Foodservice Distributors Heavily Impacted by Covid-19


By Palash Ghosh, The Food Institute

Feb 11, 2021


Sysco Corp.抯 fiscal second-quarter results came in below analysts?estimates on pandemic-related constraints, with the Houston-based food distributor posting adjusted earnings of $0.17 per share, well under the Zacks consensus estimate of $0.35 per share and the $0.85 per share the company recorded a year ago.


The company generated revenue of $11.56 billion, compared to $15.03 billion last year.


In an earnings call with analysts, Sysco CEO Kevin Hourican said that COVID-19 has imposed 搒ubstantial restrictions upon the customers we serve in the food-away-from-home sector and has disrupted our marketplace,?noting that the month of December was especially tough due to a decline in restaurant traffic and sales as a result of renewed lockdown measures.


Aaron E. Alt, the company抯 chief financial officer, added that the impact of the coronavirus on company operations varied by region...




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