Maersk Stock Jumps 5% as Q2 Profit Doubles and Guidance Raised

TLDR

• Maersk $MAERSK B stock jumped over 5% after Q2 profit more than doubled to $1.31 billion, beating expectations.
• Revenue rose 20% to $15.76 billion; EBITDA of $2.99 billion beat analyst consensus by 44%.
• The Ocean division led the way, with EBIT surging to $935 million from $229 million a year ago.
• Full-year EBITDA guidance was raised to $10.5B-$12.5B, up from $8B-$10B.
• Morgan Stanley still rates the stock “underweight” with a price target implying around 43% downside.

Maersk posted Q2 profit of $1.31 billion, more than double the $639 million it reported in the same period last year. The stock climbed over 5% on Thursday following the results.

A.P. Møller – Mærsk A/S, AMKAF

Revenue for the quarter came in at $15.76 billion, up 20% year-on-year. EBITDA hit $2.99 billion, compared to $2.30 billion a year earlier, beating analyst consensus by 44% according to Morgan Stanley Research.

The Ocean division was the clear standout. EBIT there surged to $935 million from just $229 million a year ago, driven by higher freight rates and solid volumes.

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