ZIM
ZIM Integrated Shipping Services Ltd.
Price as of Jul 20, 2026
ZIM earnings
ZIM Integrated Shipping Services Ltd. earnings
Reported EPS and revenue history, upcoming estimates and available earnings-call summaries.
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 20, 2026 | $-0.22 | $-0.72 | -227.3% | $1.4B | -5.9% |
| Mar 9, 2026 | $-0.43 | $-0.58 | -36.4% | $1.5B | -4.8% |
| Nov 20, 2025 | $0.77 | $1.02 | +33.2% | $1.8B | +2.3% |
| Aug 20, 2025 | $1.50 | $0.19 | -87.3% | $1.6B | -7.8% |
| May 19, 2025 | $1.87 | $2.45 | +31.0% | $2.0B | +9.1% |
| Mar 12, 2025 | $3.47 | $4.66 | +34.3% | $2.2B | +16.3% |
| Nov 20, 2024 | $7.05 | $9.34 | +32.5% | $2.8B | +15.6% |
| Aug 19, 2024 | $1.79 | $3.08 | +72.1% | $1.9B | +7.4% |
| May 21, 2024 | $1.46 | $0.75 | -48.6% | $1.6B | -0.7% |
| Mar 13, 2024 | $-1.33 | $-1.23 | +7.5% | $1.2B | -5.6% |
| Nov 15, 2023 | $-1.56 | $-1.97 | -26.3% | $1.3B | +0.1% |
| Aug 16, 2023 | $-0.87 | $-1.37 | -57.5% | $1.3B | -2.7% |
Earnings call summary
Q3 FY2025 · November 20, 2025
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Navigated volatile rate environment with resilience, maintaining service reliability and optimizing cost base. - Board declared a dividend of 31¢ per share ($37 million), representing 30% of Q3 net income; total dividends in 2025 were $9.09 per share ($1.1 billion), and since IPO, total dividends are ~$5.7 billion. - Fleet strategy: Continued investment in modern vessels, secured charter agreement for 10 LNG dual-fuel vessels (scheduled for delivery 2027-2028), actively manage operated fleet to align with market conditions, redelivered vessels in Q3. - Regional diversification: Focus on Southeast Asia and Latin America to capture new trade flows, expand network flexibility, reduce dependence on single trade lane. - Suez Canal: Preparing operational plan for return, expecting improved fleet efficiency but also potential pressure on freight rates.
Guidance
- Fourth quarter trending weaker than originally projected. Refined 2025 guidance: Adjusted EBITDA expected between $2 billion and $2.2 billion (increased lower end by $200 million), adjusted EBIT expected between $700 million and $900 million (narrowed range). Midpoints increased based on year-to-date performance. - Assumptions: Freight rates softened since August guidance, but operated capacity, carried volume, and bunker rates unchanged.
Segment performance
In Q3 2025, ZIM generated revenue of $1.8 billion. Adjusted EBITDA was $593 million, and adjusted EBIT was $260 million. The average freight rate per TEU in Q3 was $1,602, with carried volume of 900,000 TEUs (4.5% lower year over year, 3.5% higher sequentially). Non-containerized cargo (car carrier services) totaled $78 million in Q3 2025, down from $145 million in 2024 due to lower volume and rates. Revenue for the first nine months of 2025 was $5.4 billion, down 13% year over year.
Risks & headwinds
- Geopolitical and trade tensions driving uncertainty in shipping industry. - Supply growth outpacing demand, leading to continued pressure on freight rates. - High degree of uncertainty related to global trade and geopolitical environment impacting financial outlook.
Analyst Q&A
Q: Comment on market chatter regarding management buyout and board composition changes.
A: Eli Glickman stated board is managing board member changes, two members resigned, two new members added; no comment on management buyout exploration.
Q: View on return through Red Sea and potential market share grab.
A: Eli Glickman said waiting for insurance company approval to return through Red Sea, looking to take shorter route than Cape of Good Hope to grab market share.
Q: Dividend policy, income outlook, and EBITDA/EBIT guidance changes.
A: Eli Glickman explained dividend policy of distributing 30% of quarterly net profit, board may declare special dividend; Xavier Destriau discussed EBIT guidance narrowing and reasons for EBITDA guidance changes.
Q: Cost savings, CapEx, and leverage related to chartered vs owned vessels.
A: Xavier Destriau discussed cost savings through network agility, limited cash CapEx, and importance of efficient tonnage in long-term charters; explained asset base and redelivery potential of chartered vessels.
Q: Route profitability, rate recovery outlook.
A: Xavier Destriau noted route profitability varies with market dynamics, diversification into Southeast Asia and Latin America, and mentioned challenges from order book and Suez Canal reopening affecting rate recovery prospects.
Earnings history is derived from company filings and calendar data. Call summaries are grouped by reporting period. Latest covered event: 2026-08-19.