Sysco Cuts Outlook as Wary Americans Tighten Dining Budgets (1)

Sysco Corp. lowered its outlook as weakening consumer confidence causes Americans to dine out less.

The wholesale food distributor, which supplies ingredients and packaging equipment to restaurants and other food providers, expects adjusted earnings per share to grow as little as 1% this year, according to a statement Tuesday, down from its prior forecast of 6% to 7%. Sales will grow about 3%, down from 4% to 5% previously.

The Houston, Texas-based company’s sales and profit missed expectations in the third quarter after orders in the US fell due to wildfires, bad weather and lower consumer confidence, which dropped ...