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 (NYSE: SYY) is a global leader in foodservice distribution, connecting suppliers with over 650,000 customer locations across restaurants, healthcare facilities, and educational institutions. This dedicated news hub provides investors and industry professionals with comprehensive access to official corporate announcements and market-relevant developments.
Track key business initiatives through curated press releases spanning earnings reports, supply chain innovations, sustainability efforts, and strategic partnerships. Our repository ensures timely access to operational updates, leadership changes, and product expansion announcements that shape Sysco's position in the $300B+ foodservice distribution industry.
Discover categorized updates including quarterly financial results, acquisition activity, technology implementations, and industry partnership developments. All content is sourced directly from Sysco's corporate communications to maintain accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined monitoring of Sysco's operational milestones and market leadership in food logistics. Combine strategic insights with fundamental data through our integrated financial tools for complete investment analysis.
For the third fiscal quarter ending April 2, 2022, Sysco Corporation (SYY) reported a significant 42.9% increase in sales, totaling $16.9 billion, driven by robust demand and market share gains. Gross profit rose by 42.0% to $3.0 billion, and operating income surged 110.1% to $495.7 million. Despite inflationary pressures, adjusted EPS increased to $0.71 from $0.22 year-over-year. Sysco raised its adjusted EPS guidance for fiscal 2022 to between $3.16 and $3.26, reflecting strong performance and ongoing investment in growth initiatives.
Sysco Corporation (NYSE:SYY) announced a 2 cent increase in its quarterly cash dividend to $0.49 per share from $0.47. This new dividend is set to be paid on July 22, 2022, to stockholders of record as of July 1, 2022. The CFO, Aaron Alt, emphasized that this decision reflects the company's commitment to shareholder returns and confidence in its Recipe for Growth strategy, translating to an additional $0.08 per share on an annual basis for fiscal 2023.
Sysco Corporation (NYSE:SYY) celebrates Tom Peck, its executive vice president and chief information officer, who won the 2022 Houston CIO of the Year ORBIE Award in the Super Global category. This accolade recognizes technology leaders who drive innovation and manage technology effectively. CEO Kevin Hourican praised Peck for his contributions towards Sysco's customer-facing technology solutions, aligning with the company's Recipe for Growth strategy. Peck also champions Diversity, Equity, and Inclusion initiatives, contributing positively to veteran career development.
Sysco Corporation (NYSE:SYY) will host a conference call and webcast on May 10, 2022, at 10 a.m. EDT to discuss its third quarter fiscal year 2022 financial results. Interested parties can listen online via the company's investor relations website. Sysco, the global leader in food distribution, operates 343 distribution facilities and serves over 650,000 customer locations, generating over $51 billion in sales for fiscal 2021. The company emphasizes transparency in its public disclosures through its investor relations platform.
Sysco Corporation (NYSE:SYY) announced a quarterly cash dividend of $0.47 per share, set to be paid on April 22, 2022, to stockholders recorded by April 1, 2022. Sysco is a leading distributor of food products and services, generating over $51 billion in sales during fiscal 2021 and operating 343 distribution facilities globally. The company serves more than 650,000 customer locations.
Sysco Corporation (NYSE:SYY) announced a live webcast of its presentation at the UBS Global Consumer and Retail Conference on March 9, 2022, at 9:00 a.m. EST. Investors can access the webcast at investors.sysco.com. An archived replay will be available post-event. Sysco's investor relations section serves as the primary channel for public disclosures, providing key information about the company.
Sysco Corporation (SYY) has joined the U.S. Food Loss and Waste 2030 Champions initiative, aiming to reduce food waste by 50% by 2030. The company plans to divert 90% of its food waste from landfills by 2025 through meal donations and composting. Sysco's Senior Vice President emphasized the company's commitment to community support and sustainability, targeting $500 million in charitable contributions by 2025. This initiative aligns with Sysco's Corporate Social Responsibility goals, reflecting a focus on reducing environmental impact.
Sysco Corporation (NYSE: SYY) has completed the acquisition of The Coastal Companies, a prominent fresh produce distributor. This deal will enhance FreshPoint, Sysco’s specialty produce division, allowing for improved service in the Mid-Atlantic region and the addition of retail and ready-to-eat capabilities. The Coastal Companies, based in Laurel, MD, generates approximately $600 million in annual revenue through its integrated businesses: Coastal Sunbelt Produce, Lancaster Foods, and East Coast Fresh. The financial terms of the acquisition were not disclosed.
Sysco Corporation (NYSE:SYY) announced a live webcast of its presentation at the CAGNY 2022 Conference, scheduled for February 22, 2022, at 12:40 p.m. EST. The event will be accessible on Sysco’s investor relations website, with an archived replay available afterward. Sysco emphasizes the use of its investor relations page for public disclosures, ensuring investors stay informed about key information. As a global leader in food distribution, Sysco generated over $51 billion in sales for fiscal 2021, serving more than 650,000 customer locations worldwide.
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