AI English summary of an SEC filing — figures as filed
Sysco SYYThe company said sales rose 3.7% to $19.3 billion and operating income rose 9.2% to $700.0 million for its second fiscal quarter, which ended on December 30, 2023, as reported in 13-week. Diluted EPS was $0.82, compared with $0.28 in the same period last year, and adjusted EPS rose 11.3% to $0.89.
Key points
AI summaryThe company said sales rose 3.7% to $19.3 billion and operating income rose 9.2% to $700.0 million for its second fiscal quarter, which ended on December 30, 2023, as reported in 13-week. Diluted EPS was $0.82, compared with $0.28 in the same period last year, and adjusted EPS rose 11.3% to $0.89.
Sysco said U.S. Foodservice total case volume rose 3.4% and local case volume rose 2.9% in Q2. International Foodservice Operations sales rose 9.6% to $3.6 billion, or 6.4% to $3.5 billion on a constant currency basis.
The company said cash flow from operations was $855.9 million for the first 26 weeks of fiscal 2024, up $352.4 million from the prior-year period. Free cash flow for the same period was $527.4 million, an increase of $308.2 million, and capital expenditures, net of proceeds from sales of plant and equipment, were $328.5 million.
Sysco said it expects to return about $2.25 billion to shareholders in fiscal year 2024 and raised its share repurchase expectations from $750 million to $1.25 billion. The company also said it reaffirmed its full-year outlook for sales of about $80 billion and adjusted EPS of $4.20 to $4.40.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.
Sysco Second-Quarter Sales, Operating Income and EPS Change
The company said sales rose 3.7% to $19.3 billion and operating income rose 9.2% to $700.0 million for its second fiscal quarter, which ended on December 30, 2023, as reported in 13-week. Diluted EPS was $0.82, compared with $0.28 in the same period last year, and adjusted EPS rose 11.3% to $0.89.
Source · Based on the filing body and exhibits
U.S. Foodservice Volume and International Foodservice Sales
Sysco said U.S. Foodservice total case volume rose 3.4% and local case volume rose 2.9% in Q2. International Foodservice Operations sales rose 9.6% to $3.6 billion, or 6.4% to $3.5 billion on a constant currency basis.
Source · Based on the filing body and exhibits
First 26 Weeks Operating Cash Flow and Free Cash Flow
The company said cash flow from operations was $855.9 million for the first 26 weeks of fiscal 2024, up $352.4 million from the prior-year period. Free cash flow for the same period was $527.4 million, an increase of $308.2 million, and capital expenditures, net of proceeds from sales of plant and equipment, were $328.5 million.
Source · Based on the filing body and exhibits
Shareholder Return Outlook and Reaffirmed Annual Guidance
Sysco said it expects to return about $2.25 billion to shareholders in fiscal year 2024 and raised its share repurchase expectations from $750 million to $1.25 billion. The company also said it reaffirmed its full-year outlook for sales of about $80 billion and adjusted EPS of $4.20 to $4.40.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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