SYSCO REPORTS THIRD QUARTER OPERATING INCOME AND EPS GROWTH HOUSTON, April 30, 2024 - Sysco Corporation (NYSE: SYY) ("Sysco" or the "company") today announced financial results for its 13-week third fiscal quarter ended March 30, 2024. Key financial results for the third quarter of fiscal year 2024 include the following (comparisons are to the same period in fiscal year 2023): "Our third quarter performance demonstrated disciplined efforts to deliver strong profit growth, despite a softer macro backdrop. I ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-6544 ________________ Registrant's telephone number, including area code: (281) 584-1390 Securities registered pursuant to Section 12(b) of the ...

Financial Data and Key Metrics Changes - Sysco reported a sales growth of 3.7% for Q2 2024, showing a sequential improvement from Q1, driven by positive case volume growth and product cost inflation [12][41] - Adjusted EPS grew over 11%, marking the 11th consecutive quarter of double-digit adjusted EPS growth [20][39] - The company increased its stock buyback target for FY 2024 from $750 million to $1.25 billion, expecting total shareholder returns to reach approximately $2.25 billion [11][39] Business Line Data and Key Metrics Changes - The US foodservice segment grew by 3.2%, while the international segment saw a growth of 9.6% [41] - SYGMA experienced a decrease of 1% due to the planned exit of unprofitable customers, but profits more than doubled due to improved supply chain productivity [41] - Local case volume growth was reported at 2.9%, reflecting a 300 basis point sequential improvement from Q1 [42][25] Market Data and Key Metrics Changes - Enterprise inflation was recorded at 1.1%, with US broadline inflation being slightly positive and international inflation at 6.6% [42] - Total US foodservice volume increased by 3.4%, with local volume up 2.9% [42] Company Strategy and Development Direction - Sysco is focused on its "Recipe for Growth" strategy, which includes improving sales execution and enhancing supply chain productivity [31][34] - The company aims to leverage its scale advantages in foodservice distribution to profitably grow its business [33] - Sysco is committed to maintaining a strong balance sheet while increasing capital allocation to shareholders [19][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth momentum, despite a slight slowdown observed in January due to seasonal factors and weather conditions [10][67] - The company reiterated its guidance for FY 2024, expecting mid-single-digit net sales growth and adjusted EPS growth of 7% at the midpoint [51][75] Other Important Information - Sysco's strong balance sheet and free cash flow generation allow for continued investment in growth and shareholder returns [40][49] - The company is on track to achieve $100 million in cost-out commitments for FY 2024 [44][73] Q&A Session Summary Question: Confidence in sustaining local case volume growth - Management is confident in continuing to improve local sales, citing performance management and compensation changes as key drivers [60][61] Question: Surprises in the first half of FY 2024 - Management noted that Sysco has proven its ability to manage under various environments, with Q1 being slightly deflationary and Q2 slightly positive [70][71] Question: Sales force additions and hiring challenges - Management reported no challenges in hiring, with a significant number of new sales consultants being trained [79][80] Question: Integration of Edward Don and future M&A strategy - Early integration of Edward Don is progressing well, with significant synergy opportunities identified [84][86] Question: Visit frequency and quality as KPIs - Management emphasized the importance of visit frequency and quality in driving sales growth, with specific targets being tracked [91][92] Question: Implications of local customer growth on gross margin - Local customers contribute higher GP dollars per case, positively impacting gross margin performance [134]

Sysco Fiscal Q2 2024 Earnings Results Statements made in this presentation that look forward in time or that express management's beliefs, expectations or hopes are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risks, uncertainties, estimates, and assumptions that may cause actual results to differ materially from current expectations. T ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-6544 ________________ Sysco Corporation (Exact name of registrant as specified in its charter) Delaware 74-1648137 (State or other jurisdictio ...

Sysco Fiscal Q1 2024 Earnings Results Statements made in this presentation that look forward in time or that express management's beliefs, expectations or hopes are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risks, uncertainties, estimates, and assumptions that may cause actual results to differ materially from current expectations. T ...

Start Time: 10:00 January 1, 0000 11:06 AM ET Sysco Corporation (NYSE:SYY) Q1 2024 Earnings Conference Call October 31, 2023, 10:00 AM ET Company Participants Kevin Hourican - President and CEO Kenny Cheung - CFO Kevin Kim - VP of IR Conference Call Participants Edward Kelly - Wells Fargo Lauren Silberman - Deutsche Bank Joshua Long - Stephens Inc. Jeffrey Bernstein - Barclays Kelly Bania - BMO Capital Markets John Heinbockel - Guggenheim Securities Kendall Toscano - Bank of America Operator Welcome to Sysc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ 1390 Enclave Parkway Houston, Texas (Address of principal executive offices) FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended July 1, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-6544 ________________ Sysco Corporation (Exact name of registrant as specified in its chart ...

food and service Sysco Q4 and FY23 Earnings Results August 1, 2023 Forward-Looking Statements Statements made in this press release or in our earnings call for the fourth quarter of fiscal year 2023 that look forward in time or that express management's beliefs, expectations or hopes are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risk ...

Sysco Corporation (NYSE:SYY) Q4 2023 Earnings Conference Call August 1, 2023 10:00 AM ET Company Participants Kevin Kim - VP of IR Kevin Hourican - President and CEO Kenny Cheung - CFO Neil Russell - Chief Administrative Officer Conference Call Participants Edward Kelly - Wells Fargo Joshua Long - Stephens Inc. John Heinbockel - Guggenheim Securities Kelly Bania - BMO Capital Markets John Ivankoe - JPMorgan Alex Slagle - Jefferies Operator Welcome to Sysco's Fourth Quarter Fiscal Year 2023 Conference Call. ...