Maersk earnings Q3 2018

The company narrowed its expectation for full-year earnings before interest, tax, depreciation and amortisation (EBITDA) to $3.6 billion to $4.0 billion from $3.5 billion to $4.2 billion previously.

The former conglomerate is restructuring to focus entirely on transport and logistics and plans to step up competition with delivery companies UPS and Fedex.

Maersk bought German rival Hamburg Sud in 2016, which helped it boost revenue in the quarter by 31 percent from a year earlier to $10.08 billion, above the $9.98 billion expected by analysts in a Reuters poll.

EBITDA totalled $1.14 billion for the quarter, compared with 1.09 billion forecast by analysts.

However, unit costs — a key parameter in the shipping industry showing how competitive prices each liner can offer its customers — rose unexpectedly by 1.5 percent to $1,809 per forty foot container from the previous quarter.

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