Maersk lifts full-year profit guidance range, posts Q3 profit above forecast

[COPENHAGEN] Shipping group AP Moller-Maersk on Thursday (Nov 6) reported third-quarter operating profit above expectations and raised the lower end of its full-year profit forecast.

Maersk said underlying earnings before interest, tax, depreciation and amortization, or Ebitda, fell 44 per cent year-on-year in the third quarter to US$2.69 billion, above the US$2.58 billion expected by analysts in a poll gathered by the company.

The company said it now expects Ebitda this year to be between US$9 billion and US$9.5 billion, up from its previous guidance of US$8 billion to US$9.5 billion.

“We have delivered a strong third quarter across our business,” CEO Vincent Clerc said in a statement. “As market conditions fluctuate, we are well-positioned to help our customers adapt and maintain stability across their supply chains.” REUTERS