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

K Group tests Thermo King E-200 for Finnish grocery delivery

Helsinki, Finland: K Group has tested Thermo King’s electric E-200 fridge on an electric-powered MAN eTGE van on food delivery in Finland.  K Group is …

READ THE FULL STORY >

Krone Cool Liner celebrates 25 years

Werlte, Germany: Krone launched its first refrigerated trailer in 1996 and to mark the 25th anniversary a special Edition of the trailer is being launched. …

READ THE FULL STORY >

Bolloré Logistics to open new pharma unit

Roissy, France: Bolloré Logistics is to handle healthcare products at its Roissy hub with an 800m2 extension of a pharmaceutical unit. This will give Bolloré …

READ THE FULL STORY >

New coldstore for Brussels Airport

Brussels, Belgium: Brussels Airport has opened refrigerated storage for Kuehne+Nagel, Worldwide Flight Services and Expeditors. Kuehne+Nagel is expanding its activities at Brussels Airport for handling …

READ THE FULL STORY >

WHAT’S ON

Latest Tweets

Hultsteins appoints Longhurst Refrigeration as its UK aftersales service partner: bit.ly/3x65xK8 pic.twitter.com/pm8lz8b0iD

© 2021 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