Zim Integrated Shipping Services Up 13.64% To $22.18 After Earnings Beat

Monday, March 13, 2023 - Zim Integrated Shipping Services (ZIM) reported upside earnings and revenues today.

Zim Integrated Shipping Services's earnings came in at an EPS of $3.44 per share, 13.00% higher than estimates for an EPS of $3.05 per share. The firm's earnings are down 76% since reporting $14.17 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $2.2 billion. That represents a 36.84% decrease in revenues from the year-ago report and is 3.74% higher than consensus estimates set at $2.1 billion.

The stock is up 13.64% to $22.18 after the report.

Zim Integrated Shipping Services's profit margins took a hit as earnings fell at a faster pace than revenues.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 39. Meanwhile, the average Wall Street analyst rated the stock a Hold.

ZIM Integrated Shipping Services Ltd is an asset-light container liner shipping company. It offers tailored services, including land transportation and logistical services, specialized shipping solutions, including the transportation of out-of-gauge cargo, refrigerated cargo, and dangerous and hazardous cargo. Its services include Cargo Services, Digital Services, Schedules, and Shipping Trades and Lines. Geographically, it derives a majority of revenue from the Pacific.