Financial Data and Key Metrics Changes - Sysco reported sales of $19.6 billion, an increase of 1.1% on a reported basis and 1.8% excluding the divestiture of Mexico [9][34] - Adjusted operating income was $773 million, down 3.3% year-over-year, while adjusted EPS remained flat at $0.96 [9][34] - Gross profit was $3.6 billion, down 0.8%, with a gross margin of 18.3% [37] Business Line Data and Key Metrics Changes - The US Foodservice (USFS) segment experienced a 2% decrease in total volume, with local volume down 3.5% [35][11] - The national sales business had flat volume growth but achieved a sales growth of 2.3% [11] - The Sigma segment delivered a sales growth of 9.5%, with year-to-date growth of 9% in top line and 17% in bottom line [12] Market Data and Key Metrics Changes - Foot traffic to restaurants declined by 3.1% overall, with January down 1.3%, February down 5.7%, and March down 2.3% [5][6] - The Michigan Consumer Confidence Survey indicated one of the lowest levels of consumer confidence in approximately 20 years, raising concerns for future performance [6][27] Company Strategy and Development Direction - Sysco is focusing on improving local business performance through strategic sourcing and logistics efficiency, with a target of $100 million in profit improvement [10][28] - The company is expanding fulfillment capacity with new facilities in Allentown, PA, and Tampa, FL, as well as internationally in Sweden and Ireland [19][22] - A pilot program for cash and carry store locations called Sysco To Go is being introduced to capture the fast-growing segment of value-seeking customers [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment with Q3 performance but noted stronger trends in April compared to March, indicating cautious optimism for Q4 [7][51] - The company is preparing for a challenging environment due to tariff uncertainties and consumer confidence issues, while maintaining a focus on disciplined cost management [28][46] - Sysco's strong balance sheet is viewed as a competitive advantage, allowing continued investment in growth opportunities [33][28] Other Important Information - Sysco's international segment posted double-digit profit growth for the sixth consecutive quarter, with local volume increasing by 4.5% [10][22] - The company has repurchased $700 million in shares and paid out $752 million in dividends year-to-date, with a 6% increase in planned quarterly cash dividends [33][34] Q&A Session Summary Question: Local business sales headcount investments and their impact - Management expects to end the year with approximately 4% growth in sales consultant headcount, with strong performance from new hiring cohorts [56][58] Question: Local restaurant industry performance compared to national - National restaurants faced a tough quarter, with local performance consistent with industry trends, but certain sectors like food service management remained stable [67][68] Question: Clarification on local case growth and fiscal 2025 guidance - Management is confident that local performance was consistent with the market, and the guidance reflects cautious optimism due to macro uncertainties [79][91]

Core Viewpoint - Sysco Corporation reported third-quarter fiscal 2025 results with an increase in sales but flat earnings year over year, both of which fell short of the Zacks Consensus Estimate [1][4]. Financial Performance - Adjusted earnings per share were 96 cents, missing the Zacks Consensus Estimate of $1.03 [4]. - Sales reached $19,598 million, a 1.1% year-over-year increase, but below the consensus estimate of $19,969 million. Currency headwinds negatively impacted sales by $117 million [4]. - Gross profit declined 0.8% year over year to $3.8 billion, with a gross margin decrease of 35 basis points to 18.3% [5]. - Operating income dropped 5.7% year over year to $681 million, while adjusted operating income fell 3.3% to $773 million [6]. Segment Analysis - **U.S. Foodservice Operations**: Sales rose 0.7% year over year to $13,800 million, missing the consensus estimate of $14,205 million. Total case volume declined 2% [7]. - **International Foodservice Operations**: Sales decreased 1.1% year over year to $3,457 million, lagging the consensus estimate of $3,517 million. Adjusted for constant currency, sales increased by 2.2% [9]. - **SYGMA Segment**: Sales were $2,084 million, exceeding the consensus estimate of $2,047 million [10]. Financial Health - The company ended the quarter with cash and cash equivalents of $1,527 million and long-term debt of $12,234 million [14]. - Cash flow from operations for the first 39 weeks of fiscal 2025 was $1,317 million, with free cash flow amounting to $954 million [14]. - Sysco returned $1.5 billion to shareholders through share buybacks and dividends during the first 39 weeks of fiscal 2025 [15].

