Brakes acquisition boosts Sysco earnings

syscoimageHouston, Texas, US: Sysco Corporation’s first-quarter fiscal 2017 earnings exceeded expectations while revenues were in line with the same.

The acquisition of London-based Brakes Group, completed in July, and margin improvement drove the earnings beat.

Adjusted earnings (excluding restructuring and merger-related costs) of 67 cents per share surpassed the Zacks Consensus Estimate of 59 cents by 13.6% and were up 28.8% year over year.

Growth in sales, expense management, and improved gross and operating margin led to the upside. Excluding the Brakes acquisition, earnings increased 21.2% to 63 cents per share.

“I am pleased with our first quarter performance which built upon the favorable results we have achieved over the past several quarters,” said Bill DeLaney, chief executive, in an earnings release.

WORLD NEWS

OSHA names GCCA Alliance Program Ambassador

Arlington, Virginia, USA: The US Department of Labor’s Occupational Safety and Health Administration (OSHA) has recognised the Global Cold Chain Alliance as an Alliance Program …

READ THE FULL STORY >

Definitive textbook on natural refrigerants available in English

Brussels, Belgium: Shecco, a natural refrigerent marketing company, has partnered with German publisher VDE Verlag to translate its popular 2019 German textbook on natural refrigerants …

READ THE FULL STORY >

Carrier’s TripLink gets smarter for reefers

Singapore: Carrier Transicold has added features to TripLink, its refrigerated container data management system. The system can better be adapted to suit specific customer requirements. …

READ THE FULL STORY >

XPO second quarter revenue hit by coronavirus

Greenwich, Connecticut, USA: XPO Logistics’ revenue for the second quarter of 2020 was down from $4.24bn to $3.5bn. Bradley Jacobs, chairman, XPO Logistics, said, “The …

READ THE FULL STORY >

WHAT’S ON

Latest Tweets

Cold Chain News is going digital from September. The new digital format will bring you a digest of UK news plus features about the British temperature-controlled logistics industry. Find out more: bit.ly/3eUAHtS

© 2020 Global Cold Chain News | Terms of use | Privacy Policy
Commercial Transport Publishing Limited, registered in England and Wales, Company No: 6453302. Registered Office: 6 Corunna Court, Corunna Road, Warwick CV34 5HQ