Sysco Stock Price, News & Analysis

Sysco (NYSE:SYY) has announced upcoming webcasts of its presentations at two major conferences. The company will present at the Barclays 17th Annual Global Consumer Staples Conference on September 4, 2024, at 1:30 p.m. ET, and at the Wells Fargo 7th Annual Consumer Conference on September 18, 2024, at 8:00 a.m. PST. Both webcasts will be accessible at investors.sysco.com, with archived replays available shortly after the live events.

Sysco, the global leader in food product distribution, serves approximately 730,000 customer locations through 340 distribution facilities worldwide. For fiscal year 2024, ending June 29, 2024, Sysco reported sales exceeding $78 billion. The company employs over 76,000 colleagues and emphasizes sustainability and diversity in its operations.

Sysco (NYSE:SYY), the world's largest food distributor, has announced the appointment of Roberto Marques to its Board of Directors, effective August 15, 2024. Kevin Hourican, Sysco's chair of the board and CEO, welcomed Marques, highlighting his extensive experience in global, consumer-focused businesses across healthcare, food, and beauty sectors.

Marques currently serves as a Board Director at Alcoa , We Mean Business Coalition, and the US Tennis Association Foundation. From 2016 to 2022, he led the expansion and transformation of Natura & Co. as Executive Chairman and Group CEO. His prior experience includes executive roles at Mondelez International and a 25-year tenure at Johnson & Johnson.

Sysco (NYSE:SYY), the global leader in food product distribution, has announced a quarterly cash dividend of $0.51 per share. This dividend will be payable on October 25, 2024, to stockholders of record as of October 4, 2024. Sysco serves approximately 730,000 customer locations worldwide through its 340 distribution facilities and 76,000 colleagues. For the fiscal year 2024, ending June 29, 2024, Sysco reported sales exceeding $78 billion. The company's product range includes food products and equipment for the foodservice and hospitality industries. Sysco emphasizes its commitment to sustainability and diversity, with recent reports available on their website.

Sysco has been recognized as one of Forbes' 2024 Best Employers for New Graduates. This prestigious accolade is based on a survey conducted by Forbes and Statista, which evaluated young professionals' opinions on various aspects of their employers. The survey covered key factors such as compensation, benefits, advancement opportunities, working conditions, flexibility, company image, and inclusion.

Sysco, the global leader in food service, emphasizes the importance of creating a workplace where employees feel valued, connected, and heard. This recognition underscores Sysco's commitment to fostering a supportive, fair, and inclusive work environment that not only attracts new talent but also invests in their career growth and retention.

Sysco (NYSE: SYY) reported its Q4 and full-year 2024 financial results, showing sales growth of 4.2% to $20.6 billion in Q4 and 3.3% to $78.8 billion for the full year. Q4 highlights include:

- U.S. Foodservice volume increased 3.5%
- Gross profit rose 4.2% to $3.8 billion
- Adjusted operating income grew 6.4% to $1.1 billion
- Adjusted EPS increased 3.7% to $1.39

For fiscal year 2024:

- Operating income increased 5.4% to $3.2 billion
- Adjusted EPS rose 7.5% to $4.31
- Cash flow from operations grew 4.2% to $3.0 billion
- The company returned $2.2 billion to shareholders via share repurchases and dividends

Sysco's CEO highlighted market share gains, strong profit growth, and robust cash flow for the year.

Sysco has launched One Planet. One Table., a collection of over 3,500 sustainably-focused products in response to growing consumer demand. This initiative, introduced in November 2023, offers items backed by leading sustainability certifications or standards, ranging from grass-fed beef to eco-friendly disposables.

Neil Russell, Sysco's SVP and Chief Administrative Officer, noted that customers are increasingly seeking sustainable products to meet their own commitments and consumer expectations. This move aligns with the growing interest in food sourcing and production methods.

The initiative aims to make it easier for Sysco's customers to find and purchase products that align with their values and meet consumer demands for sustainability.

Sysco has responded to Hurricane Beryl's impact in Houston with significant donations to support relief efforts. The company delivered over 23,000 bottles of water, 8,000 bags of chips, 10,000 pieces of fruit, and 6,000 servings of juice to cooling centers at West Gray and Southwest Multi-Service Centers. Sysco Houston also contributed to disaster relief organizations, including four pallets of disposable products to Mercy Chefs and ongoing donations of perishable foods and supplies to the Houston Food Bank.

The company worked alongside city leaders, including Mayor John Whitmire, Congresswoman Lizzie Fletcher, and Council Member Abbie Kamin, to provide relief. Sysco's efforts align with their purpose of connecting the world to share food and care for one another, demonstrating their commitment to the Houston community during this challenging time.

Sysco hosted a Customer Appreciation event at its Global Support Center, featuring Philly Flats, a local Houston food business owned by Scott Boyer, a retired Marine cook. Boyer's journey with Sysco began in 2018, and since then, Philly Flats has experienced significant growth, including menu expansion, securing a spot at NRG stadium, and opening a storefront in Katy, Texas in 2023.

The event showcased Boyer's renowned dishes and highlighted the benefits of Sysco's customer loyalty program, 'Sysco Perks!'. Sysco Sales Consultant Nicolette Clarke was recognized for her role in helping Philly Flats optimize its menu and enhance its market presence through social media campaigns. This event underscored Sysco's commitment to fostering strong partnerships with small business owners and supporting their growth.

Sysco (NYSE:SYY) will announce its fourth quarter and fiscal year 2024 financial results on Tuesday, July 30, 2024, at 10 a.m. EDT. The results will be discussed during a conference call and webcast available at investors.sysco.com. A news release and slide presentation will also be posted in the investor relations section of their website prior to the call. A replay of the webcast will be available shortly after the live event. Sysco, a global leader in food product distribution, generated over $76 billion in sales for fiscal year 2023. The company operates 334 distribution facilities worldwide, serving approximately 725,000 customer locations.