TLDR
- Maersk $MAERSK B stock jumped over 5% after Q2 profit more than doubled to $1.31 billion, beating expectations.
- Revenue rose 20% to $15.76 billion; EBITDA of $2.99 billion beat analyst consensus by 44%.
- The Ocean division led the way, with EBIT surging to $935 million from $229 million a year ago.
- Full-year EBITDA guidance was raised to $10.5B-$12.5B, up from $8B-$10B.
- Morgan Stanley still rates the stock “underweight” with a price target implying around 43% downside.
Maersk posted Q2 profit of $1.31 billion, more than double the $639 million it reported in the same period last year. The stock climbed over 5% on Thursday following the results.
A.P. Møller – Mærsk A/S, AMKAF
Revenue for the quarter came in at $15.76 billion, up 20% year-on-year. EBITDA hit $2.99 billion, compared to $2.30 billion a year earlier, beating analyst consensus by 44% according to Morgan Stanley Research.
The Ocean division was the clear standout. EBIT there surged to $935 million from just $229 million a year ago, driven by higher freight rates and solid volumes.
🚨 Maersk Q2 2026 Results
Profit beats forecasts…
but raised outlook + freight rate tailwinds are the real story 👀
📊 KEY METRICS (Q2 2026)
🔹 EBITDA: $3.0B (vs est. $2.12B | +30% YoY from $2.30B) 🟢
🔹 Full-year Guidance: Raised for the second time in 2026 🟢
🔹 Global… pic.twitter.com/3ubug40fpI— Emmanuel – Big Tech & AI Investor (@EmmanuelInvest) August 13, 2026
The average loaded freight rate came in at $2,746 per forty-foot equivalent unit, running 15% above what analysts had forecast. Loaded volumes themselves were broadly in line with expectations.
Logistics and Services also improved during the quarter, while the Terminals segment held roughly steady.
Guidance Raised Again
Maersk lifted its full-year underlying EBITDA guidance to a range of $10.5 billion to $12.5 billion. That’s up from the previous range of $8 billion to $10 billion, and marks the second time in 2026 the company has raised its outlook.
Underlying EBIT guidance also moved higher, now set at $4.5 billion to $6.5 billion versus the prior range of $2 billion to $4 billion.
The company kept capital expenditure guidance unchanged at $10 billion to $11 billion. Maersk now expects global container volumes to grow around 4% this year.
Morgan Stanley Stays Cautious
Despite the beat, Morgan Stanley kept its “underweight” rating on the stock. The bank’s price target of 10,000 crowns implies roughly 43% downside from Wednesday’s close.
Morgan Stanley described the earnings beat as “primarily a rate story rather than a volume surprise,” noting that the driver was freight rate strength, not a pickup in volumes.
Analysts added that the debate now centres on how long the elevated rate environment can last. Maersk made the case for a structurally tighter market, pointing to demand growth, trade-lane imbalances and port under-investment.
The shipping group has benefited from disruptions that pushed freight rates higher, including the US-Iran war, which disrupted traffic through the Strait of Hormuz, and ongoing Houthi attacks in the Red Sea.
Most major shippers abandoned the Asia-Europe route through the Suez Canal after the Houthi attacks, rerouting vessels around Africa’s Cape of Good Hope. The longer routes pushed freight costs higher.
Maersk and Hapag-Lloyd have in recent months announced plans to gradually resume some services through the Suez Canal.
Some analysts have cautioned that any normalisation of Red Sea traffic could put downward pressure on freight rates. Morgan Stanley’s underweight rating reflects that concern.
Maersk’s EBITDA consensus beat of 44% was the headline figure from the quarter, with the freight rate of $2,746 per FEU coming in 15% ahead of what the market had expected.
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