Sysco Corporation announced its financial results for the first fiscal quarter ended September 28, 2024, reporting sales of $20.5 billion, an increase of 4.4% compared to the prior year. U.S. Foodservice volume grew by 2.7% during the quarter.
Gross profit for the quarter increased by 2.9% to $3.8 billion, while operating income rose by 0.5% to $808 million. The company reported net income of $490 million, or $0.99 per diluted share, with adjusted diluted EPS at $1.09, slightly below the consensus estimate of $1.13.
Despite the adjusted EPS miss, Sysco reaffirmed its full-year fiscal 2025 guidance, projecting sales growth of 4%-5% and adjusted EPS growth of 6%-7%. The company also stated it remains on track to return approximately $2 billion to shareholders in fiscal year 2025 through share repurchases and dividends.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.