Sonic Healthcare (ASX:SHL) reinstates guidance

Company News

by Rachael Jones

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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.