ZIM Integrated Shipping Services (ZIM, Financial) posted Q3 GAAP results of $9.34 per share, which beat analyst forecasts by $2.29. Rising 117% YOY to $2.77 billion, revenue exceeded estimates by $360 million. With a regular dividend of $340 million (30% of Q3 net income) and a special dividend of $100 million, the business announced a dividend total of about $440 million. With $2.81 linked to its regular dividend and $0.84 to the special dividend, the total payout totals $3.65 per share.
With projected adjusted EBITDA between $3.3 billion and $3.6 billion and adjusted EBIT in the range of $2.15 billion to $2.45 billion, ZIM also presented its full-year 2024 guidance. In Q3, ZIM operated with 970,000 twenty-foot equivalent units (TEUs), up 12% year over year. The average TEU freight rate climbed 118% to $2,480. After the release, ZIM's shares rose by single-digit margins in line with its effective performance and optimistic forecasts.
