Sysco Q3 Adj. EPS Tops Estimates, But Sales Miss; Appoints Kevin Hourican As Chairman

RTTNews | 554日前
Sysco Q3 Adj. EPS Tops Estimates, But Sales Miss; Appoints Kevin Hourican As Chairman

(RTTNews) - Sysco Corp. (SYY) reported Tuesday net earnings for the third quarter of $424.69 million or $0.85 per share, compared to $429.60 million or $0.84 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.96 per share, compared to $0.90 per share in the year-ago quarter.

Sales for the quarter grew 2.7 percent to $19.38 billion from $18.88 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.95 per share on revenues of $19.74 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company is reaffirming its forecast for adjusted earnings in the range of $4.20 to $4.40 per share, and to return $2.25 billion to shareholders during fiscal year 2024. The Street is currently looking for earnings of $4.32 per share.

Separately, the company announced that the Board has appointed President and Chief Executive Officer Kevin Hourican to Chair of the Board of Directors to succeed Edward Shirley, who has stepped down due to personal health reasons.

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

read more
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 | 254日前
TSX Rises Over 1%; Materials, Energy Stocks Move Up Sharply

TSX Rises Over 1%; Materials, Energy Stocks Move Up Sharply

The Canadian market is up firmly in positive territory on Wednesday, lifted by strong gains in energy, materials and technology sectors. Data showing an improvement in Canadian services sector activity, firm commodity prices and bargain hunting after recent sharp decline contribute to market's notable move up north.
RTTNews | 5時25分前
U.S. Service Sector Activity Returns To Expansion In October

U.S. Service Sector Activity Returns To Expansion In October

The Institute for Supply Management released a report on Wednesday showing U.S. service sector activity returned to expansion in the month of October. The ISM said its services PMI climbed to 52.4 in October after falling to 50.0 in September, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.8.
RTTNews | 7時29分前
U.S. Private Sector Employment Rebounds More Than Expected In October

U.S. Private Sector Employment Rebounds More Than Expected In October

Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. rebounded by more than expected in the month of October. ADP said private sector employment climbed by 42,000 jobs in October after slipping by a revised 29,000 jobs in September. Economists had expected private sector employment to rise by 25,000 jobs.
RTTNews | 8時12分前