Shaw Communications withdrawing guidance, cutting spending after uncertainty of COVID-19, oil prices [Toronto Globe and Mail (Ontario, Canada)]
Shaw Communications Inc. (SJR)
Last shaw communications inc. earnings: 4/9 04:30 pm
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Source: Toronto Globe and Mail
Shaw Communications withdrawing guidance, cutting spending after uncertainty of COVID-19, oil prices Roughly a third of the company’s consumer wireline revenue comes from Alberta, while its business division generates about 35 per cent of its revenue in that province CHRIS WATTIE/Reuters Roughly a third of the company’s consumer wireline revenue comes from Alberta, while its business division generates about 35 per cent of its revenue in that province Shaw Communications Inc. is cutting back on spending and withdrawing its financial guidance for the year as it braces for the economic double whammy of the coronavirus pandemic and collapsing oil prices. The Calgary-based telecom provider has reduced its travel costs and discretionary spending and expects that some of the projects it had planned to invest in will be delayed, Trevor English, Shaw’s chief financial and corporate development officer, said Thursday during a conference call to discuss the company’s second-quarter earnings.
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