About 150 publicly traded companies have warned investors of the threat COVID-19 poses, with several anticipating they'll miss guidance for the March quarter.
The new coronavirus was first discovered in December in China. At first, several companies had to suspend their supply chains or temporarily close brick-and-mortar locations across China, in an attempt to stop the spread of the virus. A handful of companies such as Apple that rely on manufacturing and retail sales in the region initially warned the coronavirus would hurt business but indicated operations would return to normal. But then COVID-19 started spreading rapidly across the globe and fears of a global economic slowdown increased, leading to a steep market sell-off.
"The backdrop right now is different," Quincy Krosby, chief market strategist at Prudential Financial, told CNBC. "We don't know in this pyramid of uncertainty under the coronavirus what happens to the economy, what happens to consumer spending, what happens to [capital expenditures]."
"The only thing that can change this pyramid is what we hear from the government in terms of alleviating some of the pain," Krosby added. "You know that the Fed, Treasury Department and White House have to be focused on this to make certain the financial conditions stay healthy and solid."
CNBC has compiled the following list of companies that have warned of performance effects or updated guidance due to COVID-19 so far:
Anheuser-Busch InBev forecast a 10% decline in its first-quarter profits after the virus hit Chinese New Year sales. CEO Carlos Brito told analysts that the outbreak resulted in about $285 million in lost revenue in the first two months.
Abercrombie & Fitch
Apparel retailer Abercrombie & Fitch said earlier this month that the virus is expected to lower sales by as much as $50 million during its fiscal first quarter, and up to $80 million in 2020. Abercrombie reported net sales of $3.62 billion in the full year ended Feb. 1, 2020.
Agilent said the coronavirus outbreak cost the company $10 million its its fiscal first quarter, though is confident it can recoup sales lost and held its full-year sales outlook.
Air France-KLM warned of a $162 million to $216 million hit to earnings by April as it contends with the China coronavirus epidemic's "brutal" impact on the airline industry.
China's Alibaba Group will provide $144 million in spending subsidies for a March online shopping festival to counter the impact of the coronavirus outbreak. AliExpress, the global e-commerce platform of Chinese online shopping giant Alibaba, warned customers there may be some delivery delays due to the coronavirus outbreak.
Advanced Micro Devices said its sales are expected to hit the low end of its forecast range due to the coronavirus. The company maintained its revenue guidance.
American Airlines suspended its fiscal 2020 guidance as the demand environment remains fluid. The company said it has over $7.31 billion in liquidity as of March 9.
American Axle expects the coronavirus outbreak to impact about $25 million in China, which assumed the auto supplier and its customers resumed production over the second half of February and into early March.
Chipmaker Analog Devices forecast second-quarter revenue that fell short of analysts' estimates, as the company accounted for a $70 million hit related to the coronavirus outbreak. The company, which supplies some iPhone components, expects revenue of $1.35 billion for the current quarter, plus or minus $50 million, below estimates of $1.38 billion, according to IBES data from Refinitiv.
Apple said it does not expect to meet its quarterly revenue forecast because of lower iPhone supply globally and lower Chinese demand as a result of the coronavirus outbreak. The company initially said that it expected to report net sales between $63 billion to $67 billion in its fiscal second quarter. It did not provide a new forecast for Q2 revenue.
Applied Materials said it expects COVID-19's overall impact for fiscal 2020 to be minimal. Though it does expect changes in the timing of its revenues, it said.
AstraZeneca forecast a likely slowdown in revenue growth this year, assuming a hit from China's coronavirus epidemic lasting up to a few months, although it added there had been limited disruption to its operations so far.
Avery Dennison said the COVID-19 outbreak is still "very fluid" and too soon to assess its full impact. "We factored in up to a nickel headwind to our EPS guidance, reflecting the mandated delays and starting backup following Lunar New Year, that's impacting many regions in China in which we operate," it said.
China's Baidu said it expects sales to fall in the first three months of 2020 due to the new virus. The company warned that Q1 revenues would decline by 5 to 13% compared with 2019.
Bausch Health factored the coronavirus outbreak in China when deciding its 2020 guidance, due to its expected impacts on operations and finances. The company expects fiscal 2020 revenue within $8.65 billion to $8.85 billion.
