April 28, 2020 / 7:46 PM / a month ago

FACTBOX-Businesses signal earnings hit as coronavirus takes a toll

 (Adds details on new companies)
    May 8 (Reuters) - As the COVID-19 pandemic caused by the new coronavirus wreaks havoc in the financial
markets, corporations are warning on hits to their financial results as the outbreak disrupts supply chains and
business activity.    
    While most of them have withdrawn their full-year outlook, a few of them have forecast the preliminary
financial hit from the outbreak.
    Here's a list of a few big names:
 Company                          Coronavirus Impact                                             USN
 Delta Air Lines Inc              Expects Q2 revenue to fall by 90%                                          
 Marriott International Inc       60% decline in its March total revenue per available room and              
                                  23% drop in Q1.                                                
 Canada Goose Holdings Inc        Annual revenue hit of up to C$51.6 mln (about $36 mln)                     
 Capri Holdings Ltd               Versace owner warns of a $100 mln hit                                      
 Estee Lauder Cos Inc             Warns of weak quarterly sales                                              
 Ralph Lauren Corp                $55 mln to $70 mln hit to its Q4 sales in Asia                             
 Tapestry Inc                     2H financial results may be dented by ~$200 mln to $250 mln                
                                  in sales and 35 cents to 45 cents in earnings per share        
 New York Times Co                Expects ad revenue in Q2 to slide 50%-55% from a year earlier              
 Plexus Corp                      To take nearly $40 mln hit to current-quarter revenue                     
 Carnival Corp                    Expects a loss for the fiscal year ending Nov. 30                          
 HP Inc                           Q2 profit to be hit by 8 cents per share                                  
 Goodyear Tire & Rubber Co        Preliminary Q1 sales fell 16.7% to $3 bln and expects to                   
                                  report a Q1 loss between $185 million and $195 mln             
 Halliburton Co                   Expects further decline in revenue and profitability,                      
                                  particularly in N. America, for rest of 2020                   
 Johnson & Johnson                Cuts 2020 adjusted earnings per share to $7.50-$7.90 from                  
 Norwegian Cruise Line Holdings   Expects a loss for Q1 and for the year ending Dec. 31, 2020                
 Merck & Co Inc                   Expects full-year adjusted earnings per share of $5.17-$5.37               
                                  from previous forecast of $5.62-$5.77, warns of $2.1 bln hit   
                                  to 2020 sales                                                  
 PepsiCo Inc                      Expects Q2 organic sales to decline at a low single-digit                  
 Domino's Pizza Inc               Expects a hit of about $20 mln to Q2 earnings                              
 Verizon Communications Inc       Expects full-year adjusted earnings per share growth of                    
                                  between 2% and a fall of 2%, from prior view of a growth of    
                                  2% to 4%                                                       
 Kinder Morgan Inc                Expects an 8% fall in annual adjusted EBITDA from previous                 
                                  estimate of about $7.6 bln                                     
 Amazon.com Inc                   Expects Q2 operating income to range from a loss of $1.5 bln               
                                  to a profit of $1.5 bln vs earnings of $3.1 bln, a year        
 Ford Motor Co                    Expects Q2 loss to more than double to over $5 bln from $2                 
                                  bln in Q1                                                      
 Starbucks Corp                   Expects China same-store sales to fall 15% to 25% for the                  
                                  full year                                                      
 Albemarle Corp                   Expects Q2 sales and profit to drop                                        
 Bristol Myers Squibb Co          Expects 2020 revenue forecast of $40 bln to $42 bl, shaving                
                                  $500 mln from both the top and bottom ends of the range        
 Bunge Ltd                        Expects FY 2020 EPS will be lower than its original forecast               
 Mattel Inc                       Expects a steep drop in Q2 sales                                           
 Hasbro Inc                       Expects hit to sales in Q2                                                 
 Tyson Foods Inc                  Expects meat sales to fall in H2 2020                                      
 DuPont                           Expects Q2 revenue to be down in mid-teens                                 
 ViacomCBS Inc                    Expects significantly lower ad demand in Q2                                
 (Reporting by Uday Sampath, Amal S, Sanjana Shivdas and Shanti S Nair in Bengaluru; Editing by Sriraj
Kalluvila, Shounak Dasgupta and Shailesh Kuber)
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