Categories AlphaGraphs, Consumer, Earnings

Sysco (SYY) swings to a loss in Q4 2020; sales slump 43%

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.

Sysco (SYY) Q4 2020 Earnings Infograph

“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

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results

Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a

AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates

Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top