CMA CGM, a major player in shipping and logistics based in France, announced strong earnings for the second quarter on Tuesday. The company benefited from steady global trade, increased freight rates, and high demand for cargo, even amid rising geopolitical tensions in the Middle East.
As the world's third-largest container carrier, CMA CGM reported a revenue of $15.7 billion for the second quarter, marking a 19.2% increase from the same time last year. Their EBITDA rose by 31% to $3.0 billion, boosting the EBITDA margin to 19.0%. Net income climbed to $770 million, up from $520 million a year ago.
Shipping was the main contributor to these earnings. During the quarter, CMA CGM transported 6.33 million TEUs, which is a 6% increase year-over-year, and shipping revenue grew by 22% to $10.0 billion. The shipping division's EBITDA jumped by 42.4% to $2.26 billion, with margins improving to 22.7%.
CMA CGM attributes its success to strong consumer demand, restocking of inventories, and preparations ahead of new tariffs, which helped balance out the operational challenges posed by the Middle East conflicts.
“Despite ongoing geopolitical instability, we delivered solid results in the second quarter of 2026, thanks to our shipping operations, terminal growth, air cargo activities, and the strengths of our logistics services,” said Chairman and CEO Rodolphe Saadé.
He added, “This performance shows our strategy of expanding in key markets and investing in strategic assets. It highlights the strength, flexibility, and resilience of our model, allowing us to provide reliable, high-quality service to our clients.”
The company also noted that the conflict in the Middle East has raised operating costs due to higher insurance rates, ship outages, and reduced cargo volumes in the region. However, these challenges were more than offset by increased freight rates and the adaptability of their global network. CMA CGM is also using alternative transportation routes to maintain supply chains for Gulf countries.
In addition to shipping, CMA CGM’s logistics arm, CEVA Logistics, achieved $5.0 billion in revenue for the quarter, up 8.5%. However, its EBITDA dropped by 15.4% as freight forwarding margins faced pressure and the automotive sector struggled. On the other hand, the “Other Activities” segment, which includes terminals and air cargo, saw a revenue increase of 47.6% to $1.48 billion, driven by strong terminal performance and recent acquisitions.
This earnings report coincides with the announcement of a new partnership between CMA CGM and investment firm Stonepeak, who launched United Ports LLC. This new venture manages nine major container terminals across five countries after receiving regulatory approval. Stonepeak invested $2.4 billion for a 25% stake in the venture, while CMA CGM maintains operational control. The partners also plan to invest in expanding terminals, electrification projects, and logistical infrastructure, with Stonepeak committing up to an extra $3.6 billion for future projects.
Looking forward, CMA CGM acknowledges that uncertainty remains high.
“The geopolitical landscape presents significant uncertainties,” the company stated, referring to ongoing tensions in the Middle East, changing trade policies, and new tariffs that could impact global trade flows in the near future. Despite these challenges, CMA CGM believes its diverse logistics portfolio, flexible shipping network, and robust financial position will help it adapt to changing market conditions.