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...

 

PERFORMANCE FOOD GROUP HOLDS STRONG ...

 

more, including links?

https://foodinstitute.com/focus/foodservice-distributors-impacted-covid/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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