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 Corporation (NYSE: SYY) announced the appointment of Kenny Cheung as Chief Financial Officer (CFO), effective April 17, 2023. Cheung brings nearly 20 years of financial expertise, having previously served as CFO at The Hertz Corporation. Neil Russell, previously Interim CFO, has been named Chief Administrative Officer (CAO), tasked with driving Sysco's strategic initiatives and overseeing investor relations. Sysco's leadership emphasizes collaborative performance to enhance shareholders' value as they continue to implement their Recipe for Growth strategy. The company recorded sales of over $68 billion in fiscal year 2022.
On February 22, 2023, Sysco Corporation (NYSE:SYY) announced a regular quarterly cash dividend of $0.49 per share. This dividend is payable on April 28, 2023, with the record date set for April 6, 2023. As the global leader in food product distribution, Sysco serves approximately 700,000 customer locations and operates 333 distribution facilities worldwide. The company generated over $68 billion in sales for fiscal year 2022, reflecting its robust market presence and operational scale.
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Sysco Corporation (NYSE:SYY) will webcast its presentation at the CAGNY 2023 Conference on February 21, 2023, at 2:00 p.m. EST. Investors can access the live webcast at investors.sysco.com, with an archived replay available shortly after the event ends. The company emphasizes its investor relations section for public disclosure of key information, including financial updates. Sysco is a leader in food product distribution, generating over $68 billion in sales for fiscal year 2022. They operate 333 distribution facilities globally and serve approximately 700,000 customer locations.
Sysco Corporation (SYY) announced its financial results for the second fiscal quarter ending December 31, 2022, reporting a 13.9% increase in sales to $18.6 billion. Gross profit rose by 15.9% to $3.3 billion, with operating income up 44.0% to $640.6 million. However, EPS decreased by 15.2% to $0.28 due to a non-cash pension liability transfer charge of $315.4 million. Adjusted EPS improved by 40.4% to $0.80. The company reported strong U.S. foodservice volume growth of 5.2% and plans to capitalize on its Recipe For Growth strategy to drive continued profitability.
Sysco Corporation (NYSE:SYY) will host a conference call on January 31, 2023, at 10 a.m. EDT to discuss its second quarter fiscal year 2023 financial results. Interested parties can access the call through the investors.sysco.com website. Prior to the call, a news release and presentation will be made available online. Sysco is a global leader in food products distribution, operating over 333 distribution facilities with approximately 700,000 customer locations and generating more than $68 billion in sales for fiscal year 2022.
Guest Supply has partnered with Innvision Hospitality for a 10-year collaboration to enhance FF&E project services across their US customer network. This strategic partnership aims to provide customers with comprehensive services, including interior design, procurement, and project management. Kevin Korab from Guest Supply emphasized that Innvision's reputation for speed and quality aligns perfectly with their goals. Together, they plan to deliver personalized solutions to meet customer project needs more effectively.
Sysco Corporation (NYSE: SYY) announces the resignation of Aaron Alt as CFO, effective January 6, 2023. Neil Russell, currently Senior VP of Corporate Affairs, has been appointed as the Interim CFO. Both leadership changes come as the company seeks a permanent successor for the CFO role. Sysco's CEO, Kevin Hourican, highlighted Alt's contributions in strengthening the company's balance sheet and capital allocation strategies. Russell is recognized for his extensive experience in investor relations and finance, supporting Sysco's ongoing financial strategy.
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Sysco Corporation (NYSE:SYY) declared a quarterly cash dividend of $0.49 per share, payable on January 27, 2023, to shareholders of record by the close of business on January 6, 2023. This decision reflects Sysco's commitment to returning value to its investors. In fiscal year 2022, Sysco generated over $68 billion in sales and serves approximately 700,000 customers worldwide, maintaining its position as a leader in food product distribution.