Sysco Withdraws Three-year Plan Guidance - Quick Facts

(RTTNews) - Sysco Corp. (SYY) said the company has decided to withdraw its fiscal 2018-fiscal 2020 three-year plan guidance due to COVID-19 pandemic. The company said it is taking aggressive action to strengthen liquidity by reducing variable expenses in response to reduced customer demand.

The company has cash on hand of approximately $2 billion as of March 20, 2020, including a recent $1.5 billion withdrawal under its revolving credit facility. Sysco noted that it has no debt maturities for the next six months. The company is working with banking partners to explore opportunities to raise additional funds.