Zim, the world’s 10th-largest ocean carrier, announced a big earnings beat for the fourth quarter and paid out a higher-than-expected dividend. However, it faces a tough year ahead, with a chance of at least some quarters in the red.
The company’s shares (NYSE: ZIM) surged Monday on news of the earnings beat, jumping as much as 25% in morning trading. Shares had given back most of those gains by the end of the day, closing up only 6.6%. Trading was heavy, at more than four times average volume.
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https://www.freightwaves.com/news/zim-q4-results-surprise-to-upside-but-2023-extremely-challenging