SYSCO Inc. SYY reported its fourth quarter earnings on Monday. Shares of the company are up three percent.
Below are some key highlights from its conference call:
Growth and Results:
• Sales for the fiscal year grew 5% to $47 billion and adjusted net earnings
were $1 billion.
• Cash flow from operations for the fiscal year was $1.5
billion.
• We reduced our operating expenses per case by $0.06.
• Turning to our results for the quarter, sales grew 5.9% to $12.3 billion and
net earnings were $254 million.
• Adjusted EPS was $0.50 for the quarter, which
was flat compared to the prior-year period.
• Our results reflect the impact of the slow and modest economic recovery in a
Foodservice industry that as a whole remains under pressure.
• Several of these recent deployments took place some
of our larger and more complex operating companies and many conversions
occurred during a particularly busy time of year.
• We continue to learn and
adjust with each go live and as a result each one has been progressively more
successful.
• As we continue to implement our category management initiative this year we
also focused on enhancing our execution of this effort in several important
ways
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in