Best Buy said it factored supply chain disruption from the coronavirus into its guidance, but it did not quantify it. It said it expected COVID-19's effect to be concentrated in the fiscal half of the year. It did not factor in potential changes in customer behavior, however, saying that was too difficult to predict.
Big Lots said it anticipates supply chain disruption due to the coronavirus outbreak.
Blackstone said in a regulatory filing that COVID-19 presents "material uncertainty and risk with respect to our and our funds' performance and financial results."
BMW last week said its China sales have been negatively impacted by the coronavirus, however the company stuck to its guidance of increasing passenger car sales for the year.
Booking Holdings, a U.S. online travel agency, withdrew its first-quarter guidance due to worsening impact of the coronavirus. The company said it remains confident in its long-term prospects and strategy.
Boston Scientific said it expects a negative sales impact estimate of $10 million to $40 million due to the potential effect of the coronavirus on procedure volumes in China and supply chain disruptions.
The Jack Daniel's Parent lowered its fiscal 2020 guidance to reflect its coronavirus impacts. The company expects full-year EPS of $1.75 to $1.80, below the $1.82 FactSet consensus.
Burberry said the outbreak of the coronavirus was hitting luxury demand in China and Hong Kong, both important markets for the British fashion brand. The label said there was a significant decline in the number of shoppers visiting its outlets that remained open in China, which were also opening for shorter periods each day.
Callaway Golf said the company anticipates a $25 million loss on sales due to the coronavirus. "We believe it will certainly have an impact on our supply chain, near-term demand for our products in China as well as potential demand in the markets outside of China, particularly neighboring markets," the company said.
Canada Goose forecast a hit to its annual profit and revenue as the coronavirus outbreak in China hurt store traffic, sending shares of the luxury apparel maker down 5%. Canada Goose, which generates about a fifth of its revenue from Asia and sells $1,000 parkas, operates three stores in China and sells on online marketplace Tmall.
Michael Kors owner Capri Holdings cut its forecasts as it warned of a $100 million hit to revenue due to the coronavirus outbreak in China, which has led to 150 store closures and travel restrictions on high-spending tourists. The company cut its revenue forecast to $5.65 billion from $5.8 billion. It also lowered it full-year profit forecast to $4.45 to $4.50 per share from a prior outlook of $4.95 per share.
Carnival said in March that it would suspend global operations of its 18 cruise ships for two months due to the outbreak. The cruise line said the suspension was out of abundance of caution.
Caterpillar reopened most of its facilities in China after getting the go-ahead from the local government following the coronavirus outbreak, the company said. The heavy equipment maker has multiple facilities in the world's second-largest economy.
Hong Kong's Cathay Pacific Airways said it expects to report a "substantial" loss in the first half of this year as it reduces capacity due to the coronavirus outbreak, after it posted a 28% drop in 2019 earnings.
Church & Dwight
Chruch & Dwight predicted a one-to-two week delay to return to manufacturing because of the extension of the Chinese Lunar New Year holiday. The company said it doesn't expect a material impact in its first quarter.
Ciena said it expects the coronavirus outbreak to have an adverse impact on its fiscal second-quarter revenue and results of operations.
Coca-Cola said that the COVID-19 outbreak could drag down its first-quarter earnings per share by as much as 2 cents. The company still expects to meet full-year targets, as of Feb. 21.
Colgate-Palmolive said it is predicting a modest negative impact to its first-quarter revenue and earnings per share.
Columbia Sportswear said it expects the outbreak will have a "material impact" on its near-term financial performance in China. The company said that it expects to see a continued negative impact on its stores until normality returns.
U.S. oil and gas producer ConocoPhillips expects demand growth to slow, hit by China's coronavirus epidemic. The company expects demand growth in 2020 to be lower by 100,000 to 200,000 barrels per day from its earlier projection of 1 million bpd, CEO Ryan Lance said in a conference call with analysts.
Costco said the impact from the new coronavirus boosted its monthly same-store sales for February by roughly 3%. It also said, in some instances, it is placing limits on how much people can purchase. It said it is working speedily to limit out-of-stocks in grocery and household necessities.
