Maersk shares rise 5% after FY guidance hike

AP Moeller - Maersk A/S

Tue 08:14

** Shares in AP Moeller Maersk MAERSKb.CO rise 5% after the Danish shipper raised its full-year guidance
** It now expects FY underlying EBITDA of $8-10 billion compared to the previous $4.5-7 billion and underlying EBIT of $2-4 billion, up from negative $1.5-1 billion
** Maersk also sees FY free cash flow of at least negative $1.5 billion compared to the previous forecast of negative $3 billion
** The shipper bases this outlook on a volume growth outlook for the global container market of about 4%, from previous 2-4% for FY 2026
** Jyske Bank analyst Haider Anjum says the hike is "largely driven by temporary factors and the war in the Middle East," supporting freight rates and earnings in the short term
** He adds that a guidance hike at this stage is still "a surprise", especially its "magnitude," given the normalization of Red Sea shipping will help lower freight rates significantly, impacting earnings
** The oil price shock will affect consumer purchasing power and demand with a delay, "so the strong volume growth may have 'evaporated' later this year," he says
** Bernstein notes it remains unclear how much demand was brought forward ahead of potential tariffs and surcharges compared to actual demand
** Shares were up 5% at 0705 GMT, among top STOXX 600 .STOXX movers, if gains hold
     
     

(Reporting by Vera Dvorakova)
((vera.dvorakova@thomsonreuters.com))