10 August 2024
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Global Industry

Sysco: Reports Q4-2024 Financial Results

Houston / TX. (syy) Sysco Corporation, a leading global foodservice distribution company, announced financial results for its 13-week fourth fiscal quarter and its fiscal year ended June 29, 2024. Key financial results for Q4-2024 include the following (comparisons are to the same period in fiscal year 2023):

  • Sales increased 4.2 percent; U.S. Foodservice volume increased 3.5 percent; U.S. local volumes grew 0.7 percent;
  • Gross profit increased 4.2 percent to USD 3.8 billion;
  • Operating income increased 1.2 percent to USD 977 million, and adjusted operating income increased 6.4 percent to USD 1.1 billion;
  • Ebitda decreased 7.7 percent to USD 1.2 billion, and adjusted Ebitda increased 5.4 percent to USD 1.3 billion; and
  • EPS decreased 14.6 percent to USD 1.23, compared to USD 1.44 in the same period last year, and adjusted EPS increased 3.7 percent to USD 1.39.

«Sysco’s financial performance for the quarter and year included market share gains, strong profit growth, investments in the business, and robust annual cash flow. Our balanced efforts to grow top-line and manage margins enabled us to deliver solid bottom-line results. In addition, we rewarded our shareholders with share repurchases and dividends. I am proud of our team for a steadfast focus on core business drivers, and advancing our strategic initiatives. We remain on track with a specific set of actions that we are confident will positively increase local case performance in the upcoming fiscal year. I am particularly pleased with our International business, which delivered a 19.4 percent increase in operating income and 23.6 percent increase in adjusted operating income for the year. I want to thank all Sysco colleagues for their strong customer focus and hard work in fiscal 2024. We are the leader in the Food Away From Home distribution business because of you, our talented team,» said Kevin Hourican, Chair of the Board and Chief Executive Officer. For additional information please read the company’s PDF file below (198 KB):

20240730-SYSCO-Q42024.


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