ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) reported Q3 EPS of ($18.90), versus $9.66 reported last year. Revenue for the quarter came in at $1.27 billion versus the consensus estimate of $1.29 billion.

Updated Full-Year 2023 Guidance:

The Company revised its guidance for the full-year 2023 and now expects to generate Adjusted EBITDA of between $900 million and $1,100 million and Adjusted EBIT loss of between $600 million and $400 million. Previously, the Company expected to generate Adjusted EBITDA of between $1.2 billion and $1.6 billion and Adjusted EBIT loss of between $500 to $100 million. This guidance reflects continued weakness in freight rates and soft demand across all of the Company's trades.

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