Sysco Corporation (SYY) was up +2.04% on Tuesday to close the session at $73.03. The U.S. foodservice provider posted an 82 percent decrease in earnings in the quarter. For the second fiscal year, net income was $67 million, or 13 cents a share, compared to $383 million and 74 cents a year ago, respectively. Adjusted earnings per share are 17 cents, relative to the previous year’s 68 cents and the FactSet estimate of 34 cents. Compared to $15 billion a year ago and a forecast of $12.2 billion, sales were around $11.6 billion. The company, however, is hoping for a market turnaround and claims it is well placed.
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McKesson Corporation (MCK) was stable at +0.46% to $180.55. The U.S. health care company and prescription retailer (up 0.46 percent), posted a net loss of more than $6 billion for the fiscal third quarter with one-time payments of $8.1 billion after the opioid lawsuits, but adjusted quarterly results met analyst forecasts. The consensus is also beaten by sales. McKesson reported overall sales of $62.6 billion over the end period, up 6 percent. Diluted adjusted earnings per share are $4.60, up 21%. The company is strengthening its annual adjusted EPS outlook to $16.95 to $17.25 a year.
Harley-Davidson, Inc. (HOG) was down -17.16% to $33.26. An unforeseen fourth-quarter net loss of $96 million, or 63 cents per share, compared to net income of $13 million and 9 cents per share a year earlier, was posted by the Milwaukee-based motorcycle manufacturer. Except for products, the loss per share amounted to 44 cents, relative to a strong EPS of 20 cents a year ago and the FactSet consensus of 21 cents. This weakness is clarified by the challenges of the motorcycle industry, while the performance of financial services is good at the same time. Quarterly sales plummeted 32 percent to $725 million, relative to a $723 million FactSet estimate.
