Sonic Healthcare (ASX:SHL) reinstates guidance

Back in March Sonic Healthcare (ASX:SHL) withdrew its earnings guidance for FY 2020 due to the level of uncertainty resulting from the Covid-19 pandemic.

For the 8.5 months to mid-March 2020, Sonic’s trading results were in line with the earnings guidance previously provided, however in the second half of March, the pandemic and associated lockdowns precipitated dramatic falls in base patient volumes and revenues, almost simultaneously across Sonic’s global businesses.

Sonic is now in position to provide new earnings guidance for FY 2020.

For FY 2019 Sonic reported statutory Earnings before Interest, Tax, Depreciation and Intangibles Amortisation of $1.075 billion.

Sonic is not in a position to provide guidance for FY 2021 at this time.

Shares in Sonic Healthcare (ASX:SHL) are trading 1.52 per cent higher at $29.40.
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Source: Finance News Network