Sysco said fiscal 2024 sales rose 3.3% over fiscal 2023. Diluted earnings per share increased 12.1% to $3.89, and adjusted diluted earnings per share rose 7.5% to $4.31.

1. 01

   Sysco said fiscal 2024 sales rose 3.3% over fiscal 2023. Diluted earnings per share increased 12.1% to $3.89, and adjusted diluted earnings per share rose 7.5% to $4.31.

2. 02

   The company said it acquired Edward Don in Q2 of fiscal 2024, and that net annual cash spent on acquisitions, after deducting cash acquired, was $1.2 billion. Interest expense rose $80 million. The company said the higher debt is mainly tied to the Edward Don acquisition and share repurchases.

3. 03

   Sysco said operating cash flow in fiscal 2024 was $3.0 billion (compared with $2.9 billion a year earlier), net capital expenditures were $753 million, and free cash flow was $2.2 billion (compared with $2.1 billion a year earlier).

4. 04

   Sysco said it repurchased 16,128,932 shares for $1.2 billion in fiscal 2024 and that the remaining authorization as of June 29, 2024 was about $2.8 billion. The company said it expects to complete about $1 billion of share repurchases in fiscal 2025.

Key figures

Fiscal year ended June 29, 2024

Revenue

$78.8B

Operating income

$3.2B

Net income

$2.0B

EPS

$3.89

Gross profit

$14.6B

Operating cash flow

$3.0B

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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