in a press release today:

The cargo transport company ended the quarter with million in cash and billion of net debt. Zim Integrated stock is currently up nearly 100% versus its year-to-date low.

Zim Integrated Q1 earnings snapshot

Earned $92 million that translates to 75 cents a share

Had $58 million of loss (50 cents per share) a year ago

Adjusted EBITDA popped 14% as per the earnings report

Revenue also jumped 14% year-over-year to $1.56 billion

Consensus was $1.14 a share loss on $1.56 billion revenue

Zim Integrated saw carried volume decline % in the fourth quarter while average freight rate per TEU was down % in Q4. CEO Glickman also said on Wednesday:

This is a developing story. Check back in a few minutes for more updates!

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