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
Sysco Q3 Adj. EPS Tops Estimates, But Sales Miss; Appoints Kevin Hourican As Chairman
Sysco To Acquire Edward Don & Co. For Undisclosed Terms
FTSE 100 Gains Despite Inflation Uptick
CAC 40 In The Green As War Clouds Fade
Bay Street May Open On Mixed Note
Pound Rises As U.K. Inflation Accelerates More Than Forecast
DAX Rises As War Fears Ease
