Sysco Full Year 2024 Earnings: EPS Misses Expectations

Simply Wall St · 08/30 11:13

Sysco (NYSE:SYY) Full Year 2024 Results

Key Financial Results

  • Revenue: US$78.8b (up 3.3% from FY 2023).
  • Net income: US$1.96b (up 11% from FY 2023).
  • Profit margin: 2.5% (up from 2.3% in FY 2023). The increase in margin was driven by higher revenue.
  • EPS: US$3.90 (up from US$3.49 in FY 2023).
revenue-and-expenses-breakdown
NYSE:SYY Revenue and Expenses Breakdown August 30th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Sysco EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%.

The primary driver behind last 12 months revenue was the U.S. Foodservice Operations segment contributing a total revenue of US$55.3b (70% of total revenue). Notably, cost of sales worth US$64.2b amounted to 81% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$6.76b (53% of total expenses). Explore how SYY's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Retailing industry in the US.

Performance of the American Consumer Retailing industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with Sysco.