Welcome to our dedicated page for Sysco news (Ticker: SYY), a resource for investors and traders seeking the latest updates and insights on Sysco stock.
Sysco Corporation reports news as a global foodservice distributor that sells, markets and distributes food and related products to customers that prepare meals away from home. Its updates center on restaurants, healthcare and educational facilities, lodging establishments, entertainment venues and other food-away-from-home markets, with product categories that include fresh produce, premium proteins, specialty products, sustainably focused items, equipment and supplies, and culinary solutions.
Recurring company developments include operating and financial results, dividend declarations, capital-allocation actions, material agreements, governance matters and customer-facing culinary programs such as regional chef competitions. News also reflects Sysco’s supply-chain role and specialty offerings for foodservice operators across its domestic and international distribution network.
Sysco (NYSE: SYY) will host an investor day at the New York Stock Exchange on May 22, 2024. Top executives will present, and a live webcast will be available. Sysco is a global leader in food product distribution, operating 334 facilities worldwide with over 72,000 employees. The company generated sales of over $76 billion in fiscal year 2023.
Sysco (NYSE: SYY) announced the appointment of Kevin Hourican as the new Chair of the Board and Chief Executive Officer, following Edward D. Shirley stepping down due to health reasons. The company highlighted Hourican's leadership and vision in navigating challenges, with Larry Glasscock appointed as Lead Independent Director.
Sysco reported positive financial results for its third fiscal quarter ending March 30, 2024. Sales increased by 2.7%, U.S. Foodservice volume grew by 2.9%, and gross profit rose by 5.2%. Operating income increased by 3.8% to $722.0 million, with adjusted operating income up by 8.4% to $799.3 million. EBITDA and adjusted EBITDA increased by 5.4% and 8.5% respectively. EPS increased by 1.2% to $0.85, and adjusted EPS grew by 6.7% to $0.96. Sysco plans to return approximately $2.25 billion to shareholders in fiscal year 2024.
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