A.P. Møller - Mærsk A/S (MAERSKB) Earnings Call Transcripts

A.P. Møller - Mærsk A/S's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, A.P. Møller - Mærsk A/S reported revenue of $13 billion, a 2.6% decrease year-on-year, alongside an EBITDA of $1.8 billion and an EBIT of $340 million. The results were impacted by lower ocean freight rates due to industry oversupply, despite strong volume growth. Management maintained its full-year guidance, expecting underlying EBIT between negative $1.5 billion and positive $1 billion, and free cash flow of negative $3 billion or better, indicating resilience amid ongoing geopolitical tensions.

Reported metrics

Guidance from management

Management maintained its full-year guidance, expecting global container volume growth of 2% to 4% and underlying EBIT of between negative $1.5 billion and positive $1 billion, indicating confidence in operational resilience despite ongoing challenges.

What management said

Yes. You might know that we obviously, like many others, we are trying to hedge some of the bunker costs. So this is, let's say, an unrealized loss on derivatives that we had to take accounting standards. Again, it's unrealized. We'll need to see how this evolves, but that is the additional cost that you have seen.

What analysts pressed on

Analysts expressed concerns regarding the sustainability of demand amid rising energy costs and the potential for further EBITDA pressure in the second half of the year. There were questions about the impact of the Middle East conflict on future operations and financial performance.

Main topics on the call

• Revenue Decline — The company reported a revenue of $13 billion, down 2.6% year-on-year, primarily due to lower ocean freight rates. Management noted, 'Lower rates were only partly offset by the strong volume growth.'
• EBITDA and EBIT Performance — EBITDA for the quarter was $1.8 billion with an EBIT of $340 million, reflecting the lowest rates in Ocean year-on-year. Management stated, 'Lower earnings led to free cash flow of negative $874 million for the quarter.'
• Cost Management and Unit Cost Reduction — Despite the challenges, Maersk achieved a 7% year-on-year decrease in unit costs at fixed energy. Management highlighted, 'We have demonstrated a sustained decrease in unit cost, notwithstanding the Middle East conflict....
• Guidance Maintenance — Management maintained its full-year guidance, expecting underlying EBIT of between negative $1.5 billion and positive $1 billion. They emphasized, 'We are maintaining our guidance, given what we can see right now.'

Read the full A.P. Møller - Mærsk A/S transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 38 A.P. Møller - Mærsk A/S earnings call transcripts on record, spanning February 20, 2020 to August 13, 2026. Based on this history, A.P. Møller - Mærsk A/S reports quarterly. The most recent call on file is dated August 13, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MAERSKB

Exchange

CPSE

Country

DK

Sector

Industrials

Industry

Marine Transportation

Calls on record

38

First call

February 20, 2020

Most recent

August 13, 2026

Reporting cadence

quarterly