Core Viewpoint - Sysco reported quarterly earnings of $0.96 per share, missing the Zacks Consensus Estimate of $1.03 per share, representing an earnings surprise of -6.80% [1][2] Financial Performance - Sysco's revenues for the quarter ended March 2025 were $19.6 billion, missing the Zacks Consensus Estimate by 1.86%, compared to $19.38 billion in the same quarter last year [2] - Over the last four quarters, Sysco has surpassed consensus EPS estimates only once and has topped consensus revenue estimates three times [2] Stock Performance - Sysco shares have declined approximately 7.9% since the beginning of the year, while the S&P 500 has decreased by 6% [3] - The current Zacks Rank for Sysco is 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.50 on revenues of $21.26 billion, and for the current fiscal year, it is $4.56 on revenues of $81.86 billion [7] - The trend of estimate revisions for Sysco is mixed, which could change following the recent earnings report [6] Industry Context - The Zacks Industry Rank for Food - Miscellaneous is in the top 34% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8]

https://files.reportify.cc/media/production/SYY1da7c26fb2e62f4a9cc2d2a74616c560.jpg SYSCO REPORTS THIRD QUARTER FISCAL YEAR 2025 RESULTS HOUSTON, April 29, 2025 - Sysco Corporation (NYSE: SYY) ("Sysco" or the "company") today announced financial results for its 13-week third fiscal quarter ended March 29, 2025. Key financial results for the third quarter of fiscal year 2025 include the following (comparisons are to the same period in fiscal year 2024): "Sysco's Q3 results were negatively impacted by multipl ...

HOUSTON, April 29, 2025 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY) ("Sysco" or the "company") today announced financial results for its 13-week third fiscal quarter ended March 29, 2025. Key financial results for the third quarter of fiscal year 2025 include the following (comparisons are to the same period in fiscal year 2024): "Sysco's Q3 results were negatively impacted by multiple factors: California wildfires, significantly adverse weather, and more recently, weakening consumer confidence. Each ...

HOUSTON, April 24, 2025 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that the Board of Directors has approved a $0.03 increase in the quarterly cash dividend to $0.54 per share from the current $0.51 per share. The new dividend is payable for the first time on July 25, 2025, to common stockholders of record at the close of business on July 3, 2025. "The Board's decision to increase the dividend by 6% reflects Sysco's continued commitment to maintaining a healthy dividend payout ratio of ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Sysco (SYY) reports results for the quarter ended March 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on April 29, 2025, might help the stock move higher if these key numbers are better than expectations ...

Sysco Corporation (SYY) is likely to register top and bottom-line growth when it reports third-quarter fiscal 2025 earnings on April 29. The Zacks Consensus Estimate for net sales is pegged at almost $20 billion, suggesting an increase of 3% from the prior-year quarter’s actual. The consensus mark for fiscal third-quarter earnings has moved down by 1 cent in the past 30 days to $1.03 per share, indicating growth of 7.3% from the year-ago quarter’s reported figure. SYY has a negative trailing four-quarter ea ...

Group 1 - Sysco Corporation has announced a partnership with the MICHELIN Guide, becoming the official wholesale food distributor for the prestigious culinary event [1][2] - The collaboration will be celebrated at the 2025 MICHELIN Guide Florida Ceremony in Orlando on April 17, showcasing Sysco's high-quality products and culinary expertise [2][3] - Sysco aims to support chefs with top-quality ingredients and resources, enhancing the dining experience in Florida's dynamic restaurant scene [3][4] Group 2 - Sysco is the global leader in food distribution, operating 340 distribution centers across over 10 countries and serving approximately 730,000 customer locations [6][7] - The company generated sales exceeding $78 billion in fiscal year 2024, indicating its significant market presence and operational scale [6] - Sysco offers customized supply chain solutions and culinary support, helping customers innovate and optimize their operations in the food service industry [7]

HOUSTON, April 08, 2025 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) will host a conference call and webcast to discuss its third quarter fiscal year 2025 financial results at 10 a.m. EDT on Tuesday, April 29, 2025. All interested parties are invited to listen online at investors.sysco.com. Prior to the conference call and webcast, the company will also issue a news release and post a slide presentation in the investor relations section of its website. A replay of the webcast will be available online sh ...