Shares of Zim Integrated Shipping Services (ZIM) are moving higher after the company released its second quarter earnings, easily beating estimations on both the top and bottom line and posting revenue of $1.93 billion, against expectations of $1.78 billion with adjusted earnings per share of $3.08.
Market Domination Anchors Josh Lipton and Julie Hyman break down the latest developments for Zim and what it could mean for the cargo company moving forward.
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This post was written by Nicholas Jacobino
Video Transcript
Our last trending ticker Zim integrated shipping services that a soaring today after beating on earnings, it also raised its full year guidance, signaling confidence and continued demand for its services.
Despite broader economic concerns, the shares up 17.5% and it is really based shipping company here.
And the Ceo Eli Glickman saying in the that the results in the second half would be better in the first than the first half.
Um There is continued supply pressure related to the Red Sea crisis.
He says combined with current favorable demand trends now like the other one, if you pull back this chart, five years, like many shipping companies um soared during the pandemic because its services were needed.
There were supply chain crunches.
Um And since then has come down, but it has just about doubled this year.
Also, I mean, it’s still tremendous.
I mean, it’s year to date tremendous move for this company.
If they are on track, the company says to achieve double digit volume growth target in 24 well positioned, they say to drive profit growth ahead bulls on the stock, talking about how revenues jumped sequentially by 370 million operating costs.
As I see rose increased operating costs rose increased just 52 million.
So big jump in free cash flow, we always point out, but I mean, that chart is incredible even just year to day something.
Yes.
