By Tomi Kilgore and Jeremy C. Owens, MarketWatch
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. Read MarketWatch's Coronavirus update ( ).
Some of the companies within the Dow Jones Industrial Average 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 But as many companies have withdrawn financial guidance, given difficulties in assessing the potential impact of the coronavirus health crisis, they can still look to push back releasing those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.
Don't miss: First-half earnings are a bust as coronavirus stops companies in their tracks. Will the second-half be better? It depends ().
MarketWatch asked all 30 Dow companies whether they would take advantage of the added flexibility in reporting results.
For one, Walgreens Boots Alliance Inc.(WBA) reported fiscal second-quarter results before Thursday's open, just like it said it would a month ago.
Here is what the other Dow companies that responded said (in alphabetical order):
American Express Co..(AXP)
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.
(CAT)"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.
(CVX)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.
Cisco Systems Inc..(CSCO)
Cisco lists May 13 as the date for fiscal third-quarter results on its investor-relations website.
"We have no plans to change our timing," a Cisco spokesman said.
(KO)Coca-Cola is projected to report first-quarter results on or about April 28, according to FactSet, after reporting results on April 23 a year ago.
A company spokesperson said there was "no additional information to share at this time."
(DOW)Dow said it would report first-quarter results on April 30.
"Consistent with our normal quarterly reporting process, our 10-Q is expected to file shortly thereafter," a spokesperson said.
A year ago, the company reported first-quarter results on May 2, and filed its 10-Q on May 3.
Exxon Mobil Corp..(XOM)
(XOM)"We're still planning to issue a press release and hold an earnings call on May 1," a spokesperson said in an emailed statement.
A year ago, the company reported first-quarter results on April 26 and filed its 10-Q on May 2.
Goldman Sachs Group Inc..(GS)
Goldman is scheduled to report first-quarter results on April 15.
A spokesperson said Goldman expects to report earnings "as previously scheduled."
A year ago, the company reported first-quarter results on April 15, and filed its 10-Q on May 6.
Home Depot Inc..(HD)
Home Depot is expected to report fiscal first-quarter results on our about May 19, according to FactSet.
"We haven't announced any changes in timing," a company spokesperson said.
Last year, the company reported first-quarter earnings on May 21 and filed the 10-Q on May 29.
Intel is scheduled to report first-quarter results on April 23.
"Our timing has not changed," a spokesperson said.
IBM has set a "preliminary" date of April 20 () on its website to release first-quarter results.
A company spokesperson said there was "nothing to say right now" regarding the timing of the earnings release.
Last year, IBM reported first-quarter results on April 16 and filed its 10-Q on April 30.
J.P. Morgan Chase & Co..(JPM)
(JPM)J.P. Morgan is currently scheduled to report first-quarter results on April 14.
"We're on track to report as scheduled," a spokesperson said.
Johnson & Johnson(JNJ)
Johnson & Johnson said on March 17 that it will report first-quarter results on April 14.
"Our financial and business leaders planned several weeks ago for the potential impact of the pandemic, to ensure a timely and compliant closing of our first quarter financial results," a J&J spokesperson said in an emailed statement. "Therefore we don't anticipate needing any of the extended timing provided by the SEC on mandatory filings."
Microsoft is projected to report fiscal third-quarter results on April 23, according to FactSet, after reporting last year's third-quarter results on April 24.
The company said it didn't have anything to share about the timing of its coming earnings report.
Travelers Companies Inc..(TRV)
Travelers said on March 9 that it will review first-quarter results on April 21.
"As of right now, we are still on a schedule," a spokesperson said.
Verizon said earlier in March that it will conduct its first-quarter earnings call April 24.
"We have no plans to change our timing," said a company spokesperson said in an emailed statement.
Visa is currently projected by FactSet to report fiscal second-quarter earnings on April 22. Last year, Visa reported results on April 24 and filed its 10-Q on April 26.
A company spokesperson said they had "no plans to share as of now."
Walgreens (WBA) said earlier this week that it "has not changed its earnings date," and it reported as scheduled before Thursday's opening bell, a fiscal second-quarter adjusted profit and sales () that beat expectations.
The following companies did not immediately respond to a request for comment:
Merck & Co. Inc..(MRK)
Procter & Gamble Co..(PG)
UnitedHealth Group Inc..(UNH)
United Technologies Corp..(UTX)
Walt Disney Co..(DIS)
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 02, 2020 15:13 ET (19:13 GMT)
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