Sysco Stock Price, News & Analysis

Sysco (NYSE:SYY) will announce its fourth quarter and fiscal year 2024 financial results on Tuesday, July 30, 2024, at 10 a.m. EDT. The results will be discussed during a conference call and webcast available at investors.sysco.com. A news release and slide presentation will also be posted in the investor relations section of their website prior to the call. A replay of the webcast will be available shortly after the live event. Sysco, a global leader in food product distribution, generated over $76 billion in sales for fiscal year 2023. The company operates 334 distribution facilities worldwide, serving approximately 725,000 customer locations.

Sysco has donated a total of $20,000 to support relief efforts following recent storms and floods in Texas. The company contributed $10,000 to the American Red Cross during their telethon and another $10,000 to the Houston Food Bank. Additionally, employees at Sysco's Global Support Center collected and donated shelf-stable, healthy food items, and decorated lunch bags for Kids' Meals, Inc., a local non-profit affected by power outages in Houston.

Sysco received the 'In It for the Long-Haul' Award at the 2024 Alternative Clean Transportation (ACT) Expo for its efforts in reducing emissions and commitment to sustainable transportation.

At the ACT Expo, Sysco's Senior Vice President and Chief Supply Chain Officer, Dan Purefoy, joined other industry leaders like IKEA and DHL in a panel discussion. They discussed global sustainability strategies and Sysco's electric vehicle journey, highlighting the company's role in fleet electrification.

This recognition underscores Sysco's dedication to environmental sustainability in its global supply chain.

Brakes, the UK's largest foodservice supplier, celebrates providing 10 million meals to FareShare, the UK's leading food redistribution charity. This partnership, which began over a decade ago, has now seen Brakes recognized as a FareShare Leading Food Partner for 2024. Brakes' donations support various charitable organizations, including community centers, school clubs, and hospices.

Paul Nieduszynski, CEO of Sysco GB, highlighted the importance of minimizing food surplus and praised the partnership's role in supporting communities. FareShare's Head of Key Food Partnerships, Lucy Allison, expressed gratitude for Brakes' contributions, emphasizing the positive impact on 8,500 charities and community groups across the UK.

Sysco has committed to providing $500 million worth of food globally, including 200 million meals by 2025, with £10 million allocated to the UK. The partnership with FareShare plays a vital role in achieving these goals.

Sysco (NYSE:SYY) will webcast its presentation from the 2024 Deutsche Bank Access Global Consumer Conference in Paris on June 4 at 5:15 a.m. EDT/11:15 a.m. CEST. The webcast can be accessed at investors.sysco.com, with an archived replay available later. Sysco, a global leader in food product distribution, serves approximately 725,000 customer locations with over 334 distribution facilities. For fiscal year 2023, Sysco reported sales of over $76 billion. Investors are encouraged to check the investor relations section of Sysco's website for key updates, including material information.

Sysco has recognized its global colleagues for their volunteer work in the past quarter. Employees Sunny Bhatia, Jamie Schell, Tim Boldt, and Rohana Kumara were highlighted for their contributions, with Sysco making donations to local food banks on their behalf. Across the company, Sysco employees collectively volunteered nearly 2,700 hours. This initiative aligns with Sysco's mission to connect the world through food and care.

On May 22, 2024, Sysco hosted its Investor Day at the NYSE, detailing its three-year growth strategy. CEO Kevin Hourican outlined plans to enhance core performance and continue its 'Recipe for Growth' initiative.

Sysco aims for 4-6% annual sales growth and 6-8% adjusted operating income growth. Anticipated total return to shareholders is 9-11% per year via dividends. They will leverage merchandising, supply chain capabilities, and international market growth.

Sysco introduced 'Sysco Marketplace' to expand product offerings and facilitate third-party sales. The company focuses on local case growth and independent market share through Total Team Selling.

Sysco (NYSE: SYY) has inaugurated a new 454,000 square foot distribution and culinary center in Northampton, PA, marking its first U.S. Broadline facility in over a decade. This state-of-the-art facility is set to create nearly 250 jobs, enhancing Sysco’s service in the Lehigh Valley, Northeast PA, Poconos, and Northern New Jersey regions.

The center includes a cutting-edge culinary hub for menu testing and development, and customers can benefit from Sysco’s loyalty program, Sysco Perks!, which offers extensive delivery options and industry-leading restaurant solutions worth up to $6,000. The facility will also support Sysco’s Your Way program, providing flexible delivery solutions to local restaurants.

Sysco’s growth strategy includes investments in e-commerce and specialty food divisions, aiming to expand its market reach and customer base. The average wage for job opportunities at the new facility is $75,000 annually, along with comprehensive healthcare and retirement benefits.

Sysco (NYSE: SYY), the largest food distributor globally, announced the addition of 10 heavy-duty electric tractors to its fleet in Houston, Texas. This milestone brings Sysco's total electric vehicle (EV) count to nearly 120 across the U.S., Canada, U.K., and Sweden. The expansion is part of Sysco's strategy to cut direct emissions by 27.5% by 2030. U.S.-based EVs are deployed in multiple cities including Baltimore, Denver, and Los Angeles. Sysco aims to exceed 130 EVs by the end of June 2024. Both Neil Russell, Chief Administrative Officer, and Dan Purefoy, Chief Supply Chain Officer, emphasized the collaborative efforts and planning that facilitated this growth, highlighting the benefits of reduced carbon footprint, noise pollution, and improved delivery partner experiences.