There’s a saying at public companies: “Underpromise and overdeliver.” A.P. Moller-Maersk has apparently taken that credo to heart in 2021.
At the beginning of this year, it introduced initial guidance for 2021 earnings before interest, taxes, depreciation and amortization of $8.5 billion-$10.5 billion.
In May, it raised its EBITDA guidance to $13 billion-$15 billion.
Then on Monday, it hiked it yet again, to $18 billion-$19.5 billion. The midpoint of the new range is double the midpoint of the...