The company said fiscal 2024 Q2 sales rose 3.7% from fiscal 2023 Q2. Net earnings for the quarter increased 194.0%, and diluted earnings per share were $0.82, up 192.9% from $0.28 in the same quarter a year earlier.

1. 01

   The company said fiscal 2024 Q2 sales rose 3.7% from fiscal 2023 Q2. Net earnings for the quarter increased 194.0%, and diluted earnings per share were $0.82, up 192.9% from $0.28 in the same quarter a year earlier.

2. 02

   Sysco said adjusted net earnings, excluding Certain Items, rose 10.1% in Q2. Adjusted diluted earnings per share for Q2 were $0.89, up 11.3% from $0.80 in the comparable prior-year period.

3. 03

   The company said other expense, net decreased $325.1 million in Q2. It cited the absence of a one-time pension settlement charge incurred in fiscal 2023 Q2 and higher interest income as factors. The pension settlement charge in fiscal 2023 was $315 million.

4. 04

   Sysco said operating cash flow for the first 26 weeks of fiscal 2024 was $855.9 million, and that it paid $1.2 billion for acquisitions, net of cash acquired. It also said it raised its full-year share repurchase outlook to $1.25 billion from the prior $750.0 million.

Key figures

Quarter ended December 30, 2023

Revenue

$19.3B

Operating income

$700M

Net income

$415M

EPS

$0.82

Gross profit

$3.5B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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

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