Coty said the recent coronavirus outbreak would have a relatively small impact on its earnings. Chief Financial Officer Pierre-Andre Terisse told Reuters the company would take a hit but it would be smaller than that of its competitors.
Cree said that because of the extension of the Lunar New Year holiday in China, its Wolfspeed revenue is expected to be flat to down on a sequential basis, about $116 million to $120 million. That's due to external headwinds, softness in 5G network spending and lower electric vehicle sales in China, it said.
The shoemaker said disruptions could hurt first-quarter and full-year revenue by $20 million to $30 million and $40 million to $60 million, respectively.
Cummins said in a conference call that it expects domestic revenues in China to decrease 7% this year, as it has several manufacturing operations near the outbreak's epicenter. "It is expected that our industry, as well as others, will experience supply chain disruptions and loss of revenues in the first quarter due to the coronavirus outbreak," the company said.
Delta Air Lines
Delta Air Lines withdrew its fiscal 2020 guidance "until we have more clarity on the duration and severity of the current situation." Delta made broad cuts to flights as coronavirus drives down demand and instituted a hiring freeze.
Diageo, the world's biggest spirits company, said the spread of coronavirus in greater China and the Asia Pacific region could knock as much as $260 million off its profit in 2020.
Disney said the company expects an impact of $135 million on second-quarter operating income from the Shanghai park and about $40 million from the closure of the Hong Kong park, if its Disney parks remain closed. Domestically, the company doesn't expect traffic at its U.S.-based parks to be impacted by lower visitation of guests from Asia.
Eastman Chemical said in its Q4 earnings call that "it's a little to early to call what those (coronavirus) impact were going to be." The company closed its manufacturing facility in Wuhan, China, which is the epicenter of the outbreak.
Emerson Electric said it expects the coronavirus to reduce its fiscal second-quarter sales by $100 million to $150 million. It previously predicted a $75 million to $100 million drop.
EssilorLuxottica expects continued profit growth this year after stronger 2019 results, saying that the outbreak of coronavirus had not hit output at its Italian factories and its production in China was getting back to normal. The owner of Ray-Ban, said the coronavirus had, however, hurt its Chinese business, which represents about 5% of its total revenue.
Estee Lauder cut its profit forecast for fiscal 2020 in February, citing the coronavirus epidemic in China, a key market for the maker of Clinique skincare products. The company trimmed its fiscal 2020 per-share earnings forecast to between $5.60 and $5.70 from between $5.85 and $5.93.
The ticketing company said it expects major events to be cancelled across the globe. "We have seen early evidence of event cancellations that appear to be associated with the coronavirus, and we expect the outbreak will impact live events and attendance in the near-term," the company said in an earnings call.
Expedia in March withdrew its full-year 2020 Adjusted EBITDA guidance due to negative impacts from the pandemic. The travel company added that it now expects the negative Q1 impacted to be greater than the $30 million to $40 million range it provided in February.
Expeditors said its in Q4 earnings note that "there remains a great deal of uncertainty as to when factories will return to full production, and those delays will have a significant impact on freight volumes moved in Q1." It added that is also may further impact global supply chains.
FedEx said in early March that it continues to operate inbound and outbound flights to and from affected countries but work and travel restrictions could delay some shipments.
Fossil warned that the "dynamic nature" of the COVID-19 outbreak means it cannot reasonably estimate its long-term financial impact, though sales are expected to be disrupted. "Given our strong inventory levels and the efforts of sourcing and assembly sites to safely return to production in the next few weeks, we do not anticipate a material disruption to our supply chain over the next several months," it added.
Gap said "it is not currently possible" to quantify the impact that the coronavirus will have on its business in 2020. But it did say it expects to at the very least take a sales hit of roughly $100 million, which would lower earnings by 10 cents per share, during the first quarter in Asia and Europe. Gap also said it will suspend share repurchases in 2020 because of the coronavirus.
Research and advisory firm Gartner estimated that its first-quarter financial impact from cancelling or postponing conferences will be about $36 million of adjusted EBITDA.
