Sonic Healthcare (ASX:SHL) withdraws guidance for FY20

20Mar

Sonic Healthcare (ASX:SHL) withdraws guidance for FY20

 

Sonic Healthcare (ASX:SHL) is withdrawing its earnings guidance for FY 2020 due to the level of uncertainty resulting from the COVID-19 pandemic.

After 8.5 months, Sonic’s trading results are consistent with the earnings guidance previously provided, however as populations in Sonic’s markets self-isolate or are quarantined there is potential for diagnostic testing volumes to be impacted in the short to medium term.

Their laboratories in Australia, the USA and Europe are testing thousands of patients every day for COVID19, and they continue to increase testing capacity.

Management said the group's balance sheet is in good shape to ride out the crisis with more than $1 billion in cash and debt facilities available.

Shares in Sonic Healthcare (ASX:SHL) are trading 9.48 per cent lower at $22.43
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

17Dec

AP Eagers (ASX:APE) apologises to employees for underpayment

17 Dec 2019 - Car retailer AP Eagers (ASX:APE) has identified inconsistencies in its payroll system, which have unintentionally resulted in over six thousand employees not being paid their full entitlements.

Read More
15Mar

Stocks of the Hour: Pentanet, Kalgoorlie Gold Mining, Black Rock Mining

15 Mar 2024 - A snapshot of the stocks on the move, featuring Pentanet (ASX:5GG), Kalgoorlie Gold Mining (ASX:KAL) and Black Rock Mining (ASX:BKT).

Read More
11Sep

Stocks of the Hour: DroneShield, Genetic Technologies, Cauldron Energy

11 Sep 2024 - A snapshot of the stocks on the move, featuring DroneShield Ltd (ASX:DRO), Genetic Technologies (ASX:GTG) and Cauldron Energy (ASX:CXU).

Read More
27Apr

Stocks of the Hour: Cleanaway, Bingo and Tabcorp

27 Apr 2021 - A snapshot of top company news for the hour, featuring Cleanaway (ASX:CWY), Bingo (ASX:BIN) and Tabcorp (ASX:TAH).

Read More
29Mar

Inghams (ASX:ING) Chief Executive Officer steps down

29 Mar 2021 - Poultry producer Ingham’s (ASX:ING) Chief Executive Officer Jim Leighton is leaving his role today and returning to the United States.

Read More
01Aug

Stocks of the Hour: Ioneer, Cobre, Plexure Group

01 Aug 2022 - A snapshot of the stocks on the move featuring Ioneer (ASX:INR), Cobre (ASX:CBE) and Plexure Group (ASX:PX1).

Read More
15Sep

Stocks of the Hour: Kingston Resources, Provaris Energy, Caspin Resources

15 Sep 2022 - A snapshot of the stocks on the move featuring Kingston Resources (ASX:KSN), Provaris Energy (ASX:PV1) and Caspin Resources (ASX:CPN).

Read More
18Sep

Stocks of the Hour: Myers, Domain, Wesfarmers & Telstra

16 Sep 2021 - A snapshot of the stocks on the move, featuring Myers (ASX:MYR), Domain Holdings (ASX:DHG), Wesfarmers (ASX:WES) & Telstra (ASX:TLS).

Read More
25Jun

Stocks of the Hour: Helix Resources, TMK Energy, QX Resources

25 Jun 2024 - A snapshot of the stocks on the move, featuring Helix Resources (ASX:HLX), TMK Energy (ASX:TMK) and QX Resources (ASX:QXR).

Read More
14Apr

InvoCare (ASX:IVC) is looking to raise $150 million

14 Apr 2020 - InvoCare (AX:IVC) funeral homes is raising $150m through an underwritten institutional Placement to continue momentum achieved on its growth initiatives through the temporary restrictions on the funeral industry as a result of COVID-19.

Read More