Moeller-Maersk upgraded estimates as freight rates continue to rise amid supply chain problems.
The Danish shipping company said it now expects underlying EBITDA of $37 billion versus previous estimates of $30 billion, while underlying earnings before interest and taxes are expected at $31 billion from $24 billion previously.
Congestion in global supply chains that led to higher fares has been going on for longer than initially expected, the company said.
Fiscal 2022 cash flow is expected to be higher at $24 billion versus previous estimates of more than $19 billion, while cumulative capital expenditures for 2022-2023 are still expected at $9-10 billion .
Maersk, which formally announces its results on Wednesday, said revenue in the quarter rose to $21.7 billion, underlying EBITDA to $10.3 billion and underlying earnings before interest and tax to 8.9 billion dollars.
The consensus estimates compiled by the company called for second-quarter revenue of $19.7 billion, underlying EBITDA of $8.19 billion and underlying earnings before interest and taxes of $7.08 billion.
Source: Capital
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