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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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Tapestry, Inc. (TPR) appoints Kevin Hourican and David Elkins to its Board of Directors, bringing significant strategic and financial expertise to the company. Hourican, President and CEO of Sysco Corporation, and Elkins, EVP and CFO of Bristol Myers Squibb, join as independent directors, enhancing Tapestry's global growth and transformation initiatives. The additions aim to drive innovation, shareholder returns, and sustainable growth for the company.
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Sysco Corporation (NYSE:SYY) declares a regular quarterly cash dividend of $0.50 per share, payable on April 26, 2024, to common stockholders of record on April 5, 2024.
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Sysco Corporation (NYSE:SYY) will webcast its presentation at the CAGNY 2024 Conference on Tuesday, Feb. 20, 2024, at 2:00 p.m. EST. The live webcast can be accessed at investors.sysco.com, with an archived replay available shortly after. Sysco uses its investor relations section as the primary channel for publishing key information to investors.
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Sysco Corporation (SYY) announced its financial results for the second fiscal quarter ended December 30, 2023. Key highlights included a 3.7% increase in sales, 3.4% growth in U.S. Foodservice volume, and a 4.9% increase in gross profit. Operating income rose by 9.2% to $700.0 million, and adjusted EBITDA increased by 11.6% to $927.5 million. EPS grew by 192.9% to $0.82, and adjusted EPS increased by 11.3% to $0.89. The company expects to return approximately $2.25 billion back to shareholders in fiscal year 2024 and reaffirmed its guidance for top- and bottom-line growth.
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Sysco Corporation (SYY) will discuss its second quarter fiscal year 2024 financial results in a conference call and webcast on Jan. 30, 2024. Interested parties can listen online at investors.sysco.com. The company will issue a news release and post a slide presentation in the investor relations section of its website. Sysco uses its website as the primary channel for publishing key information to its investors.
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Sysco Corporation (NYSE: SYY) and iFoodDS announced a proof-of-concept project to explore solutions that enable Sysco and its diverse supplier base to capture, store, and share data required by the U.S. Food and Drug Administration (FDA) Food Safety Modernization Act (FSMA) 204 Food Traceability Rule. The aim is to implement a flexible, scalable, interoperable traceability solution that provides suppliers flexible and pragmatic options for sharing data required by FSMA 204.
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Sysco Corporation (NYSE:SYY) announced that its colleagues volunteered nearly 17,000 hours during its first ever global Purpose month in November 2023. The company's purpose of Connecting the World to Share Food and Care for One Another was demonstrated through over 500 company-sponsored events or colleague-led volunteer activities across the United States, Canada, Sri Lanka, the U.K. and Ireland. Sysco's Global Good Goal of donating $500 million worth of good by 2025 was significantly contributed to during this global event.
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Sysco Corporation (SYY) launches One Planet. One Table., the foodservice industry’s largest offering of certified and sustainably focused products, with over 3,000 items across 15 categories. The new capabilities in Sysco Shop make it easier for customers to identify and add more sustainable options to menus. The company is committed to leading the industry towards a more sustainable future and has achieved significant milestones in its 2023 Sustainability Report and DEI report.
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Sysco Corporation (NYSE:SYY) Declares $0.50 Quarterly Cash Dividend
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Sysco Corporation (NYSE:SYY) Announces Webcast of Presentation at 2023 Morgan Stanley Global Consumer & Retail Conference
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FAQ

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

The current stock price of Sysco Corporation (SYY) is $80.35 as of December 11, 2024.

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

The market cap of Sysco Corporation (SYY) is approximately 39.8B.

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

39.79B
490.18M
0.18%
88.11%
2.51%
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