Categories AlphaGraphs, Consumer, Earnings

Earnings: Sysco (SYY) Q4 profit jumps; revenue tops expectations

Food distribution company Sysco Corporation (NYSE: SYY) reported higher earnings and revenues for the fourth quarter of 2022. The top line also exceeded Wall Street’s estimates.

Sysco Q4 2022 earnings infographic

Net earnings, adjusted for non-recurring items, rose sharply to $1.15 per share in the June quarter from $0.71 per share in the prior-year period. Unadjusted net income climbed to $510 million or $0.99 per share from $151.1 million or $0.29 per share last year.

The impressive outcome reflects a 17% growth in net sales to $18.9 billion. Analysts were looking for slower growth. The top-line benefitted from strong consumer and customer away-from-home demand.


Check this space to read management/analysts’ comments on Sysco’s Q4 2022 earnings


“Sysco generated another quarter of top-line and bottom-line improvements, topping off a strong year of financial performance, especially given the environmental conditions. This included growing more than 1.3 times the market for the year and exceeding fiscal 2019 operating income for the quarter by 6.4 percent. The strong financial performance was delivered while simultaneously investing in our Recipe For Growth strategy,” said Sysco’s CEO Kevin Hourican.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results

Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a

AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates

Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top