$ZIM Integrated Shipping Services Ltd.(ZIM)$
First quarter 2024 earnings released: EPS: US$0.75 (vs US$0.49 loss in 1Q 2023)
First quarter 2024 results:
EPS: US$0.75 (up from US$0.49 loss in 1Q 2023).
Revenue: US$1.56b (up 14% from 1Q 2023).
Net income: US$90.3m (up US$149.8m from 1Q 2023).
Profit margin: 5.8% (up from net loss in 1Q 2023).
Revenue is forecast to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.
Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings.
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