Sysco Corp. (SYY) Tops Q4 EPS by 1c, Revenue Misses
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Sysco Reports Fourth Quarter and Full Year 2020 Results
August 11, 2020 8:01 AM EDTTHE COMPANY IS MAKING SUBSTANTIAL PROGRESS ON A BOLD TRANSFORMATION THAT WILLÂ ENABLE THE COMPANY TO IMPROVE HOW IT SERVES CUSTOMERS, DIFFERENTIATE FROM COMPETITORS, AND TRANSFORM THE INDUSTRY
HOUSTON, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY) today announced financial results for its 13-week fourth fiscal quarter and its fiscal year ended June 27, 2020.
Fourth Quarter Fiscal 2020 Highlights
Sales decreased 42.7% to $8.9 billionGross profit decreased 47.4% to $1.6 billion; gross margin decreased 159 basis pointsOperating income (loss) decreased 173.8% to $(531.6) million; adjusted¹ operating income (loss) decreased 104.1% to $(33.9) millionEarnings (loss)... More