General Electric said the coronavirus would wipe out a substantial chunk of industrial free cash flow in the first quarter, but stuck to full-year financial targets the company set in January. GE predicted that the outbreak would erase $300 million to $500 million from industrial free cash flow and cause a hit of $200 million to $300 million to its first-quarter operating profit.
Goodyear Tire said its operations in China have been disrupted by the coronavirus and has continued to face a challenging global environment. The company said it's not clear what the full impact of disruption will be yet.
The dietary supplement company beat Q4 estimates but warned the coronavirus could slow sales in China. "The extent and duration of the business disruption and related financial impact from the coronavirus cannot be reasonably estimated at this time but could materially impact our consolidated results for the first quarter and for the full year 2020," it said.
Birkin handbag maker Hermes said it was seeing a gradual return to normality in China, but Hermes CEO Axel Dumas said that despite shops reopening, store traffic in greater China had yet to recover from the fallout of the health scare, which is now spreading beyond Asia.
Hershey said during its Q4 earnings call that the company expects to have some impact in China from the coronavirus, its operations are predominantly North American based.
Hewlett Packard Enterprise
Hewlett Packard Enterprise cut its free cash flow forecast for the year citing supply constraints due to the coronavirus outbreak, and reported a lower-than-expected quarterly revenue.
U.S. hotel operator Hilton Worldwide Holdings said it was withdrawing its 2020 financial outlook, citing a demand slump as a result of the coronavirus outbreak.
Japan's Honda Motor said it will temporarily cut back local production due to difficulty in sourcing parts amid the coronavirus outbreak. "Honda has slightly adjusted its production plan at the (two) plants in Saitama. The overall impact is limited," a company spokesman told Reuters.
Hormel in February reaffirmed its fiscal 2020 sales and earnings guidance. "We have started to see a negative impact on our business in China from the coronavirus outbreak, but we are not yet able to forecast the impact for the remainder of the year," the company said.
Host Hotels withdrew its full-year 2020 guidance due to ongoing financial impact of reduced travel demand. The company said that total revenue and net income have been negatively impacted by about $97 million and$48 million so far, respectively.
HP's bottom line will take a hit this quarter due to the coronavirus epidemic, CEO Enrique Lores told CNBC. "We have estimated that in Q2 this will have an 8 cents impact on EPS, and this is what we have built in our predictions," he said.
Hyatt said it was withdrawing its 2020 earnings outlook, as the coronavirus outbreak spreads across the globe hurting travel demand.The company had previously forecast adjusted profit for 2020 between $760 million and $780 million.
Illinois Tool Works
Illinois Tool Works said the coronavirus impact is unclear, but trimmed its guidance. "We've baked into our guidance a lost week of production, assuming that we all return to work in China on Feb. 10 ... we'll continue to monitor the situation closely," the company said.
IMAX had to close all of its 702 theaters across China, though the company said that it sees the situation as a short-term problem. "We are confident the business will rebound and resume delivering attractive growth and strong performance once conditions in China normalize," the company said.
IPG Photonics said that prior to the coronavirus outbreak, there were signs that business in China was firming. Though ongoing disruptions "makes forecasting our business in China and the impact on global demand very challenging at this point."
Apple supplier Jabil said its second-quarter earnings will be hit. Jabil said its factories were running at roughly 65%-70% capacity as the epidemic continues to spread. The company is estimated to report revenue of $6.33 billion in the second quarter, according to IBES data from Refinitiv.
U.S. budget carrier JetBlue abandoned its financial outlook as travel demand takes a hit from the coronavirus outbreak. JetBlue, which pulled its first-quarter and 2020 earnings forecast, said it was adjusting schedules between March and early May and was considering more flight cancellations.
The Chinese e-commerce site forecast at least a 10% rise in revenue for the coronavirus-hit first quarter after posting better-than-expected quarterly results. The forecast reflects the company's current expectations, which is subject to change in light of uncertainties related to how the coronavirus outbreak develops, JD said in a statement.
Sensor specialist AMS reported fourth-quarter revenues above its own forecast amid strong demand for high-end smartphones but warned revenues in the first quarter would fall even without negative effects from the coronavirus. AMS has no production facilities in China, but supply chain disruptions in the country due to the new virus could hit its business
Kontoor Brands said it anticipates a potential negative global impact of about four points to Q1 revenue, due to operation impacts in China. The company said that there's currently no disruptions in manufacturing or sourcing of material.
