Orient Overseas (International) (0316) Q3 2024 earnings summary

Executive summary

• Q3 2024 total revenues rose 73.7% year-over-year to $3,056.3 million, with total liftings up 3.6% and loadable capacity down 1.6%.

• Overall average revenue per TEU increased 67.6% compared to Q3 2023, and the load factor improved by 4.2 percentage points.

• For the first nine months of 2024, revenues grew 23.4% and liftings increased 2.6% year-over-year, with a 1.0% decrease in loadable capacity.

Financial highlights

• Q3 2024 revenue: $3,056.3 million, up 73.7% from Q3 2023.

• Nine-month 2024 revenue: $7,301.1 million, up 23.4% year-over-year.

• Q3 2024 average revenue per TEU up 67.6% year-over-year; nine-month average up 20.3%.

Segment performance

• Trans-Pacific Q3 liftings up 15.6% and revenue up 99.4% year-over-year.

• Asia/Europe Q3 liftings down 12.0%, revenue up 106.6%.

• Trans-Atlantic Q3 liftings down 5.5%, revenue down 10.4%.

• Intra-Asia/Australasia Q3 liftings up 5.3%, revenue up 48.2%.