HOUSTON, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) will host a conference call and webcast to discuss its second quarter fiscal year 2025 financial results at 10 a.m. EDT on Tuesday, Jan. 28, 2025. All interested parties are invited to listen online at investors.sysco.com. Prior to the conference call and webcast, the company will also issue a news release and post a slide presentation in the investor relations section of its website. A replay of the webcast will be available online sho ...

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SYY either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or s ...

Core Insights - Sysco Corporation has announced a partnership with Square to enhance restaurant operations through technology, offering benefits such as processing fee rebates and hardware credits for customers enrolling through Sysco [1][3]. Group 1: Partnership Details - The partnership aims to support restaurants of all sizes by providing access to Square's technology suite, which includes tools for online ordering, website design, and digital marketing [2][3]. - Customers enrolling through Sysco will receive compelling processing fee rebates, hardware discounts, and custom pricing as part of the partnership [3][4]. Group 2: Company Overview - Sysco is the largest food distributor globally, serving approximately 730,000 customer locations and generating over $78 billion in sales for fiscal year 2024 [5]. - The company operates 340 distribution facilities worldwide and employs more than 76,000 colleagues [5].

It has been about a month since the last earnings report for Sysco (SYY) . Shares have added about 3.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Sysco due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Sysco Q1 Earnings Lag Estimates, Sales Fueled by Internati ...

NEW YORK, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the world’s largest food distributor, presented a check for $10,000 to City Harvest, New York’s first and largest food rescue organization, to support the community where Sysco operates. Sysco’s donation is part of the company’s signature Nourishing Neighbors® program where a portion of the proceeds from each Sysco branded case sold in local communities is donated back to charitable organizations in those communities. This is a ...

LAS VEGAS, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the world’s largest food distributor, presented a check for $10,000 to Three Square Food Bank to support the local community where Sysco operates. Sysco’s donation is part of the company’s signature Nourishing Neighbors® program where a portion of the proceeds from each Sysco branded case sold in local communities is donated back to charitable organizations in those communities. Sysco Las Vegas also donated 2,500 turkeys to be ...

HOUSTON, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the world’s largest food distributor, presented a check for $10,000 to the Houston Food Bank to support the local community where Sysco operates and is headquartered. This is an important time of year for food banks and pantries as they gear up to feed those in need this holiday season. Sysco Houston also donated 2,500 turkeys to the Houston Food Bank which will be distributed to its partner networks across the city. As part of ...

CHICAGO, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the world’s largest food distributor, presented a check for $10,000 to the Northern Illinois Food Bank to support the local community where Sysco operates. Sysco’s donation is part of the company’s signature Nourishing Neighbors® program where a portion of the proceeds from each Sysco branded case sold in local communities is donated back to charitable organizations in those communities. Sysco Chicago also donated 2,500 turkeys ...

Financial Performance - Net earnings for the 13-week period ended September 28, 2024, were $490 million, a decrease from $503 million in the same period last year[57]. - Total sales for Sysco in the 13-week period ended September 28, 2024, were $20,484 million, an increase from $19,620 million in the same period of the previous year, representing a growth of approximately 4.4%[80]. - Operating income for Sysco's U.S. Foodservice Operations was $908 million, a decrease from $941 million year-over-year, reflecting a decline of about 3.5%[81]. - The International Foodservice Operations segment reported operating income of $101 million, up from $93 million, indicating a growth of approximately 8.6%[81]. - Sysco's total operating income for the period was $808 million, slightly up from $804 million in the previous year[81]. Earnings Per Share - Basic and diluted earnings per share remained stable at $1.00 and $0.99, respectively, for the first quarter of fiscal 2025[57]. - The number of securities excluded from the diluted earnings per share calculation was approximately 3,338,000 for the first quarter of fiscal 2025[57]. Comprehensive Income - Comprehensive income increased to $663 million for the first quarter of fiscal 2025, compared to $429 million for the same period in fiscal 2024[58]. Share-Based Compensation - The total share-based compensation cost recognized was $30 million for the first 13 weeks of fiscal 2025, up from $24 million in the prior year[70]. - The weighted average grant-date fair value per option granted was $18.50, with 728,531 options granted in the first 13 weeks of fiscal 2025[66]. - The company granted 461,055 performance share units (PSUs) with a weighted average grant-date fair value of $82.63 during the same period[67]. - The total number of unrecognized compensation costs related to share-based compensation arrangements was $179 million, expected to be recognized over 2.10 years[70]. Taxation - The effective tax rate for the first quarter of fiscal 2025 was 23.7%, higher than the statutory rate of 21.0% due to state income taxes[71]. - For the first quarter of fiscal 2024, the effective tax rate was 24.0%, higher than the statutory tax rate due to state income taxes, partially offset by a foreign income tax benefit[72]. - Sysco recorded a benefit of $131 million related to foreign tax credits, which may need to be reversed if the company is unsuccessful in its ongoing tax litigation[73]. - The OECD's Pillar Two Model Rules, effective for Sysco at the beginning of fiscal 2025, mandate a minimum corporate income tax rate of 15%[74]. Legal Proceedings - The company is engaged in various legal proceedings, with potential losses ranging from remote to reasonably possible, but management does not expect a material adverse effect on financial results[76]. Market Risks - Sysco's market risks include interest rate risk, foreign currency exchange rate risk, fuel price risk, and investment risk, with no significant changes reported since June 29, 2024[82]. Interest Expense - Interest expense increased to $160 million from $134 million, representing a rise of about 19.4%[81].

Sysco Corporation (SYY) delivered first-quarter fiscal 2025 results, wherein the top and bottom lines grew year over year. Earnings missed the Zacks Consensus Estimate, while sales surpassed the same. Sysco’s adjusted earnings of $1.09 per share missed the Zacks Consensus Estimate of $1.13. Nevertheless, the bottom line rose 1.9% year over year.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The global food product maker and distributor reported sales of $20,484 million, which jumped ...