By Owen Tucker-Smith
Sysco's earnings fell in the second quarter even while sales rose, as dairy and poultry prices drove up the food distributor's expenses.
The Houston company reported net income of $406 million, down from $415.2 million in the year-earlier quarter. On a per share basis, earnings were unchanged at 82 cents a share. On an adjusted basis, earnings were 93 cents a share, up from 89 cents a share during the same quarter a year ago. Analysts surveyed by FactSet expected 92 cents a share.
Sysco posted sales of $20.15 billion, up from $19.29 billion a year ago. Analysts were looking for $20.1 billion. Sales rose in both the U.S. foodservice and international foodservice segments
The company's product costs rose 2.1% from a year ago, driven by hikes in the prices of dairy and poultry. Operating expenses rose 4.4%
Sysco expects sales to rise between 4% and 5% in the 2025 fiscal year, which ends in June. It expects adjusted earnings per share to rise between 6% and 7%. Analysts expect adjusted earnings of $4.56 a share for the year.
Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com
(END) Dow Jones Newswires
January 28, 2025 08:37 ET (13:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。