Las Vegas Sands
Casino and resort company Las Vegas Sands said the company has experienced a decline in every segment for every location. But once the outbreak passes, the company expects customer demand in its Macau casinos to skyrocket.
Lenovo warned that supplies would be constrained in Q1. Lenovo is the largest PC maker by unit sales, and its COO Gianfranco Lanci said on a conference in February that "the entire industry will not have enough supply."
Levi Strauss shut about half of its stores in China due to the outbreak of a new coronavirus and will take a near-term financial hit as a result of the epidemic, the company said. It said the coronavirus impact was not baked into the company's full year forecast, but will be quantified when it reports first quarter results in April.
Logitech International said supply problems caused by the coronavirus outbreak will dent its full year profit, as it gave its outlook for the next financial year. The maker of computer mice and keyboards for players of Fortnite and League of Legends, said it expected operating profit for the year to the end of March 2020 in the range of $365 million to $375 million, down from its previous view for $375 million to $385 million.
Maybelline maker L'Oreal said the coronavirus health crisis would have a short-term hit on its sales in China and across Asian airports, after a period of booming business in the region. The company said it expects demand in China will bounce back quickly after the outbreak eases.
Luckin Coffee said it expects fiscal first-quarter revenue to end at nearly half of its current estimate of $315.3 million due to the extension of the Chinese Lunar New Year holiday and low number of stores open.
Deutsche Lufthansa will slash up to half the flights across its stable of airlines from April as passengers balk at flying for fear of contracting the coronavirus.
The clothing retailer closed the majority of its 38 stores in China for a period of time, though some have since resumed operations. The company is expected to disclose more on its financial and operational impact when it reports Q4 earnings March 26.
The luxury retailer said it's "cautiously confident" for fiscal 2020, "despite buoyant demand at the beginning of the year, vigilance maintained in an uncertain geopolitical context." The company is expected to discuss the coronavirus impact further when it reports Q1 earnings in April.
When Macy's reported earnings in late February, it warned investors that the coronavirus outbreak could hit the department store chain. About 70 Macy's stores have a "strong Asian customer base," and those stores have seen "some slowdown of sales," CEO Jeff Gennette said. Still, Macy's has not yet factored a hit from the coronavirus into its 2020 outlook.
Shipping giant Maersk warned that the coronavirus outbreak would weigh on earnings this year. Maersk forecasted a weak start to the year because factories in China were closed for longer than usual after the Chinese New Year holiday.
Mandarin Oriental said its performance is being "significantly impacted by the ongoing coronavirus, particularly in Hong Kong." The company said its 2020 financial results "will depend on the duration, geographic extent and impact of the coronavirus and the measures taken to control it."
Hotel operator Marriott International said it expects a roughly $25 million hit to its monthly fee revenue. "Due to the uncertainty regarding the duration and extent of the coronavirus outbreak, Marriott cannot fully estimate the financial impact from the virus, which could be material to first-quarter and full-year 2020 results," it said, adding that room additions in 2020 could also be delayed as a result of the outbreak.
Marvell Technology widened its first-quarter guidance range on revenue over coronavirus uncertainty. The company's guidance for Q1 reflects reduction of about 5% of revenue to account for coronavirus impacts the company is aware of, so far.
The credit card company said its net revenue in the first quarter will likely take a hit of between 2 and 3 percentage points if the coronavirus outbreak persists through the quarter. The company now expects revenue growth between 9% and 10% in the current quarter as the virus impacts travel and e-commerce across borders.
McDonald's management called the coronavirus "concerning" on its earnings call in January. We have closed all restaurants in the Hubei province, which is several hundred restaurants that have been closed," McDonald's CEO Chris Kempczinski said to investors on the call.
The U.S. casino operator withdrew its financial forecast for 2020, as it assesses how the coronavirus epidemic will impact operations. MGM said it was difficult to weigh the fallout of the epidemic on its business as the suspension could be extended and customer traffic could fall further at its properties.
Microship lowered its fourth-quarter net sales growth forecast to flat sequentially, down from its previous 2-9% outlook, and withdrew its EPS guidance. The company cited "very weak" demand in Asia.
