Sysco Corporation (NYSE:SYY) Downgraded Amidst Q3 Earnings Miss and Rising Costs
Deutsche Bank Downgrade: Sysco's stock was downgraded to "Hold" from "Buy" by Deutsche Bank, reflecting a more cautious outlook on the company's financial performance and rising operational costs. Q3 Financial Miss: Sysco reported adjusted earnings of $0.94 per share and sales of $20.50 billion, both falling short of analyst expectations, with a notable 8.4% increase in adjusted operating expenses. Resilient Profitability: Despite challenges, Sysco demonstrated growth in gross profit by 6.5% to $3.80 billi ...