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Sysco Corporation (SYY) to Post Q3 Earnings: What's in Store?
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Sysco Corporation (SYY - Free Report) is likely to register growth in the top and bottom lines while reporting third-quarter fiscal 2023 earnings on May 2. The Zacks Consensus Estimate for revenues is pegged at $18,725 million, suggesting a jump of 10.8% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for the bottom line has been stable in the past 30 days at 92 cents per share. The projection indicates growth of 29.6% from the year-ago quarter’s reported figure.
Sysco has a trailing four-quarter earnings surprise of 7.1%, on average. However, this food company reported a negative earnings surprise of 3.6% in the last reported quarter.
Factors to Consider
SYY has been benefiting from its Recipe for Growth, which is strengthening the company’s capacities across sales and the supply chain. The program involves five strategic priorities, which include enhancing customers’ experience via digital tools, improving the supply chain to cater to customers efficiently, providing customer-oriented merchandising and marketing solutions, having team-based selling and cultivating new capacities, channels and segments, alongside sponsoring investments via cost-saving initiatives.
Sysco’s diversified channels have also been a growth driver. The company’s operations are diversified across different customer types, product categories and geographies. SYY caters to restaurants of all price-point spectrums and types.
The company also caters to health care and education facilities alongside travel and recreation facilities in office buildings. Travel and recreation facilities have been seeing a continued revival. These upsides are likely to be reflected in the quarter to be reported.
On the flip side, SYY has been encountering product cost inflation in the U.S. Foodservice unit for a while now. Also, higher operating costs and a tough landscape might remain headwinds.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Sysco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Sysco has a Zacks Rank #3 and an Earnings ESP of +3.07%.
Other Stocks With the Favorable Combination
Here are some other companies you may want to consider, as our model shows that these also have the right combination of elements to deliver an earnings beat.
Colgate (CL - Free Report) has an Earnings ESP of +1.20% and a Zacks Rank #2 at present. It is expected to post first-quarter 2023 results on Apr 28. The Zacks Consensus Estimate for quarterly revenues is pegged at $4.6 billion, suggesting 4.2% growth from the prior-year quarter’s reported figure. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Colgate’s quarterly earnings has been unchanged in the past 30 days to 70 cents per share, suggesting a decline of 5.4% from the year-ago quarter’s reported number. CL’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, delivering an earnings surprise of 0.4%, on average.
TreeHouse Foods (THS - Free Report) has an Earnings ESP of +19.75% and a Zacks Rank #3 at present. It is likely to register a top-line decrease when it reports first-quarter 2023 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $849 million, suggesting a decline of 25.6% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for TreeHouse’s quarterly earnings has moved up 5.4% in the past 30 days to 39 cents per share, suggesting growth of 360% from the year-ago quarter’s reported number. THS’ earnings beat the Zacks Consensus Estimate in the trailing four quarters, delivering an earnings surprise of 48.8%, on average.
Clorox (CLX - Free Report) currently has an Earnings ESP of +0.14% and a Zacks Rank #3. CLX is anticipated to register top-line growth when it reports third-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.83 billion, indicating a rise of 0.9% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for Clorox’s bottom line has been unchanged in the past 30 days at $1.23 per share. However, the consensus estimate for CLX suggests a decline of 6.1% from the year-ago quarter’s reported figure. CLX has delivered an earnings beat of 27.8%, on average, in the trailing four quarters.
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Sysco Corporation (SYY) to Post Q3 Earnings: What's in Store?
Sysco Corporation (SYY - Free Report) is likely to register growth in the top and bottom lines while reporting third-quarter fiscal 2023 earnings on May 2. The Zacks Consensus Estimate for revenues is pegged at $18,725 million, suggesting a jump of 10.8% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for the bottom line has been stable in the past 30 days at 92 cents per share. The projection indicates growth of 29.6% from the year-ago quarter’s reported figure.
Sysco has a trailing four-quarter earnings surprise of 7.1%, on average. However, this food company reported a negative earnings surprise of 3.6% in the last reported quarter.
Factors to Consider
SYY has been benefiting from its Recipe for Growth, which is strengthening the company’s capacities across sales and the supply chain. The program involves five strategic priorities, which include enhancing customers’ experience via digital tools, improving the supply chain to cater to customers efficiently, providing customer-oriented merchandising and marketing solutions, having team-based selling and cultivating new capacities, channels and segments, alongside sponsoring investments via cost-saving initiatives.
Sysco’s diversified channels have also been a growth driver. The company’s operations are diversified across different customer types, product categories and geographies. SYY caters to restaurants of all price-point spectrums and types.
The company also caters to health care and education facilities alongside travel and recreation facilities in office buildings. Travel and recreation facilities have been seeing a continued revival. These upsides are likely to be reflected in the quarter to be reported.
On the flip side, SYY has been encountering product cost inflation in the U.S. Foodservice unit for a while now. Also, higher operating costs and a tough landscape might remain headwinds.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Sysco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Sysco Corporation Price and EPS Surprise
Sysco Corporation price-eps-surprise | Sysco Corporation Quote
Sysco has a Zacks Rank #3 and an Earnings ESP of +3.07%.
Other Stocks With the Favorable Combination
Here are some other companies you may want to consider, as our model shows that these also have the right combination of elements to deliver an earnings beat.
Colgate (CL - Free Report) has an Earnings ESP of +1.20% and a Zacks Rank #2 at present. It is expected to post first-quarter 2023 results on Apr 28. The Zacks Consensus Estimate for quarterly revenues is pegged at $4.6 billion, suggesting 4.2% growth from the prior-year quarter’s reported figure. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Colgate’s quarterly earnings has been unchanged in the past 30 days to 70 cents per share, suggesting a decline of 5.4% from the year-ago quarter’s reported number. CL’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, delivering an earnings surprise of 0.4%, on average.
TreeHouse Foods (THS - Free Report) has an Earnings ESP of +19.75% and a Zacks Rank #3 at present. It is likely to register a top-line decrease when it reports first-quarter 2023 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $849 million, suggesting a decline of 25.6% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for TreeHouse’s quarterly earnings has moved up 5.4% in the past 30 days to 39 cents per share, suggesting growth of 360% from the year-ago quarter’s reported number. THS’ earnings beat the Zacks Consensus Estimate in the trailing four quarters, delivering an earnings surprise of 48.8%, on average.
Clorox (CLX - Free Report) currently has an Earnings ESP of +0.14% and a Zacks Rank #3. CLX is anticipated to register top-line growth when it reports third-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.83 billion, indicating a rise of 0.9% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for Clorox’s bottom line has been unchanged in the past 30 days at $1.23 per share. However, the consensus estimate for CLX suggests a decline of 6.1% from the year-ago quarter’s reported figure. CLX has delivered an earnings beat of 27.8%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.