Sysco Corporation (NYSE: SYY) reported a 19% jump in earnings for the fourth quarter driven by lower interest expense as well as higher other income. The bottom line exceeded analysts’ expectations while the top line missed consensus estimates due to a drop in sales from International Foodservice operations.
Net income climbed by 19% to $535.8 million or $1.03 per share. During the quarter, the company managed expenses well and delivered solid operating income growth. Adjusted earnings increased by 17% to $1.10 per share.
Net sales rose by 1% to $15.47 billion. The top-line growth was benefited from higher total case volume within US Broadline operations despite a decrease in sales from International Foodservice Operations.
Looking ahead, the company continues the progress of its transformative initiatives, which are believed to lift the ease for customers doing business with Sysco. This position Sysco well for the long-term growth and create shareholders value in fiscal 2020 and beyond.
For the fourth quarter, sales from US Foodservice Operations increased by 2.8%. However, sales from International Foodservice Operations declined 0.8% as foreign exchange negatively impacted sales by 0.8%. Sales from Sygma dropped 7.7% while other sales increased by 7.8%.
Local case volume within US Broadline operations increased 1.4%, of which 1.3% was organic, while total case volume within US Broadline operations rose 0.4%, of which 0.3% was organic.
Also read: Kraft Heinz Q2 earnings review
Cash flow from operations was $2.4 million for fiscal 2019, which was $255.8 million higher compared to the prior-year period. Free cash flow was $1.7 billion, which was $249.9 million higher compared to the prior year.
Capital expenditures, net of proceeds from sales of plant and equipment, totaled $671.5 million, which was $5.8 million higher compared to the prior-year period.
Most Popular
Earnings Preview: What to look for when Netflix (NFLX) reports Q4 2025 results
Netflix, Inc. (NASDAQ: NFLX) is expected to report Q4 results on January 20, amid expectations for strong revenue and earnings growth. The company is navigating a shifting streaming landscape where
What to look for when United Airlines (UAL) reports its Q4 2025 earnings results
Shares of United Airlines (NASDAQ: UAL) stayed red on Thursday. The stock has gained 15% over the past three months. The airline is scheduled to report its earnings results for
Infographic: How Constellation Brands (STZ) performed in Q3 2026
Constellation Brands, Inc. (NYSE: STZ) reported net sales of $2.22 billion for the third quarter of 2026, down 10% year-over-year. Organic net sales were down 2%. Net income attributable to
Comments
Comments are closed.