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HNGR

Hanger

$14.24 /

+1.18 (+9.04%)

16:26
03/24/20
03/24
16:26
03/24/20
16:26

Hanger withdraws FY20 guidance for revenue and adj. EBITDA

Hanger announced that it expects to experience a near-term reduction in patient appointment volumes in its clinics due to the effects of the COVID-19 pandemic and the related quarantine and social activity cessation measures being implemented by Federal, State and local authorities to respond to and suppress the virus. As a result, the company may find it necessary to reduce the operating hours or temporarily close certain of its clinics, and experience reductions in other business volumes, during the periods and in the geographic regions affected by the virus. Accordingly, due to lack of certainty of the effects and duration of the virus, the company is withdrawing its earnings outlook for revenue and Adjusted EBITDA for 2020. As the COVID-19 outbreak in the United States remains in its early stages, the company is unable to predict the potential future effects of the outbreak on its business or prospects.

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