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(Sharecast News) - Shipping giant Maersk reported a stronger-than-expected Q2 performance on Thursday, buoyed by resilient freight demand and operational gains across its logistics and terminal divisions.
Underlying earnings rose 7% year-on-year to $2.3bn, ahead of analyst forecasts of $1.98bn, while revenue climbed 3% to $13.1bn. EBIT in its logistics segment jumped 39% to $175m, helping lift margins from 3.5% to 4.8%.
Terminal operations also impressed, with EBIT up 31% to $461m and volumes rising almost 10%, supported by increased throughput from Maersk's Ocean business.
Despite ongoing geopolitical volatility and pressures on shipping rates, Maersk raised its FY outlook, citing improved market conditions outside North America and the successful rollout of its Gemini network.
The Danish group now expects FY underlying earnings of $8bn to $9.5bn, up from prior guidance of $6bn to $9bn, while container volume growth was forecast to be between 2% and 4%, narrowing the range from earlier estimates.
As of 1100 BST, Maersk shares were up 2.74% at DKK 13,490 each.
Reporting by Iain Gilbert at Sharecast.com
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