Wallenius Wilhelmsen reported first quarter financial results that were well below forecasts as both its oceangoing and landbased businesses failed to deliver results expected.
Net income for the quarter was $10m compared to $60m from the year earlier. There was a consensus estimate figure of $64m. Total revenue of $968m was up 9% from a year earlier.
Craig Jasienski, chief executive of the Norwegian company, said the first quarter is seasonally weak for auto shipping.
