MNI BRIEF: BOJ's Noguchi Sees "Not Too Distant" Rate Hike

MNI BRIEF: ECB's De Guindos Calls For EU Retail Saving Product

MNI BRIEF: BOJ's Ueda Says Markets Unstable, Vigilance Needed

MNI NBP WATCH: Rates Held As Energy, Wages Push Up Prices

MNI BRIEF: NBP Keeps Key Interest rates unchanged

MNI BRIEF: Turkish Inflation Expectations Ease As CBRT Holds

MNI:AUSTRALIA AUG TRADE BALANCE A$+5644

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR +3.89M TO 416.9M SEP 27 WK

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Maersk (MAERSK; Baa1/BBB+) FY guidance upgrades

TRANSPORTATION
Credit BulletsBulletHomepagemarkets-real-timeCredit
  • "MAERSK SEES FY UNDERLYING EBITDA $9B TO $11B, SAW $7B TO $9B
  • MAERSK SEES FY UNDERLYING EBIT $3B TO $5B, SAW $1B TO $3B" - bbg
  • FCF of at least $2b, saw at least $1b

To say the co is having a year of upgrades would be a understatement; in Feb it was guiding to EBITDA of $1-6b and EBIT loss of -$5b to flat and FCF >neg. $5b. At the midpoints its boosted that by +190-270% and FCF by +$7b. Red sea disruptions the obvious fuel but it seems like its being met with supportive demand.

97 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • "MAERSK SEES FY UNDERLYING EBITDA $9B TO $11B, SAW $7B TO $9B
  • MAERSK SEES FY UNDERLYING EBIT $3B TO $5B, SAW $1B TO $3B" - bbg
  • FCF of at least $2b, saw at least $1b

To say the co is having a year of upgrades would be a understatement; in Feb it was guiding to EBITDA of $1-6b and EBIT loss of -$5b to flat and FCF >neg. $5b. At the midpoints its boosted that by +190-270% and FCF by +$7b. Red sea disruptions the obvious fuel but it seems like its being met with supportive demand.