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Lendlease issues earnings downgrade as COVID-19 bites Save Share Global development giant Lendlease has issued a sharp downgrade of its operating earnings guidance to between $375 million and $410 million, in the first big move to clear the decks by newly appointed chief executive Tony Lombardo. Driving the downgrade is the ongoing impact of the COVID-19 pandemic on Lendlease’s operating business, particularly in the UK, as well as the status of its non-core business, the company said. Incoming chief executive Tony Lombardo has embarked on a wide-ranging review of operations.   Arsineh Houspian While Lendlease does not typically issue earnings, market consensus was for an operating profit of around $460 million.

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