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Maersk (MAERSK) investor relations material
Maersk Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 revenue rose 20% YoY to $15.8B; EBITDA increased 30% to $3.0B and EBIT rose 86% to $1.6B, led by Ocean’s higher rates and volumes.
Free cash flow turned positive at $549M versus -$373M a year earlier; strong performance across all three segments supported upgraded FY2026 guidance.
Resilient demand and constrained landside infrastructure drove congestion and freight-rate volatility, which management expects to recur.
Financial highlights
Revenue was $15.8B, EBITDA $3.0B, and EBIT $1.6B; net profit reached $1.3B versus $639M a year earlier.
EBITDA margin improved to 19.0% from 17.5%; EBIT margin rose to 10.0% from 6.4%.
Free cash flow was $549M versus -$373M; operating cash flow was $2.3B, with 75% cash conversion.
Gross CapEx was $931M; higher receivables and bunker inventory increased working capital.
$367M was returned to shareholders during the quarter, primarily through share buybacks.
Outlook and guidance
FY2026 underlying EBITDA guidance was raised to $10.5B-$12.5B and underlying EBIT to $4.5B-$6.5B; container-market volume growth is expected at ~4%.
FY2026 free cash flow guidance is greater than -$1.5B.
Cumulative CapEx guidance remains $10B-$11B for both 2025-2026 and 2026-2027.
Lower-end guidance assumes congestion eases around the start of Q4; stronger demand and persistent congestion would support the upper end. A gradual Red Sea/Suez return could lower sailing costs but temporarily intensify destination congestion.
- Online AGM highlighted strong financials, strategic progress, and robust shareholder support.MAERSK
AGM 2026 - Lower ocean rates drove profit declines, but volume growth and guidance were maintained.MAERSK
Q1 2026 - 2025 saw robust results; 2026 outlook cautious amid overcapacity and rate pressure.MAERSK
Q4 2025 - Strong results, new logistics and green initiatives, and major risks from global instability discussed.MAERSK
AGM 2025 - Q2 2025 saw strong results and upgraded guidance, driven by robust segment growth and resilience.MAERSK
Q2 2025 - Raised 2024 guidance after strong Q2 growth, with risks from Red Sea and demand uncertainty.MAERSK
Q2 2024 - Q3 2024 delivered record profitability, upgraded guidance, and robust growth across all segments.MAERSK
Q3 2024 - Q1 2025 delivered strong EBIT and revenue growth, with guidance steady amid global risks.MAERSK
Q1 2025 - Record 2024 results, robust outlook, and Gemini network launch drive $4.4B returns.MAERSK
Q4 2024
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Frequently asked questions
The Global Shipping Giant
A.P. Moller - Maersk, commonly known as Maersk, is a logistics company that has navigated the complex waters of global trade since its inception in 1904. Founded in Denmark, Maersk has grown to become one of the largest container shipping companies in the world, boasting a comprehensive end-to-end supply chain management system. Their services encompass a broad spectrum of logistics solutions, including shipping, warehousing, and distribution, making them a critical part of the global supply chain.
Maersk's Voyage Started in 1904
Maersk’s story begins in Svendborg, Denmark, where Arnold Peter Møller and his father Captain Peter Maersk Møller established the company in 1904. The aim was to establish a reliable, efficient, and flexible shipping service to facilitate international trade. This partnership laid the foundations for what later would become a titan of the shipping industry. Rapid expansion followed, and by 1928 Maersk launched its first ocean-going diesel ship, the M/S Selandia, a significant achievement in the industry. Although its operations are now truly global, Maersk’s headquarters are in Copenhagen. Today, the company is one of the biggest in Denmark together with names like LEGO and Carlsberg, and plays an important role in the Danish economy.
Further reading: The Family Behind Maersk
In the Heart of Global Commerce
Maersk has a significant influence on the ebb and flow of global trade. Their operations span more than 130 countries, allowing them to serve businesses large and small in various industries. With a fleet of over 700 ships, Maersk has the capacity to transport millions of twenty-foot equivalent unit (TEU) containers annually, making them a critical cornerstone in the world's supply chains. Their extensive network allows them to connect manufacturers and consumers across continents, enabling businesses to bring their goods to market in a timely and efficient manner. However, Maersk is not alone in the industry and other players include names like Hapag-Lloyd and Evergreen.
Steering Towards a Sustainable Future
The world of shipping is not immune to the sweeping changes brought about by concerns over climate change and sustainability. Recognizing these emerging trends, Maersk has taken significant steps to ensure that its operations align with a more sustainable future. The company has committed to achieving net-zero CO2 emissions by 2050 and is experimenting with the use of alternative fuels for its massive fleet. Additionally, Maersk is continuously exploring ways to make its supply chain operations more efficient, thus minimizing waste and reducing its overall environmental impact.
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