SYSCO CORPORATION Reports Fourth Quarter Results for FY2023 Ending June 30, 2023
August 25, 2023
🌥️Earnings Overview
On August 1 2023, SYSCO CORPORATION ($NYSE:SYY) reported their financial results for the fourth quarter of FY2023, ending on June 30 2023, with total revenue of USD 19728.2 million, representing an increase of 4.1% compared to the same quarter from the previous year. Net income was also up significantly by 43.9%, totaling USD 733.7 million for the quarter.
Market Price
The stock opened at $76.9 but closed at $76.2, representing a slight decline of 0.2% from its prior closing price of $76.3. Despite this decrease, the overall performance of SYSCO CORPORATION was strong in this quarter.
In addition, SYSCO CORPORATION reported a strong balance sheet, with total assets increasing by 4% compared to the same period in the prior fiscal year. The company’s total liabilities decreased by 3%, indicating improved financial health and stability. Overall, SYSCO CORPORATION performed well in the fourth quarter of FY2023, with improved sales and revenues, increased profitability, and a strong balance sheet. This performance bodes well for the company’s future prospects and shareholders should be pleased with its results. 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
We at GoodWhale recently conducted an analysis of SYSCO CORPORATION‘s financials. Based on our Risk Rating, we have determined that SYSCO CORPORATION is a low risk investment in terms of financial and business aspects. However, we did detect one risk warning in non-financial aspects. If you’re interested in learning more about it, make sure to register with us so that you can check it out. 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
SYSCO CORPORATION recently reported strong financial results for the fourth quarter of FY2023, with total revenue up by 4.1% and net income increasing by 43.9%. This is an encouraging sign for any investors considering putting their money into the company, suggesting that their investments are likely to be worthwhile. This positive report could be an indication that SYSCO CORPORATION is in a good position to continue to grow in the coming quarters. Analysts will be taking a close look at the company’s spending and performance, and will be watching closely to see if this trend of improved profitability continues.
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