Sysco Corp. (SYY) Tops Q3 EPS by 2c
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Sysco Reports Third Quarter Fiscal 2021 Results
May 4, 2021 8:00 AM EDTHOUSTON, May 04, 2021 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY) today announced financial results for its 13-week third fiscal quarter ended March 27, 2021.
Sales trends improving as markets reopen; Q3 decreased 13.7% versus FY20 and decreased 19.3% versus FY19; April increased 102.1% versus 2020 and decreased 8.8% versus 2019;We are now serving more independent customers compared to pre-COVID;Gross profit decreased 17.2% to $2.1 billion; industry-leading gross margin decreased 77 basis points on mix among businesses;Operating income increased 291.4% to $235.9 million; adjusted1 operating income decreased 32.0% to $256.2... More