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Sysco Corporation - SYY STOCK NEWS

Welcome to our dedicated page for Sysco Corporation news (Ticker: SYY), a resource for investors and traders seeking the latest updates and insights on Sysco Corporation stock.

Sysco Corporation (NYSE: SYY) is the global leader in selling, marketing, and distributing food products to restaurants, healthcare and educational facilities, lodging establishments, and other customers who prepare meals away from home. Alongside its extensive food product lineup, Sysco also offers equipment and supplies for the foodservice and hospitality industries.

With a workforce of more than 72,000 employees, Sysco operates 334 distribution facilities globally, serving approximately 725,000 customer locations. In fiscal year 2023, which ended on July 1, 2023, Sysco generated sales exceeding $76 billion. The company's operations are divided into several segments: U.S. foodservice operations (70% of revenue), international (18%), quick-service logistics (10%), and other segments (2%).

As the largest U.S. foodservice distributor, Sysco holds a 17% share in the fragmented $350 billion domestic market. Sysco distributes around 500,000 food and non-food products to various sectors, including restaurants (62% of fiscal 2023 revenue), education and government buildings (8%), travel and leisure (8%), healthcare facilities (7%), and other locations (15%) where meals are prepared outside the home.

Sysco has been actively engaged in recent projects and partnerships to enhance its market presence and operational efficiency. Notably, Sysco has teamed up with iFoodDS to develop a proof-of-concept project aimed at complying with the U.S. Food and Drug Administration's (FDA) Food Safety Modernization Act (FSMA) 204 Food Traceability Rule. This partnership focuses on creating a flexible, scalable, and interoperable traceability solution that ensures food safety and boosts efficiency across its supplier network.

Furthermore, Sysco has introduced new sustainability initiatives, particularly in product packaging. The company is working with suppliers to reduce plastic waste and implement eco-friendly packaging solutions. For example, Sysco's Earth Plus Brand Agave Straw is commercially compostable and reduces plastic waste significantly. Additionally, Sysco's Fresh Direct business in Great Britain has transitioned berries to FSC-certified paper packaging, eliminating over 50 tons of plastic waste annually.

Sysco's commitment to sustainability extends to its own-brand packaging, shifting from white to kraft corrugate cases, saving energy and materials while enhancing recyclability. The company also hosts sustainability summits to collaborate with suppliers on reducing environmental footprints.

In leadership news, Kevin Hourican, Sysco's President and CEO, has been appointed as Chair of the Board of Directors, succeeding Edward D. Shirley due to personal health reasons. Hourican's vision includes enhancing Sysco's Recipe for Growth strategy, aimed at driving market growth through digital transformation, supply chain optimization, and customer-focused solutions.

Sysco's comprehensive growth algorithm emphasizes sustainable growth, operational excellence, and balanced capital return. The company also launched Sysco Marketplace, a digital platform allowing third-party suppliers to sell products directly to Sysco customers, enhancing the shopping experience and supporting smaller suppliers.

For further information on Sysco's sustainability initiatives, financial performance, and strategic developments, visit Sysco's investor relations at investors.sysco.com.

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Sysco (NYSE:SYY) has made significant charitable contributions to Three Square Food Bank in Las Vegas. The company donated 2,500 turkeys and presented a $10,000 check through its Nourishing Neighbors® program. As part of Sysco's Purpose Month, employees volunteered to pack 250 shelf-stable packages, 250 produce bags, and 1,200 Meals on Wheels senior bags. In Fiscal 2024, Sysco Las Vegas has already contributed nearly 33,000 meals to Three Square Food Bank, supporting their mission to address food insecurity affecting one in seven Southern Nevadans.

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Sysco (NYSE:SYY), the world's largest food distributor, donated 2,500 turkeys and presented a $10,000 check to the Houston Food Bank to support local communities during the holiday season. The donation is part of Sysco's annual Purpose Month, during which company employees will volunteer to distribute turkeys through food bank partners. In Fiscal Year 2024, Sysco Houston has already contributed over 300,000 pounds of food to the Houston Food Bank, providing approximately 256,000 meals.

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BetterInvesting Magazine's Editorial Advisory and Securities Review Committee has selected NICE (NICE:Nasdaq) as its 'Stock to Study' for the January/February 2025 issue. The committee highlights the availability of fundamental data including sales, earnings, pre-tax profit, and return on equity through the National Association of Investors. The same issue will also feature a fundamental review of Sysco Corp. (SYY:NYSE) from an undervalued perspective.

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Sysco (NYSE:SYY) announced it will webcast its presentation at the 2024 Morgan Stanley Global Consumer & Retail Conference on Tuesday, December 3, at 8:00 a.m. ET. The live webcast can be accessed at investors.sysco.com, with an archived replay available shortly after the event. Sysco utilizes its investor relations website as the primary channel for key disclosures, which may include material, non-public information.

Sysco is a global leader in food product distribution to restaurants, healthcare facilities, and other meal-preparing establishments. Operating 340 distribution facilities worldwide, Sysco serves approximately 730,000 customer locations and generated over $78 billion in sales for fiscal year 2024. For more information, visit sysco.com.

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Sysco (NYSE:SYY), the world's largest food distributor, has partnered with the MICHELIN Guide as the official wholesale food distribution partner for the MICHELIN Guide Texas ceremony. The collaboration showcases Sysco's premium products and culinary expertise at this prestigious event. Victoria Gutierrez, Sysco's Chief Merchandising Officer, will present the MICHELIN Guide Young Chef Award at the ceremony on November 11. The partnership highlights Sysco's commitment to supporting culinary excellence through its distribution services, own-label products, and culinary consultations.

