Why Zim Integrated Shipping Services Stock Slipped Today
The stock of logistics specialist Zim Integrated Shipping Services (NYSE: ZIM) landed in negative territory on Wednesday. Investors reacted unhappily to the company's second-quarter earnings release published that morning. With its resulting 1.4% slump, Zim had a worse finish to the day than the S&P 500 index (which was down only 0.2%).
During the quarter, Zim's revenue fell by 15% year over year to almost $1.64 billion, on carried volume that decreased by 6%. Those declines were nothing compared to that for generally acceptable accounting principles (GAAP) net income, which eroded to $24 million ($0.19 per share) from Q2 2024's $373 million profit.
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Source Fool.com
