Maersk
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Maersk (MAERSK) investor relations material

Maersk Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary5 Nov, 2026

Executive summary

  • Q3 revenue reached USD 18.095bn, up 27% YoY; EBITDA was USD 4.710bn and EBIT USD 3.269bn, with Ocean rate gains driving earnings growth.

  • Free cash flow was USD 2.389bn versus USD 771m a year earlier; higher working-capital needs partly offset the improvement.

  • FY2026 underlying EBITDA, underlying EBIT and free cash flow guidance were raised amid resilient demand and elevated rates.

Financial highlights

  • Q3 profit for the period was USD 3.047bn versus USD 1.096bn; underlying profit was USD 3.031bn versus USD 939m.

  • Operating cash flow was USD 4.364bn; gross CapEx was USD 1.163bn, in line with guidance.

  • Cash and deposits were USD 20.6bn, with net cash of USD 3.2bn; Q3 share buy-backs were USD 249m.

  • 9M revenue grew 15% to USD 46.8bn, EBITDA 23% to USD 9.5bn and EBIT 53% to USD 5.2bn.

Outlook and guidance

  • FY2026 underlying EBITDA guidance is USD 14.0–14.5bn, underlying EBIT USD 8.0–8.5bn and free cash flow above USD 3bn.

  • Global container volume growth is forecast at ~4% in 2026; full-year volume growth is expected to track the market.

  • CapEx guidance remains USD 10.0–11.0bn for both 2025–2026 and 2026–2027.

  • Q4 expected to be strong, with spot rates significantly above Q4 2025; no 2027 guidance yet as contract negotiations are starting.

  • Freight rates are expected to remain volatile over the next five years, with average earnings above the 2010–2020 industry average.

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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.