Shares of shipping giant Maersk jumped more than 9% on Thursday after posting better-than-expected fourth-quarter results, signaling strong performance despite continued global trade uncertainties. The company’s robust earnings have put its shares on track for their best daily performance since 2020.
Financial Highlights
Maersk’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 26% to $12.13 billion for the full year, with fourth-quarter EBITDA reaching $3.6 billion, exceeding analysts’ forecast of $3 billion. The strong performance stemmed from growth across all three of the company’s business segments, according to CEO Vincent Clerc.
“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,” Clerc.
Recovery After 2023 Plunge
Maersk’s annual profit returned to growth in 2024, following a sharp decline in 2023. The prior year’s plunge came after record-high profits in 2021 and 2022, driven by the global supply chain crisis that caused shipping rates to spike. Maersk’s EBITDA in 2022 was a staggering $36.8 billion.
The company’s ability to recover highlights its agility in navigating high macroeconomic uncertainties. “At a time of very high macroeconomic uncertainties, we were able to be sufficiently agile,” Clerc said.
Future Outlook: Growth and Challenges
Looking ahead to 2025, Maersk expects EBITDA to range between $6 billion and $9 billion. The company forecasts 4% growth in the global economy, driven in part by lower interest rates that are expected to stimulate demand. However, analysts have flagged potential challenges on the horizon.
JP Morgan analysts noted that while the fourth-quarter results were stronger than expected—particularly in Maersk’s ocean and terminals segments—the company’s outlook suggests that the key ocean freight shipping sector may face losses in the second half of the year. Despite this, Maersk initiated a $2 billion share buyback program, signaling confidence in its long-term strategy.
Clerc acknowledged that normalization in shipping prices is likely but remained optimistic about the economy’s resilience. “We still expect the economy to chug along at quite some strength, with a 4% growth expected in the market and in the traded volumes,” he said.
A Bellwether for Global Trade
As a major player in global shipping, Maersk’s performance is often seen as a bellwether for broader trade and economic trends. The company’s strong fourth-quarter results and positive outlook for 2025 suggest that global trade may continue its recovery despite ongoing uncertainties.
Investors have responded positively to the news, with Maersk’s stock seeing gains of over 10% earlier in the trading session. The strong performance underscores Maersk’s resilience and ability to adapt to dynamic market conditions, even as challenges persist in the global shipping industry.
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