Microsoft said it doesn't expect to meet the quarterly revenue guidance it previously provided for the segment that includes Windows.
Mondelez International forecast a hit to its first-quarter revenue and margins from the coronavirus outbreak and said four of its manufacturing plants in China had resumed operations. The Oreo maker, however, said the plants were not operating at full capacity and that it had been facing a shortage of trucks in China, resulting in additional transportation costs.
New York Times
The New York Times Co. said it's seeing a slowdown in advertising bookings due to "uncertainty and anxiety" caused by the coronavirus. The company said it has "begun to see see some economic impact" from the virus.
The retailer warned of a financial impact after it closed about half its own stores in China and cut operating hours at the rest.
Nintendo said in early February production and deliveries of some of its products, including its flagship Switch console, will be delayed due to the outbreak of the new coronavirus. Nintendo noted that this will have an impact on its domestic Japanese market only.
Nu Skin's executives said the company expects the new coronavirus to affect its short-term business but remains confident in its long-term outlook. The company projects a decline in Mainland China sales of 20% to 25%, it said.
The developer of cloud storage and networking software cited coronavirus concerns as one reason for lowering its 2020 revenue outlook. The company said that software and support sales for the full year, based on total contract value, will be between $1.29 billion and $1.36 billion, down from an earlier forecast of $1.3 billion to $1.4 billion.
Nvidia forecast first-quarter revenue that topped Wall Street expectations, powered by sales of its chips to cloud computing vendors, even as it projected a $100 million hit from the coronavirus outbreak.
NXP Semiconductors updated its first-quarter revenue outlook due to potential coronavirus impacts. "While we have not seen any material order cancellations, we currently expect the impact to revenue in the first quarter to be in the range of $50 million to $150 million," the company said March 1.
ON Semiconductor cut its first-quarter revenue outlook amid the fast-spreading coronavirus, sending its shares down 4% in premarket trading. The U.S. chipmaker expects revenue to be in range of $1.28 billion to $1.33 billion, compared with its previous outlook of $1.36 billion to $1.41 billion.
Papa John's said it has temporarily closed 50 franchised stores in China as a result of the coronavirus and reported a decline in same-store sales for the year. The company has seen a countrywide sales impact year to date, with sales in China down mid- to low double digits year over year, CEO Rob Lynch said in an interview with CNBC.
PayPal said the coronavirus outbreak could have a negative impact on its revenue expectations, and warned that revenue for the first quarter of this year would be toward the lower end of the guidance it gave when it reported earnings in January. The company said it now expects Q1 revenue to hit the lower end of its range of $4.78 billion to $4.84 billion.
PerkinElmber said it expects first-quarter revenue and earnings per share to come in below its anticipated guidance. The company said it experienced significant deterioration in demand in China throughout February due to the extension of the Lunar New Year holiday and the coronavirus.
French spirits group Pernod Ricard warned in February that the coronavirus outbreak would have a severe impact on its third-quarter. The Martell cognac owner, the biggest international spirits maker in China, also cut its full-year profit growth outlook, but was confident over its medium-term Chinese prospects.
Dutch health technology company Philips said it expects the effects of the coronavirus outbreak to impact its financial results in the first quarter of this year. "The impact on public life and the industry in China is also affecting the demand for Philips' consumer portfolio in the country and Philips' global supply chain," the company said.
Procter & Gamble
P&G said in February that its current-quarter revenue and profit would take a hit from supply chain disruptions and weak demand due to the coronavirus outbreak in China, the consumer goods company's second-biggest market.
The German sportswear group said it expected China's coronavirus outbreak to hit its sales and profits in the first quarter but it still hopes to reach its targets for 2020. Puma said more than half of its stores in China were temporarily closed and the decline of the Chinese tourism business was also hurting other markets, especially in Asia.
The retailer said it had temporarily closed majority of its Calvin Klein and Tommy Hilfiger stores in China due to the coronavirus outbreak. The company said it would have exceeded its fourth-quarter adjusted earnings forecast of at least $1.79 per share, if not for the epidemic.
