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Sysco Corp. (SYY) Beats on Q4 Earnings and Revenues
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Sysco Corp. (SYY - Free Report) markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry.
Sysco’s growth strategy remains strong and its efforts to accelerate sales and reduce costs are encouraging. The company also remains positive on the acquisition front. It is encouraging that it has delivered higher gross margins in the past one year, after witnessing declining gross margins since the last two fiscal years. However, Sysco is witnessing soft sales growth due to the unfavorable impact of food cost deflation. Currency headwinds also remain a concern for Sysco.
Earnings Estimates Revision: The Zacks Consensus Estimate for fiscal 2018 have remained unchanged in the last thirty days. However, in the trailing four quarters, excluding quarter under review, the company outpaced the Zacks Consensus Estimate by an average of nearly 6.91%.
Zacks Rank: SYY has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. The Zacks Rank could definitely change following Sysco’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: SYY’s adjusted earnings of 72 cents beat our consensus estimate of 71 cents. Investors should note that these figures take out stock option expenses.
Revenue: SYY’s revenues of $14.42 billion also exceeded the consensus estimate of $14.23 billion.
Key Stats to Note: Sysco sales increased 5.7% on a year-over-year basis. Excluding Brakes acquisition, it increased 3.4%. Gross margin performance continued to improve in the quarter.
Stock Price: Shares remained inactive in pre-market trading.
Check back later for our full write up on this SYY earnings report later!
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Sysco Corp. (SYY) Beats on Q4 Earnings and Revenues
Sysco Corp. (SYY - Free Report) markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry.
Sysco’s growth strategy remains strong and its efforts to accelerate sales and reduce costs are encouraging. The company also remains positive on the acquisition front. It is encouraging that it has delivered higher gross margins in the past one year, after witnessing declining gross margins since the last two fiscal years. However, Sysco is witnessing soft sales growth due to the unfavorable impact of food cost deflation. Currency headwinds also remain a concern for Sysco.
Earnings Estimates Revision: The Zacks Consensus Estimate for fiscal 2018 have remained unchanged in the last thirty days. However, in the trailing four quarters, excluding quarter under review, the company outpaced the Zacks Consensus Estimate by an average of nearly 6.91%.
Zacks Rank: SYY has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. The Zacks Rank could definitely change following Sysco’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: SYY’s adjusted earnings of 72 cents beat our consensus estimate of 71 cents. Investors should note that these figures take out stock option expenses.
Revenue: SYY’s revenues of $14.42 billion also exceeded the consensus estimate of $14.23 billion.
Key Stats to Note: Sysco sales increased 5.7% on a year-over-year basis. Excluding Brakes acquisition, it increased 3.4%. Gross margin performance continued to improve in the quarter.
Stock Price: Shares remained inactive in pre-market trading.
Check back later for our full write up on this SYY earnings report later!
5 Trades Could Profit ""Big-League"" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>