Sysco (NYSE: SYY) reported an adjusted loss of $0.29 per share in its fourth quarter of 2020. This compares with adjusted earnings of $2.01 per share in the prior-year quarter. Sales dropped 43% to $8.9 billion in the final quarter of fiscal 2020. While the loss per share was a penny better than the market’s estimates, revenue failed to meet the consensus targets.
SYY stock dropped about 2% in the pre-market trading session.
“While our fourth quarter and fiscal 2020 results were significantly impacted by the COVID-19 pandemic, we quickly responded by strengthening our balance sheet, adding new and different types of customers, and strategically committing resources to plan for the eventual return of demand. Our quarterly results came in notably better than we anticipated,” said CEO Kevin Hourican.
Most Popular
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on
Target (TGT): A look at some of the challenges faced by the retailer in 3Q24
Shares of Target Corporation (NYSE: TGT) stayed green on Thursday, recovering from the stumble it took a day ago after delivering disappointing results for the third quarter of 2024 and
