Categories AlphaGraphs, Consumer, Earnings
SYY Infographic: Sysco Q1 2023 earnings increase on strong sales growth
Sysco Corporation (NYSE: SYY) reported higher earnings and revenues for the first quarter of 2023 as the company continued to expand its market share and maintained strong volume growth.
Net earnings of the food distribution company, adjusted for non-recurring items, rose sharply to $0.97 per share in the September quarter from $0.83 per share in the prior-year period. Unadjusted net income climbed to $465.6 million or $0.91 per share from $378.0 million or $0.73 per share last year.
The bottom line benefited from a 16% growth in net sales to $19.1 billion. The strong top performance reflects stable consumer demand and customer away-from-home demand.
Read management/analysts’ comments on quarterly earnings
“Sysco began the fiscal year generating double-digit top-line and bottom-line growth, as we effectively managed inflation, increased case volume, and grew market share. We remain on target to grow over 1.35 times the market for the year, as we continue to advance our Recipe For Growth strategy. Our enhanced customer-centric supply chain and selling capabilities will drive long-term returns for our investors,” 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
Earnings Preview: Deere & Company expected to end FY24 on a mixed note
For Deere & Company (NYSE: DE), 2024 has been a challenging year marked by weak demand amid declining farm income and high interest rates. As the company prepares to report
Here’s how streaming is set to become a key part of Disney’s (DIS) growth strategy
Shares of The Walt Disney Company (NYSE: DIS) rose over 4% on Friday. The stock has gained 27% over the past three months. The company ended fiscal year 2024 on
Alibaba Group (BABA) Q2 2025 Earnings: Key financials and quarterly highlights
Alibaba Group Holding Limited (NYSE: BABA) reported its second quarter 2025 earnings results today. Revenue was $33.7 billion, up 5% year-over-year. Net income attributable to ordinary shareholders grew 58% to