After a fiscal year of multiple acquisitions, facility expansions, and new product offerings, the foodservice distributor seems poised to take on 2020. Sysco recently reported its first quarter fiscal 2020 results, improving both of its top and bottom lines.
“We saw improved financial results in the first quarter with adjusted operating income growth that was in line with our expectations, as we remain focused on accelerating local case growth and maintaining our strong track record of expense management,” said Tom Bené, Chairman, President, and Chief Executive Officer, in a recent press release. “As we look forward to celebrating our 50th anniversary this fiscal year, we remain committed to meeting the changing needs of our customers and supporting their continued growth.”
Highlights from the first quarter included:
Joel Grade, Executive Vice President and Chief Financial Officer, noted in the company’s earnings call that the quarterly falls in line with Sysco's current expectations. Notably, growing cases in customers segments, increasing Sysco brand penetration, and a strong track record of managing expenses has only kept Sysco on track to meet its three-year financial plan.
To view the entirety of Sysco's financial report, click here.