Qantas Airways said it will ground the equivalent of 18 planes, freeze recruitment and ask its 30,000 staff to use up annual leave as it grapples with falling demand. The carrier estimated the coronavirus would result in a nearly $64 million to a $95 million hit to underlying earnings before interest and tax for the financial year, accounting for capacity adjustments and lower fuel costs.
Qorvo, a radio frequency chip supplier for Apple's iPhones, lowered its fourth-quarter revenue expectations to $770 million, down from its predicted range of $800 million to $840 million in late January. Qorvo's fourth-quarter results are expected May 5.
The chip maker said that the coronavirus outbreak poses a potential threat to the mobile phone industry, with a possible impact on manufacturing and sales. Qualcomm's chief financial officer said the company expects "significant uncertainty around the impact from the coronavirus on handset demand and supply chain."
Ralph Lauren said in February it expects a $55 million to $70 million hit to its fourth-quarter sales in Asia from the coronavirus outbreak in China. Supply chain disruptions in China could also impact a small portion of fourth-quarter orders globally, Ralph Lauren said.
Royal Caribbean Cruises withdrew its first-quarter and full-year forecast, and increased its credit capacity by $550 million to boost liquidity amid concerns around the rapid spreading of coronavirus. The company said it would cut spending, operating expenses and take other actions to improve liquidity by at least another $1.7 billion in 2020.
Sanderson Farms said it on its latest earnings call that it continues to receive strong indications of interest from buyers in China, despite disruptions.
The fast-casual chain said it's facing "potentially significant headwinds" due to the coronavirus outbreak in China, where it has seven stores, and concerns throughout the rest of Asia.
The airline will temporarily cut flights across its global network to May, as a coronavirus epidemic hits demand for services to the Asian city state, as well as through the key transit hub. It declined to say what percentage of capacity it had cut in response to Reuters, citing commercial sensitivity.
Skechers said in March the fallout to the company from the coronavirus has gotten worse since its Feb. 6 update. The company didn't change its guidance, which it offered in February, but said "we might be open to changing that."
Skyworks Solutions, a chip supplier to Apple Inc's iPhones, said in March that the coronavirus has not significantly disrupted its manufacturing operations. The chipmaker, however, cut its second-quarter revenue forecast, saying interruptions in global supply chains is hurting demand for its products.
The company raised its annual profit outlook on strong sales of smartphone image sensors after reporting a smaller-than-expected decline in quarterly profit, but it warned of an impact from the Wuhan coronavirus on its global supply chain.
Southwest Airlines warned its first-quarter operating revenue would take a hit of up to $300 million from the coronavirus outbreak, prompting it to cut its quarterly revenue outlook. The airline said it now expects first-quarter total revenue per available seat mile (a closely followed measure of airline performance) to be down 2% to up 1%, compared with the 3.5% to 5.5% growth it forecast earlier.
Standard Chartered in late February booked a robust 46% jump in annual profit but warned a key earnings target would take longer to meet as the coronavirus epidemic adds to headwinds in its main markets of China and Hong Kong. The epidemic could lead to a rise in bad loans, it said, but did not provide specific guidance on the potential impact.
Starbucks expects that temporarily shuttering stores in China will hit its second-quarter revenue in the country by $400 million to $430 million. The closures are also likely to result in a 50% decline in its same-store sales in China. The company said it plans to provide an update on April 28 to its fiscal 2020 outlook, which currently excludes the impact of the virus.
Coach handbag maker Tapestry cut its annual profit forecast, warning of a sales hit of up to $250 million due to the coronavirus outbreak in China, where it has closed a majority of its stores. Tapestry forecast fiscal 2020 earnings of about $2.15 to $2.25 per share, compared to its previous outlook of $2.57 per share.
Teck Resources in February lowered its forecast for steelmaking coal sales, citing extreme weather and port constraints due to the coronavirus. "Given the potential for weaker demand in the short-term due to the effects of the coronavirus and the high inventory levels due to rail and port constraints, we are choosing to temporarily reduce production," Teck said.
Tenneco said it expects a $150 million hit due to coronavirus-related complications. The company said it sees full-year revenue of $16.7 billion to $17.2 billion instead of the anticipated $17.1 billion.
