Zim shipping company published excellent reports for the second quarter

The Zim shipping company controlled by Idan Ofer published excellent reports for the second quarter of 2024 and raised the forecast for the entire year. Zim shares jump more than 14% in pre-trade on the New York Stock Exchange.
The company upgraded the annual operating profit forecast to the range of 1.85-1.45 billion dollars, significantly higher than the previous forecast which was zero to 400 million dollars in a previous forecast.
The annual EBITDA forecast was also sharply improved, to a range of 3-2.6 billion dollars, against a previous forecast of 1.55-1.15 billion dollars.
Zim finished the second quarter with revenues of 1.9 billion dollars and a profit of 3.08 dollars per share - in a substantial gap from the expectations in the market which were revenues of 1.799 billion dollars and a profit of only 1.66 dollars per share.
The number of containers carried by Zim ships in the quarter was 952 thousand - an increase of 11% compared to the corresponding quarter last year. The average container price was $1,674, a jump of 40% compared to the corresponding quarter.