Maersk, the global shipping giant, reported impressive fourth-quarter earnings on Thursday, exceeding analyst expectations and leading to a significant surge in its share price. The company announced a 26% increase in earnings before interest, depreciation, taxes, and amortization (EBITDA) for the full year, reaching $12.13 billion. The fourth-quarter EBITDA alone stood at $3.6 billion, surpassing the $3 billion forecast by analysts.
The announcement of these better-than-expected results sent Maersk's shares soaring by over 10%, marking their best daily performance since 2016. The growth was driven by strong performance across all three of Maersk’s business segments.
"We saw growth across all three of our segments. We saw also a pretty strong price environment on the back of that growth and some shortages of capacity, so global trade continuing to be strong allowed us to deliver a very strong quarter." – Maersk CEO Vincent Clerc
The company's CEO, Vincent Clerc, attributed the robust quarter to favorable pricing conditions and capacity shortages, which bolstered overall performance. Clerc shared his insights during an interview on CNBC's "Squawk Box Europe," highlighting that despite global macroeconomic uncertainties, Maersk remained agile and capitalized on opportunities.
"At a time of very high macroeconomic uncertainties, we were able to be sufficiently agile." – Maersk CEO Vincent Clerc
Maersk's success in navigating these challenges underscores its ability to adapt and thrive in a volatile market environment. The global trade landscape has remained resilient, enabling Maersk to leverage its strategic strengths effectively.