National Grid Has Avoided Material Virus Hit to Date But Expects Capital Program Delays
April 02 2020 - 2:49AM
Dow Jones News
By Jaime Llinares Taboada
National Grid PLC said Thursday that it has not had any material
hit from the coronavirus pandemic to date, although its capital
program has had some delays and disruption.
The power company said it has suspended debt collection and
customer terminations in the U.S., causing lower turnover and
increasing the risk of bad debt.
For the year ended March 31, the U.K. group expects underlying
performance before any coronavirus impacts to be in line with
guidance.
National Grid will take into account "expected business
performance and regulatory developments, including an assessment of
the impact of the coronavirus" for determining the final dividend
for the fiscal year, it said.
National Grid was expected to report earnings before interest,
taxes, depreciation and amortization of 5.36 billion pounds ($6.64
billion) for fiscal 2020--taken from FactSet and based on three
analysts' forecasts--which would be up from GBP5.16 billion a year
earlier.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
April 02, 2020 02:34 ET (06:34 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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