SYSCO CORPORATION Reports Fourth Quarter Fiscal Year 2023 Earnings Results on August 1
August 18, 2023
🌥️Earnings Overview
On August 1, SYSCO CORPORATION ($NYSE:SYY) reported their financial results for the fourth quarter of fiscal year 2023 that ended on June 30, 2023. Total revenue for the quarter amounted to USD 19728.2 million, showing a 4.1% growth from the same quarter of the prior year. Furthermore, net income for the quarter increased by 43.9% from the previous year to USD 733.7 million.
Price History
The company’s stock opened at $76.9 and closed at $76.2, a decrease of 0.2% from the previous closing price of $76.3. The company attributed its successful performance in the quarter to its focused approach to cost containment, as well as improved efficiencies within its supply chain and logistics operations. Furthermore, SYSCO CORPORATION highlighted that its enhanced digitalization initiatives had helped to improve customer satisfaction and grow market share in several key categories.
Overall, SYSCO CORPORATION’s fourth quarter results demonstrated the success of its efforts to diversify its product offering and provide customers with greater value. With a strong outlook for the rest of the year, SYSCO CORPORATION is well-positioned to continue delivering positive results in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sysco Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 76.32k | 1.77k | 2.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sysco Corporation. More…
| Operations | Investing | Financing |
| 2.87k | -784.61 | -2.06k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sysco Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 22.82k | 20.78k | 3.98 |
Key Ratios Snapshot
Some of the financial key ratios for Sysco Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.0% | 59.5% | 3.7% |
| FCF Margin | ROE | ROA |
| 2.7% | 98.1% | 7.7% |
Analysis
At GoodWhale, we analyzed SYSCO CORPORATION‘s financials using our Star Chart. Our analysis showed that SYSCO CORPORATION is strong in asset, dividend, and medium in growth, profitability. SYSCO CORPORATION has a high health score of 8/10, which means that it is in a strong financial condition to pay off its debt and fund future operations. We also classify SYSCO CORPORATION as a ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Companies like SYSCO CORPORATION may be attractive to investors who are looking for higher potential returns but are willing to take on higher risks. More…
Peers
Sysco Corp is in competition with US Foods Holding Corp, Performance Food Group Co, Sligro Food Group NV. Sysco is the largest foodservice distributor in North America with a market share of approximately 22 percent. The company operates approximately 330 distribution facilities serving approximately 425,000 customers.
– US Foods Holding Corp ($NYSE:USFD)
With a market cap of $6.65 billion as of 2022, US Foods Holding Corp is a foodservice distribution company that offers a broad range of food and non-food products to customers in the United States. The company operates through three segments: Foodservice, Retail, and E-commerce. The Foodservice segment provides products and services to restaurants, hotels, healthcare facilities, government entities, and educational institutions. The Retail segment offers products through a network of retail grocery stores, including supermarkets, supercenters, and convenience stores. The E-commerce segment provides products and services through an online platform.
– Performance Food Group Co ($NYSE:PFGC)
In 2022, Performance Food Group Co had a market cap of 8.2B and a ROE of 6.73%. The company is a foodservice distributor that delivers food and related products to restaurants, schools, healthcare facilities, and other customers in the United States.
– Sligro Food Group NV ($LTS:0MKM)
Sligro Food Group NV is a Dutch food retailing and wholesale company. The company has a market cap of 650.19M as of 2022 and a Return on Equity of 8.07%. Sligro Food Group NV is involved in the food retailing and wholesale business. The company operates supermarkets, hypermarkets, and convenience stores in the Netherlands, Belgium, and Luxembourg.
Summary
Investors in SYSCO CORPORATION have reason to be pleased as the company reported strong fourth quarter earnings for fiscal year 2023. Total revenue for the quarter was USD 19728.2 million, a 4.1% increase year-over-year. Net income also saw a significant jump, rising 43.9% to USD 733.7 million.
This is a positive sign of the company’s stability and financial health, and suggests that SYSCO is well positioned for future growth. Investors should continue to keep an eye on SYSCO CORPORATION as it looks to build on this success.
