ZIM Surges With $1.93 B in Revenue, Q2 Double Beat

Tokenist · 2024-08-19T12:03:02.000Z

Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions. ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) has reported a substantial turnaround in its financial performance for the second quarter of 2024. The company generated revenues of $1.93 billion, marking a 48% increase from the $1.31 billion reported in the same quarter last year. This surge in revenues was primarily driven by an increase in freight rates and carried volume. ZIM carried a record 952 thousand TEUs in Q2 2024, an 11% year-over-year increase, with the average freight rate per TEU rising 40% to $1,674. The company’s net income for the quarter was $373 million, a significant improvement from the net loss of $213 million in Q2 2023. This translated to diluted earnings per share (EPS) of $3.08, compared to a diluted loss per share of $1.79 in the previous year. Operating income (EBIT) for the quarter was $468 million, a stark contrast to the operating loss of $168 million reported in Q2 2023. Adjusted EBITDA also saw a remarkable year-over-year increase of 179%, reaching $766 million, while Adjusted EBIT was $488 million, compared to an Adjusted EBIT loss of $147 million last year. ZIM Outperforms EPS and Revenue Expectations in Q2 ZIM’s second-quarter performance exceeded market expectations by a notable margin. Analysts had anticipated an EPS of $1.78 and revenues of $1.76 billion. However, the company delivered an EPS of $3.08 and revenues of $1.93 billion, surpassing the earnings expectations by 73% and revenue expectations by 9.7%. Higher-than-expected freight rates drove this outperformance and carried volumes, as well as the company’s strategic decision to increase its spot market exposure in the Transpacific trade, which allowed it to capitalize on elevated rate environments. The company’s Adjusted EBITDA margin for Q2 2024 was 40%, up from 21% in the same quarter last year. Similarly, the Adjusted EBIT margin improved to 25% from -11% in Q2 2023. Net cash generated from operating activities also saw a significant increase, reaching $777 million, compared to $347 million in the second quarter of the previous year. Join our Telegram group and never miss a breaking story. ZIM Raises Full Year 2024 Guidance, Expects Adj. EBITDA Between $2.6 B to $3.0 B ZIM has raised its full-year 2024 guidance, reflecting its confidence in continued strong performance. The company now expects to generate Adjusted EBITDA between $2.6 billion and $3.0 billion, up from the previous guidance of $1.15 billion to $1.55 billion. Similarly, the guidance for Adjusted EBIT has been increased to a range of $1.45 billion to $1.85 billion, from the earlier forecast of zero to $400 million. This upward revision is attributed to favorable demand trends and the company’s strategic initiatives, including its increased spot market exposure and capacity enhancements. Eli Glickman, ZIM’s President and CEO, expressed optimism about the company’s future prospects, citing the ongoing newbuild program and the delivery of fuel-efficient containerships, including LNG-powered vessels. Glickman highlighted that the company is on track to achieve its double-digit volume growth target for 2024 and is well-positioned to drive profitable growth ahead. Disclaimer: The author does not hold or have a position in any securities discussed in the article. The post ZIM Surges with $1.93 B in Revenue, Q2 Double Beat appeared first on Tokenist.

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ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) 报告称，其 2024 年第二季度的财务业绩出现大幅好转。该公司的收入为 19.3 亿美元，较去年同期的 13.1 亿美元增长 48%。收入激增主要是由于运费和运载量的增加。ZIM 在 2024 年第二季度运载了创纪录的 95.2 万标准箱，同比增长 11%，每标准箱的平均运费上涨 40% 至 1,674 美元。
该公司本季度的净收入为 3.73 亿美元，较 2023 年第二季度的 2.13 亿美元净亏损有显著改善。这相当于每股摊薄收益 (EPS) 为 3.08 美元，而去年每股摊薄亏损为 1.79 美元。本季度的营业利润 (EBIT) 为 4.68 亿美元，与 2023 年第二季度报告的 1.68 亿美元营业亏损形成鲜明对比。调整后的 EBITDA 也实现了 179% 的同比增长，达到 7.66 亿美元，而调整后的 EBIT 为 4.88 亿美元，而去年调整后的 EBIT 亏损为 1.47 亿美元。
ZIM 第二季度每股收益和收入超出预期
ZIM 的第二季度业绩大幅超出市场预期。分析师预计每股收益为 1.78 美元，营收为 17.6 亿美元。然而，该公司的每股收益为 3.08 美元，营收为 19.3 亿美元，超出盈利预期 73%，超出营收预期 9.7%。高于预期的运费推动了这一优异表现和运输量，以及该公司增加跨太平洋贸易现货市场敞口的战略决策，这使其能够利用高运费环境。
该公司 2024 年第二季度的调整后 EBITDA 利润率为 40%，高于去年同期的 21%。同样，调整后的 EBIT 利润率从 2023 年第二季度的 -11% 提高到 25%。经营活动产生的净现金也大幅增加，达到 7.77 亿美元，而去年第二季度为 3.47 亿美元。
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ZIM 上调 2024 年全年业绩预期，预计调整后 EBITDA 介于 26 亿美元至 30 亿美元之间
ZIM 已上调其 2024 年全年业绩预期，反映出其对持续强劲表现的信心。该公司目前预计调整后 EBITDA 将在 26 亿美元至 30 亿美元之间，高于之前预期的 11.5 亿美元至 15.5 亿美元。同样，调整后 EBIT 的预期也从早先预测的 0 至 4 亿美元上调至 14.5 亿美元至 18.5 亿美元。此次上调归因于有利的需求趋势和公司的战略举措，包括增加现货市场曝光率和提高产能。
ZIM 总裁兼首席执行官 Eli Glickman 对公司的未来前景表示乐观，他指出，公司正在进行新船建造计划，并交付了包括液化天然气动力船在内的节能集装箱船。Glickman 强调，公司有望实现 2024 年两位数的运量增长目标，并有望在未来推动盈利增长。
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《ZIM 营收飙升 19.3 亿美元，第二季度业绩双双超出预期》一文最先出现在 Tokenist 上。

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