Will companies in the Dow report earnings as usual despite COVID-19 disruptions, or delay them because they can?
SEC extends deadline to provide certain disclosures, such as earnings, by 45 days, so MarketWatch asked all 30 Dow components their plans
The Securities and Exchange Commission will allow companies to delay reporting earnings, if needed, but that doesn’t mean any of them will.
The SEC said last week that it would extend the deadline for companies to provide certain disclosure reports by 45 days, given business disruptions resulting from the COVID-19 pandemic. The companies requesting delays just have to provide a summary of why an extension is needed for each report, the SEC said.
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Some of the companies within the Dow Jones Industrial Average DJIA, -1.83% have already issued press releases stating when their earnings reports will be released. But as many companies have withdrawn financial guidance, given difficulties in assessing the potential impact of the coronavirus health crisis, they can still look to push back releasing those reports.
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MarketWatch asked all 30 Dow companies whether they would take advantage of the added flexibility in reporting results.
Here is what the companies that responded said (in alphabetical order):
American Express Co.. AXP, -5.16%
American Express is scheduled to report first-quarter first-quarter results on April 24.
“We are still focused on 4/24 as a date,” said Marina Norville, vice president of corporate affairs and communications.
Caterpillar Inc.. CAT, +3.87%
CAT, +3.87% “Caterpillar’s first-quarter earnings will be released on April 28, 2020 as stated in the company’s recent press release issued March 26, 2020,” said Kate Kenny, corporate media manager at Caterpillar, in an emailed response.
Chevron Corp.. CVX, +0.70%
CVX, +0.70% Chevron is projected to report first-quarter results on or about April 24, according to FactSet, after reporting result on April 26 a year ago.
“We are planning to report our earnings following a similar schedule and process as we have done in the past,” said Sean Comey, senior adviser–external affairs at Chevron....
