Hapag-Lloyd raises 2026 outlook again, says Q4 developing better than expected

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Investing.com -- Hapag-Lloyd on Thursday raised its 2026 earnings outlook for the second time, saying fourth-quarter business is developing better than expected on continued…

Investing.com -- Hapag-Lloyd on Thursday raised its 2026 earnings outlook for the second time, saying fourth-quarter business is developing better than expected on continued robust spot freight rates.

The German container shipper now expects group EBITDA of $4.6 billion to $5.0 billion (€4.0 billion to €4.4 billion) and group EBIT of $2.0 billion to $2.4 billion (€1.7 billion to €2.1 billion). This compares with previous expectations of $3.9 billion to $4.4 billion and $1.25 billion to $1.75 billion, respectively.

The group said the outlook is subject to a considerable degree of uncertainty given volatile freight rates and persistent geopolitical challenges.

For the third quarter, Hapag-Lloyd EBITDA nearly doubled to $1.73 billion from $866 million a year earlier, and the EBITDA margin widened to 25.1% from 15.9%. EBIT rose to $1.09 billion from $228 million, and group profit rose to $999 million from $172 million.

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The shipper credited much higher freight rates, strong vessel use and growth in its terminals business. The average freight rate was $1,808 per container unit, up from $1,413. Volumes were flat at 3.4 million containers, despite the conflict in the Middle East and weather disruptions, which also pushed up unit costs.

Terminal and Infrastructure revenue rose to $197 million from $131 million, and EBIT rose to $34 million from $9 million, helped by new capacity and better performance at Latin American terminals.

Despite the strong quarter, nine-month group profit was $827 million, down from $946 million a year earlier. EBIT for the nine months rose to $1.10 billion from $905 million.

"We delivered a strong third quarter, driven by significantly higher spot rates, robust demand and high capacity utilization," Chief…

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