"We think it's reasonable to expect industry-wide delays in terms of delivery around the world — including potentially missed shipment[s] and service windows," CEO Patrik Frisk says.
XPO Logistics will continue to consider a sale and or spinoff of its business units after reporting a beat on earnings and a miss on revenues on Monday.
Megacap tech names have posted strong results, but cyclical companies with global exposure are seeing estimates decreased amid the coronavirus outbreak.
Canada Goose Holdings Inc said on Friday lower store traffic in China and travel restrictions due to the coronavirus epidemic would impact its revenue and lead to a smaller profit in 2020, sending its shares down 4%.
Coach handbag maker Tapestry Inc cut its annual profit forecast on Thursday, citing an up to $250 million hit to sales from the coronavirus outbreak that has forced it to close a majority of its stores in mainland China.
Fiat Chrysler posted a 7% rise in fourth-quarter profit on Thursday, boosted by strong business in North America and better results in Latin America as it heads into a merger with France's PSA.
Toyota Motor nudged up its annual operating profit forecast by 4.2% on favorable currency rates and better-than-expected sales, but added the impact of the new coronavirus was hard to gauge and had not yet been factored in.
Fox Corporation said breaking news coverage of the impeachment hearings for president Donald Trump was part of the reason its cable ad revenue fell 5% in its second quarter.
Peloton shares plummeted after the fitness company's second earnings report since its public debut in September showed mounting losses and slowing revenue growth.