Nov 11 (Reuters) – German container shipping company Hapag-Lloyd on Wednesday raised its full-year earnings outlook for the third time this year, citing strength in freight rates and a stronger-than-expected performance in the fourth quarter.
The stock was up 2.4% at 0925 GMT.
The upgrade adds to a series of positive outlook revisions across the European logistics sector, where resilient global trade, elevated shipping rates and persistent supply-chain disruptions have supported earnings and boosted profitability.
Hapag-Lloyd now expects full-year earnings before interest and tax of $2.0 billion to $2.4 billion, up from previous expectations of $1.25 billion to $1.75 billion.
The company also lifted its 2026 earnings before interest, tax, depreciation and amortisation guidance to $4.6 billion to $5.0 billion, from $3.9 billion to $4.4 billion previously.
The latest increase follows earlier upgrades in July and September, reflecting sustained strength in container shipping markets and management’s improved expectations for year-end trading.
(Reporting by Amir Orusov, editing by Thomas Seythal and Louise Heavens)
Comments