ZIM Integrated Shipping rises on Q4 results beat

Zim Integrated Shipping Services

13/03/2023 12:23

** U.S.-listed shares of cargo transportation services
company ZIM Integrated Shipping Services  ZIM.N  up 12.2% at
$21.98 in premarket trade
    **  Co report Q4 revenue of $2.19 bln, above Wall Street
estimates of $2.11 bln
    ** While macroeconomic uncertainties, decline in freight
rates over past few months and supply-demand imbalance continue
to drive challenging near-term outlook for container shipping,
we are confident in ZIM's strategy and believe we will generate
positive EBIT in 2023 - CEO Eli Glickman
    ** Co reports Q4 EPS of $3.44, beating Refinitiv estimates
of $3.05
    ** ZIM up 13.85% YTD

 (Reporting by Tanya Jain)
 ((Tanya.Jain@thomsonreuters.com))