Hapag-Lloyd Shares Slide on Downbeat Guidance
09 Noviembre 2023 - 3:20AM
Noticias Dow Jones
By Adria Calatayud
Hapag-Lloyd shares fell after the company guided for full-year
earnings at the lower end of its previous outlook ranges and
cautioned that it would face challenges if spot freight rates don't
recover.
At 0846 GMT on Thursday, shares in the German shipping company
traded 4.5% lower at EUR112, taking its year-to-date loss to
37%.
Hapag-Lloyd now expects earnings before interest, taxes,
depreciation and amortization for the full year to be between 4.1
billion and 5 billion euros ($4.39 billion-$5.36 billion), and
earnings before interest and taxes of between EUR2.2 billion and
EUR3.1 billion.
It previously forecast Ebitda of between EUR4.0 billion and
EUR6.0 billion, and EBIT of between EUR2.0 billion and EUR4.0
billion.
Analysts currently expect the company's full-year Ebitda at
EUR5.01 billion and EBIT at EUR3.03 billion, according to consensus
estimates provided by FactSet.
Hapag-Lloyd's cut to the mid-points of its earnings guidance
stems from its expectation of a significant decline in freight
rates and a modest increase in transport volumes for the year as a
whole, Deutsche Bank Research analysts wrote in a note to
clients.
Moreover, there is significant oversupply in the shipping
industry that is expected to last for two to three years, which
could continue to keep freight rates under pressure, the analysts
said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
November 09, 2023 04:05 ET (09:05 GMT)
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