Sysco Stock Price, News & Analysis

Sysco Corporation (NYSE: SYY) has announced a limited-time offer for fresh Summeripe® Peaches, available at all broadline sites in the U.S. for a minimum of six weeks starting from August 23, 2021. These peaches undergo an innovative all-natural ripening process to ensure optimal freshness and flavor. Additionally, Sysco is sponsoring a social media contest until October 1, encouraging creative recipes using the peaches. Participants can win prizes, including kitchen tools. With over 58,000 associates and 343 distribution facilities worldwide, Sysco generated sales exceeding $51 billion in fiscal 2021.

Sysco Corporation (NYSE: SYY) has announced that Nelson Peltz and Joshua D. Frank of Trian Fund Management are stepping down from the Board of Directors. Their decision is based on confidence in Sysco's ongoing leadership and business transformation. Peltz and Frank have served on the Board since 2015, contributing significantly to the company's strategies. Sysco's CEO, Kevin Hourican, expressed gratitude for their service and emphasized confidence in the company's future, supported by a $750 million cost reduction plan aimed at enhancing growth.

Sysco Corporation (SYY) reported strong financial results for its fourth fiscal quarter and full year ended July 3, 2021. Fourth-quarter sales surged 82% to $16.1 billion, reflecting market recovery, while gross profit rose 86.2% to $2.9 billion. Operating income soared 207.2% to $569.7 million. Despite a 3% decline in total sales for fiscal 2021, cash flow from operations increased by 17.6% to $1.9 billion, showcasing robust financial health. The company raised its EPS guidance for fiscal 2022 to $3.33 to $3.53, highlighting confidence despite ongoing inflation pressures.

Sysco Corporation (NYSE:SYY) announced that it will host a conference call and webcast on August 10, 2021, at 10 a.m. Eastern Time to discuss its fourth quarter and fiscal year 2021 financial results. Interested parties can access the call via investors.sysco.com. A news release and slide presentation will also be available before the event. With over 57,000 associates and 326 distribution facilities globally, Sysco generated sales exceeding $52 billion in fiscal 2020.

Sysco Corporation (NYSE: SYY) has partnered exclusively with SAVRpak to introduce revolutionary food preservation technology to independent and local chain restaurants across the U.S. This partnership integrates SAVRpak's patented moisture-removing "freshness packs" into Sysco's Cutting Edge Solutions platform. The innovative product ensures that takeout meals remain fresh and flavorful, akin to dine-in experiences. SAVRpak's solution is environmentally friendly, expected to receive biodegradable certification soon. This collaboration is poised to enhance restaurant customer satisfaction and operational efficiency.

Sysco Corporation (NYSE: SYY) has announced the pricing terms for its cash tender offer to purchase various debentures and senior notes totaling up to $1 billion. The offer includes securities such as 7.160% Debentures due 2027 and 6.500% Debentures due 2028 among others. The early tender payment is set at $50 per $1,000 of principal amount. The early settlement date is expected on June 7, 2021, with the final offer expiring on June 17, 2021, unless extended. The firm anticipates accepting tenders that exceed the $1 billion cap, adhering to certain conditions.

Sysco Corporation (NYSE: SYY) announced the early tender results for its cash tender offer to purchase several series of securities, increasing the maximum purchase amount from $750 million to $1 billion. The offer includes 7.160% Debentures due 2027, 6.500% Debentures due 2028, and other senior notes. As of June 3, 2021, securities valued at over $1 billion were tendered, exceeding the new total tender cap. The offer is set to expire on June 17, 2021. Holders not withdrawing their securities by the deadline may receive an early tender payment.

Sysco Corporation (NYSE: SYY) announced a cash tender offer for up to $750 million of its outstanding debentures and senior notes. This offer includes various securities with due dates ranging from 2027 to 2050, with specific purchase limits for certain notes. Holders may receive an early tender payment of $50 if they tender before June 3, 2021. The offer is set to expire on June 17, 2021. Acceptance will prioritize early tenders and adhere to specific caps and conditions outlined in the Offer to Purchase.

During Sysco's 2021 Investor Day, CEO Kevin Hourican detailed the company's Recipe for Growth, aiming for adjusted EPS growth of over 30% by FY24 compared to FY19. Sysco plans to reduce debt by $1.5 billion over FY21 and FY22 while targeting $750 million in cost reductions through FY24. The company declared a $0.02 increase in its quarterly dividend, marking the 52nd consecutive increase. Sysco is investing in digital tools, customer-focused marketing, and improved supply chain solutions. A $5 billion share repurchase program was also announced.