In this news, we discuss the Maersk hikes earnings outlook on improved demand.
Shipping giant Maersk raised its profit outlook for the year on Tuesday following a pickup in demand and measures to improve costs, the company said in a business update. Maersk now expects annual earnings before interest, taxes, depreciation and amortization (EBITDA) of between $ 7.5 billion and $ 8.0 billion before restructuring and integration costs, from an earlier range of 6.0 to 7 , 0 billion dollars.
The company also said it expects restructuring costs of around $ 100 million in the third quarter. related to layoffs of around 2,000 employees.
- Maersk Boosts Profit Outlook on Improved Demand