On Feb. 20, in the early days of the COVID crisis, passengers were disembarking an infected Princess cruise ship in Japan. Residents of Wuhan, China, were in total lockdown. The very first case was diagnosed in Italy. Also on that day, container giant A.P. Moller-Maersk released its 2019 annual report and 2020 guidance.
That guidance turned out to be very wrong.
Back in February, Maersk projected full-year 2020 earnings before interest, tax, depreciation and amortization (EBITDA) of $5.5 billion....
https://www.freightwaves.com/news/maersk-q3-profits-surge-and-q4-looks-even-better