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Factors to Note Ahead of Sysco Corporation's (SYY) Q4 Earnings
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Sysco Corporation (SYY - Free Report) is likely to register growth in the top and the bottom line when it reports fourth-quarter fiscal 2023 earnings on Aug 1. The Zacks Consensus Estimate for revenues is pegged at $19.9 billion, suggesting a jump of 4.7% from the prior-year quarter’s reported figure. The consensus mark for fiscal 2023 revenues is pegged at $76.6 billion, suggesting an increase of 11.5% from the year-ago period’s reported figure.
The Zacks Consensus Estimate for fiscal fourth-quarter earnings has been stable at $1.33 per share in the past 30 days, suggesting growth of 15.7% from the year-ago quarter’s figure. The consensus mark for fiscal 2023 earnings per share (EPS) is pegged at $4.00, calling for an improvement from earnings of $3.25 posted in the year-ago period.
Sysco has a trailing four-quarter negative earnings surprise of 1.3%, on average. The food company reported a negative earnings surprise of 2.2% in the last reported quarter.
Sysco is focused on its Recipe for Growth, which is strengthening the company’s capacities across sales and supply chain. The program involves five strategic priorities, which include enhancing customers’ experience via digital tools and improving the supply chain to cater to customers efficiently. In its last earnings call, management highlighted that it expects to witness continued gains from the Recipe for Growth plan and is on track to grow more than 1.35 times the market in fiscal 2023.
Sysco is benefiting from prudent acquisitions, which have been expanding its distribution network and customer base. Also, the company’s diversified channels have been a growth driver. These upsides are likely to get reflected in the to-be-reported quarter.
Yet, Sysco has been encountering product cost inflation for a while. Soft macroeconomic trends like reduced traffic are putting pressure on the company’s volumes. Management expects low single-digit inflation in the fourth quarter of fiscal 2023. The company envisions fiscal 2023 adjusted earnings per share (EPS) near the bottom end of the guidance of $4-$4.15.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict 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 carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.
Stocks With the Favorable Combination
Here are three companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
Coty (COTY - Free Report) currently has an Earnings ESP of +28.57% and a Zacks Rank #2. The company’s top and the bottom line are expected to increase year over year when it reports fourth-quarter fiscal 2023 results. The Zacks Consensus Estimate for Coty’s quarterly revenues is pegged at $1.3 billion, which implies a rise of 13.4% from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for the quarterly EPS is pegged at 2 cents, indicating a 300% growth from the year-ago period’s figure. COTY has a trailing four-quarter earnings surprise of 145%, on average.
Church & Dwight Co., Inc. (CHD - Free Report) currently has an Earnings ESP of +1.14% and a Zacks Rank #2. The company is expected to register top and bottom-line growth when it reports second-quarter 2023 numbers. The Zacks Consensus Estimate for CHD’s quarterly revenues is pegged at $1.42 billion, which suggests an increase of 7.3% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for CHD’s quarterly earnings is unchanged at 79 cents in the past 30 days, suggesting an almost 4% rise from the year-ago quarter’s reported number. CHD has delivered an earnings beat of 9.8%, on average, in the trailing four quarters.
Clorox (CLX - Free Report) currently has an Earnings ESP of +5.64% and a Zacks Rank of 3. CLX is anticipated to register top-line growth when it reports fourth-quarter fiscal 2023 results. The Zacks Consensus Estimate for Clorox’s quarterly revenues is pegged at $1.88 billion, indicating a rise of 4.4% from the figure reported in the prior-year quarter.
The consensus estimate for Clorox’s bottom line is pegged at $1.15 per share, suggesting a decline of 23.7% from the year-ago quarter’s reported figure. CLX has delivered an earnings beat of 25.5%, on average, in the trailing four quarters.
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Factors to Note Ahead of Sysco Corporation's (SYY) Q4 Earnings
Sysco Corporation (SYY - Free Report) is likely to register growth in the top and the bottom line when it reports fourth-quarter fiscal 2023 earnings on Aug 1. The Zacks Consensus Estimate for revenues is pegged at $19.9 billion, suggesting a jump of 4.7% from the prior-year quarter’s reported figure. The consensus mark for fiscal 2023 revenues is pegged at $76.6 billion, suggesting an increase of 11.5% from the year-ago period’s reported figure.
The Zacks Consensus Estimate for fiscal fourth-quarter earnings has been stable at $1.33 per share in the past 30 days, suggesting growth of 15.7% from the year-ago quarter’s figure. The consensus mark for fiscal 2023 earnings per share (EPS) is pegged at $4.00, calling for an improvement from earnings of $3.25 posted in the year-ago period.
Sysco has a trailing four-quarter negative earnings surprise of 1.3%, on average. The food company reported a negative earnings surprise of 2.2% in the last reported quarter.
Sysco Corporation Price and EPS Surprise
Sysco Corporation price-eps-surprise | Sysco Corporation Quote
Things To Consider
Sysco is focused on its Recipe for Growth, which is strengthening the company’s capacities across sales and supply chain. The program involves five strategic priorities, which include enhancing customers’ experience via digital tools and improving the supply chain to cater to customers efficiently. In its last earnings call, management highlighted that it expects to witness continued gains from the Recipe for Growth plan and is on track to grow more than 1.35 times the market in fiscal 2023.
Sysco is benefiting from prudent acquisitions, which have been expanding its distribution network and customer base. Also, the company’s diversified channels have been a growth driver. These upsides are likely to get reflected in the to-be-reported quarter.
Yet, Sysco has been encountering product cost inflation for a while. Soft macroeconomic trends like reduced traffic are putting pressure on the company’s volumes. Management expects low single-digit inflation in the fourth quarter of fiscal 2023. The company envisions fiscal 2023 adjusted earnings per share (EPS) near the bottom end of the guidance of $4-$4.15.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict 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 carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.
Stocks With the Favorable Combination
Here are three companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
Coty (COTY - Free Report) currently has an Earnings ESP of +28.57% and a Zacks Rank #2. The company’s top and the bottom line are expected to increase year over year when it reports fourth-quarter fiscal 2023 results. The Zacks Consensus Estimate for Coty’s quarterly revenues is pegged at $1.3 billion, which implies a rise of 13.4% from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for the quarterly EPS is pegged at 2 cents, indicating a 300% growth from the year-ago period’s figure. COTY has a trailing four-quarter earnings surprise of 145%, on average.
Church & Dwight Co., Inc. (CHD - Free Report) currently has an Earnings ESP of +1.14% and a Zacks Rank #2. The company is expected to register top and bottom-line growth when it reports second-quarter 2023 numbers. The Zacks Consensus Estimate for CHD’s quarterly revenues is pegged at $1.42 billion, which suggests an increase of 7.3% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for CHD’s quarterly earnings is unchanged at 79 cents in the past 30 days, suggesting an almost 4% rise from the year-ago quarter’s reported number. CHD has delivered an earnings beat of 9.8%, on average, in the trailing four quarters.
Clorox (CLX - Free Report) currently has an Earnings ESP of +5.64% and a Zacks Rank of 3. CLX is anticipated to register top-line growth when it reports fourth-quarter fiscal 2023 results. The Zacks Consensus Estimate for Clorox’s quarterly revenues is pegged at $1.88 billion, indicating a rise of 4.4% from the figure reported in the prior-year quarter.
The consensus estimate for Clorox’s bottom line is pegged at $1.15 per share, suggesting a decline of 23.7% from the year-ago quarter’s reported figure. CLX has delivered an earnings beat of 25.5%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.