Maersk Raises Outlook as Shipping Giant Sees Demand Rebound
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A.P. Moller-Maersk A/S raised its full-year guidance amid a surprise recovery in demand and sweeping efforts to cut costs.
The container shipping company, which is eliminating hundreds of jobs, said earnings before interest, taxes, depreciation and amortization will be in the range of $7.5 billion to $8 billion, before restructuring and integration costs. That compares with an earlier forecast of $6 billion to $7 billion, according to a statement.