Sysco Q1 Adj. EPS Miss Estimates, But Sales Top; Reaffirms FY22 Outlook

RTTNews | 846 days ago
Stocktwits
Sysco Q1 Adj. EPS Miss Estimates, But Sales Top; Reaffirms FY22 Outlook

(RTTNews) - Sysco Corp. (SYY) reported Tuesday net earnings for the first quarter that increased to $465.57 million or $0.91 per share from $378.01 million or $0.73 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.97 per share, compared to $0.83 per share in the year-ago quarter.

Sales for the quarter grew 16.2 percent to $19.13 billion from $16.46 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.99 per share on revenues of $18.66 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2022, the company is reaffirming its forecast for adjusted earnings in the range of $4.09 to $4.39 per share, and to return $1.5 billion to shareholders during fiscal year 2023. The Street is currently looking for earnings of $4.18 per share

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

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Frozen Shakes Sold To Care Facilities Recalled After Listeria Outbreak, Death

Frozen Shakes Sold To Care Facilities Recalled After Listeria Outbreak, Death

Frozen supplemental shakes under Lyons ReadyCare and Sysco Imperial brands sold to hospitals and long-term care facilities have been recalled following a multistate outbreak of Listeria monocytogenes, including deaths. Sysco Corp., Lyons Magnus LLC, and their third-party manufacturer Prairie Farms Dairy, Inc. have called back 4 oz. Lyons ReadyCare and Sysco Imperial Frozen Supplemental Shakes.
RTTNews | 11h 9min ago
German Business Confidence Remains Unchanged

German Business Confidence Remains Unchanged

German business morale remained unchanged in February as companies were less satisfied with current situation, while expectations improved moderately amid the federal elections, survey results from the ifo Institute showed on Monday. The ifo business climate index registered 85.2 in February, the same as in January. The score was forecast to rise to 85.9.
RTTNews | 6h 27min ago
Sensex, Nifty Tumble; IT Stocks Hit Hard On Tariff Concerns

Sensex, Nifty Tumble; IT Stocks Hit Hard On Tariff Concerns

Indian shares tumbled on Monday, with export-oriented IT stocks coming under heavy selling pressure as weak U.S. economic data rekindled growth worries and U.S. President Donald Trump reiterated that his administration would impose reciprocal tariffs "soon" on countries like India and China.
RTTNews | 7h 6min ago
CAC 40 Recovers From Early Setback, Down Marginally

CAC 40 Recovers From Early Setback, Down Marginally

After a slightly weak start and a subsequent drop to lower levels, French stocks regained some lost ground Monday morning. The mood remains cautious amid a lack of positive triggers.
RTTNews | 7h 17min ago
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