Tesla CFO Zachary Kirkhorn said on a 2019 fourth-quarter earnings call that the coronavirus outbreak would only cause the business a week-and-a-half production delay in China. By February 13, 2020, the company changed its tone and said in an annual financial filing that the coronavirus outbreak may have a material adverse impact on its business.
The jewelry retailer has temporarily closed several stores in affected areas in China. Tiffany is expected to discuss the matter further in its March 20 earnings call.
Home builder Toll Brothers said in February that the coronavirus outbreak in China had led to shortages of lighting fixtures and small appliances, forcing it to delay the sales of 11 homes in California, one of its biggest markets. "We believe 11 closings in California have been pushed out, we hope to the second quarter, due to the virus," Chief Executive Officer Douglas Yearley said on a post-earnings call.
Toyota Motor said in February that operations at its plants in Japan may be affected by supply chain issues linked to the new coronavirus outbreak in the coming weeks, as the global outbreak gathers pace.
Trivago declined to provide guidance for fiscal 2020 after it reported weak fourth-quarter earnings in February. The company said in an SEC note that the coronavirus outbreak "will have a negative impact on our business volumes" in 2020.
Under Armour in early February said it expected the coronavirus outbreak in China to lower sales by roughly $50 million to $60 million during the fiscal first quarter. It has not yet updated its outlook, since the virus has spread globally and taken more lives.
United Airlines withdrew its full-year 2020 guidance on Feb. 24, citing heightened uncertainty over how the duration and spread of the coronavirus to other regions could impact overall air travel demand. In a regulatory filing, the company stuck to its forecast for the first quarter thanks to cost savings including lower fuel costs, and said it believes it will be able to deliver earnings growth in 2021.
The Apple supplier warned in late February that its 2020 revenue could take a 10% hit due to the coronavirus. The company expects its annual revenue to come in $40 million to $50 million lower than expected.
United Parcel Service warned in early March that the coronavirus could weigh on its first-quarter results and disrupt the shipment of goods in affected countries. The company said that although it was too early for UPS to quantify the impact of the disruption, the company was seeing a rebound in demand this week as fresh cases of infections slowed.
The clothing retailer pulled its fiscal first-quarter guidance on March 11. Urban Outfitters cited a decline in store traffic in areas that have been heavily impacted by COVID-19.
Vans parent VF said it has closed about 60% of its stores in China and seen a 70% drop in store traffic for the locations that remained open. The company will update its guidance for fiscal 2020 when it reports earnings in May.
Visa cut its revenue guidance for its fiscal second quarter due to the coronavirus. The company cited a "sharp slowdown of our cross-border business, in particular travel related spending," due to a slowdown travel to and from Asia.
Walmart's big effect so far has been stockpiling, but it has not changed its guidance since its recent earnings call.
The Chinese social media company said in its fourth-quarter earnings call that the coronavirus is having a negative impact and posts short-term challenges across the board. The company said it anticipates Q1 revenue to decrease by 15% to 20% year-over-year on a constant currency basis.
Whirpool lowered its first-quarter profit guidance due to its sales and supply chain in China. The company also has manufacturing operations in Italy and expects the outbreak there to hurt sales.
The company said that it expects operations to remain soft for up to six months as the market recovers from travel disruptions. In its earnings call, Wyndham said it expects a loss of $5 million to its first-quarter adjusted EBITDA and potentially a loss of $8 million to $12 million of its full-year adjusted EBITDA.
Wynn temporarily closed its Macau casino in February as the coronavirus spread across China and its regions. The company said that it lost $2.4 million to $2.6 million per day that the casino was closed.
The company's CEO said in its Q4 earnings call that the company's second largest market is China, where deliveries had been essentially halted. Xylem predicted that its first-quarter impact will be around 1 point to 2 points of revenue and $0.03 to $0.04 of EPS.
Yum Brands, which owns Taco Bell, KFC and Pizza Hut, said that its 2020 results could fall short of its long-term outlook, which includes annual same-store sales growth in a range of 2% to 3% and net new restaurant growth of 4%.
- CNBC's Amelia Lucas, Melissa Repko, Lauren Thomas and Michael Wayland contributed to this report, in addition to Reuters.