CNBC: Nearly 20% of S&P 500 companies have warned investors about coronavirus impact

CNBC reports that major companies are warning investors about coronavirus impact:

• Just shy of 20% of S&P 500 companies have warned about coronavirus effects, according to analysis of more than 180 earnings transcripts and other releases.
• Another sizable number of S&P executives said at the time of their earnings release that it was too early to tell, but promised to keep stakeholders aware.
• McDonald’s confirmed location closures in China.
• Three hundred ninety-two of the 500 S&P components have reported fourth-quarter earnings as of Friday.

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Nearly one in five S&P 500 companies have said China’s virulent coronavirus will impact their revenues or profits, underscoring the far-reaching toll the disease is expected to take on businesses around the world.

A CNBC analysis of more than 180 earnings transcripts and other corporate releases since the beginning of 2020 showed a high level of concern.

While most management teams that have warned of a revenue hit said they don’t expect any impact to full-year figures, many expect a drag in the first quarter.

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