Invacare Corporation Announces Preliminary Financial Results for 2Q20 and Provides Business Update
Invacare Corporation (IVC)
Last invacare corporation earnings: 2/10 06:00 am
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US:NYSE Investor Relations:
invacare.com/cgi-bin/imhqprd/investor-relations.jsp
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Source: Business Wire
ELYRIA, Ohio--(BUSINESS WIRE)--Invacare Corporation (“Invacare”)(NYSE:IVC) will participate on Tuesday, July 14, 2020 in the 20th Annual CJS Securities New Ideas Summer Conference where the company's management will provide a business update and share certain expected preliminary financial results for the second quarter ended June 30, 2020.Second Quarter 2020 Preliminary Financial ResultsFor 2Q20, the company expects to report unaudited and preliminary net sales of approximately $196 million, a decrease of approximately 17% compared to the 2Q19. When adjusted for the impact of foreign currency translation and the divestiture of Dynamic Controls, preliminary constant currency net sales(a) decreased 13% compared to 2Q19. Adjusted EBITDA(b) is expected to be favorable to 2Q19 driven by higher gross margin as a percentage of net sales and lower SG&A expenses.Commenting on the second quarter, Matt Monaghan, chairman, president and chief executive officer stated: “Given the unprecedente
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