Allegion Plc (NYSE: ALLE) reported a 99% dip in earnings for the first quarter of 2020 due to the charges from goodwill and indefinite-lived trade name impairments.
The company previously withdrew its 2020 outlook for revenue and EPS due to the uncertainty surrounding the COVID-19 pandemic, as well as its impact on demand and the supply chain. The company expects the pandemic will cause near-term negative financial impacts to revenue, income, and cash flow for its business.
The company is taking proactive measures such as reductions in discretionary spending, eliminating non-essential investment spend, implementing a hiring freeze, and temporarily suspending share repurchases. On April 10, the company said it expects to record restructuring charges of $30-35 million in total, of which $20-25 million are expected to be incurred during 2020 with the remainder to be incurred during 2021.
Most Popular
Trxade (MEDS) is increasing the breadth of product offerings: CEO Suren Ajjarapu
Trxade Health Inc. (NASDAQ: MEDS) is an online pharmaceutical marketplace that provides a platform for independent pharmacies to operate more effectively. The company’s digital platform helps optimize drug procurement and
AMAT Stock: Is now the right time to invest in Applied Materials?
It is estimated that the size of the global chip manufacturing equipment market would nearly double from the current levels to about $142 billion in the next eight years. Applied
Here’s a look at Take-Two Interactive Software’s (TTWO) expectations for the coming year
Shares of Take-Two Interactive Software (NASDAQ: TTWO) were down over 2% on Friday. The stock has dropped 32% year-to-date and 35% over the past 12 months. Earlier this week, the
