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Benzinga

Business

Adam Eckert

Why ZIM Integrated Shipping Services Shares Are Trading Higher Today

NYSE ZIM Integrated Shipping Services Ltd

ZIM Integrated Shipping Services Ltd (NYSE:ZIM) is trading higher Wednesday after the company reported better-than-expected fourth-quarter financial results.

ZIM reported fourth-quarter revenue of $3.47 billion, which beat the $3.34 billion estimate. The company reported quarterly earnings of $14.17 per share, which beat the estimate of $13.20 per share.

ZIM said it expects full-year 2022 adjusted EBITDA to be between $7.1 billion and $7.5 billion.

ZIM is an asset-light container liner shipping company that offers tailored transportation and logistics services.

See Also: AST SpaceMobile And SpaceX? Why ASTS Shares Are Rising Today

ZIM 52-Week Range: $18.81 - $75.33

The stock was up 6.95% at $75.30 at time of publication.

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