Hong Kong's SITC nine-month revenue rises on higher freight rates

SITC International Holdings

22/10/2026 05:26

Overview
Hong Kong container shipper's preliminary nine-month revenue rose 14.2% yr/yr
Container shipping volume rose 5.9%, average freight rate up 9.4% yr/yr
Company declared special dividend of HK$1.00 per share

Outlook
Company did not provide specific guidance for future quarters or the full year in the press release

Result Drivers
HIGHER FREIGHT RATES - Co said average freight rate rose 9.4% yr/yr to US$825.9 per TEU
INCREASED SHIPPING VOLUME - Co reported container shipping volume rose 5.9% yr/yr to 2,912,117 TEUs

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
9M Revenue
 
$2.81 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the marine freight & logistics peer group is "buy."
Wall Street's median 12-month price target for SITC International Holdings Co Ltd is HK$41.30, about 15.2% below its October 21 closing price of HK$48.68
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 10 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)