ZIM Integrated Shipping Services (ZIM) has released an update.
ZIM Integrated Shipping Services Ltd. has reported strong financial results for Q1 2024, with a net income of $92 million—a significant turnaround from a net loss in the same period last year. Revenue rose to $1.56 billion, underpinned by a 14% increase in carried volume and a 4% hike in average freight rates. Bolstered by these positive trends, ZIM has raised its full-year guidance, projecting an Adjusted EBITDA of $1.15 to $1.55 billion and an Adjusted EBIT of up to $400 million, while also declaring a $0.23 per share dividend.
For further insights into ZIM stock, check out TipRanks’ Stock Analysis page.
