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

RTTNews | 1098 dagar sedan
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

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Asian Markets Trade Mixed

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Indian shares are seen opening flat to slightly lower on Tuesday after Federal Reserve officials offered mixed signals about future rate cuts.
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Japanese Market Slightly Higher

Japanese Market Slightly Higher

The Japanese stock market is slightly higher in post-holiday trading on Tuesday after opening well in the red, extending the gains in the previous three sessions, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving well above the 52,450 level, with gains in exporters and automaker stocks partially offset by weakness in index heavyweights, technology and financial stocks.
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