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Sysco (NYSE: SYY) reported its Q1 FY2025 results with sales increasing 4.4% to $20.5 billion. The company saw a 2.9% increase in gross profit to $3.8 billion, though gross margin decreased 27 basis points to 18.3%. U.S. Foodservice volume grew 2.7%, while operating income increased 0.5% to $808 million. Earnings per share remained flat at $0.99, with adjusted EPS rising 1.9% to $1.09.

The company reiterated its FY25 guidance, projecting sales growth of 4-5% and adjusted EPS growth of 6-7%. International operations showed strong performance with an 8.6% increase in operating income. Sysco plans to return approximately $2 billion to shareholders for the fiscal year.

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SYGMA Kansas City announced that warehouse colleagues represented by the International Brotherhood of Teamsters Local 955 have ratified a new collective bargaining agreement, ending a strike that lasted only 24 hours. The company emphasized its commitment to resolving issues through negotiations to avoid disruptions.

Jon Ratnasamy, president of SYGMA, stated that they had initially offered substantial wage increases and additional benefits requested by colleagues. The company expressed appreciation for their workers' efforts and reaffirmed its dedication to providing competitive wages and benefits.

With the agreement ratified, employees have returned to work and will immediately benefit from the market-leading wages offered by SYGMA. The company views this resolution as a balance between business needs and employee interests.

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Sysco (NYSE:SYY), the world's largest food distributor, has launched 19 innovative, labor-saving products exclusively for its customers through the Cutting Edge Solutions platform. The Fall 2024 lineup includes globally inspired appetizers, labor-saving options, versatile sauces, and on-trend desserts.

Key offerings include:

  • Sweet Thai Chili Chicken Bites, Chicken Al Pastor Blue Corn Empanadas, and Chile Relleno Spring Rolls
  • Portico Classic Homestyle Breaded Mega Shrimp U10
  • Imperial Hot Pepper Peach Sauce
  • Classic Cinnamon Cereal Milk Cake
These products aim to boost efficiency, ignite creativity, and help chefs prepare for the busy season ahead.

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Sysco Canada celebrated the opening of its Legacy Space in Toronto through a 5-year partnership with The Gord Downie & Chanie Wenjack Fund. The space features a hand-painted mural by Hannah Sage LaForme of the Mississaugas of the Credit First Nation and a library nook for reconciliation education.

The celebration included a ceremony led by Elder Garry Sault, remarks from Kayleigh O'Connor of The DWF, and Tim Cameron, President of Sysco Ontario, who emphasized Sysco's commitment to reconciliation. Refreshments from Indigenous-owned businesses were served.

The event highlighted Sysco's dedication to fostering partnerships with Indigenous communities. CTV Toronto featured the Legacy Space on September 28, in honor of the National Day for Truth and Reconciliation.

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Sysco (NYSE:SYY) has announced it will host a conference call and webcast to discuss its first quarter fiscal year 2025 financial results on Tuesday, Oct. 29, 2024, at 10 a.m. EDT. The company will issue a news release and post a slide presentation in the investor relations section of its website prior to the call. Interested parties can listen online at investors.sysco.com, where a replay will be available after the live webcast.

Sysco, the global leader in food product distribution, serves approximately 730,000 customer locations through 340 distribution facilities worldwide with over 76,000 colleagues. For fiscal year 2024, ending June 29, 2024, Sysco generated sales exceeding $78 billion. The company uses its investor relations website as the primary channel for publishing key information to investors.

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FAQ

What is the current stock price of Sysco Corporation (SYY)?

The current stock price of Sysco Corporation (SYY) is $73.49 as of January 21, 2025.

What is the market cap of Sysco Corporation (SYY)?

The market cap of Sysco Corporation (SYY) is approximately 35.9B.

What does Sysco Corporation do?

Sysco Corporation is the global leader in selling, marketing, and distributing food products to restaurants, healthcare and educational facilities, lodging establishments, and other customers who prepare meals away from home. They also provide equipment and supplies for the foodservice and hospitality industries.

How large is Sysco's market share in the U.S.?

Sysco holds a 17% share of the highly fragmented $350 billion domestic foodservice distribution market in the United States.

What are some recent projects Sysco is involved in?

Sysco has partnered with iFoodDS to develop a proof-of-concept project for FSMA 204 Food Traceability compliance. They are also working on sustainability initiatives to reduce plastic waste and implement eco-friendly packaging.

Who is the current CEO of Sysco?

Kevin Hourican is the current President and CEO of Sysco Corporation. He has also been appointed as Chair of the Board of Directors.

How many distribution facilities does Sysco operate?

Sysco operates 334 distribution facilities worldwide.

What is Sysco Marketplace?

Sysco Marketplace is a new digital platform that allows third-party suppliers to sell products directly to Sysco customers, offering a streamlined shopping experience.

What are Sysco's main segments of operation?

Sysco's main segments include U.S. foodservice operations (70% of revenue), international (18%), quick-service logistics (10%), and other segments (2%).

What sustainability efforts is Sysco involved in?

Sysco is involved in various sustainability initiatives, including reducing plastic waste through eco-friendly packaging and hosting sustainability summits with suppliers.

How much revenue did Sysco generate in fiscal year 2023?

Sysco generated sales exceeding $76 billion in fiscal year 2023.

Where can I find more information about Sysco's financial performance?

You can find more information about Sysco's financial performance in the Investor Relations section of their website at investors.sysco.com.
Sysco Corporation

NYSE:SYY

SYY Rankings

SYY Stock Data

35.85B
490.18M
0.18%
88.04%
2.98%
Food Distribution
Wholesale-groceries & Related Products
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United States of America
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