Sonic Healthcare (ASX:SHL) withdraws guidance for FY20

Company News

by Rachael Jones

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