Celebrating Goat Cheese as it Should be
Sysco Announces First Quarter Fiscal 2020 Financial Results

Sysco Announces First Quarter Fiscal 2020 Financial Results


HOUSTON, TX
Monday, November 4th, 2019

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.

Tom Bené, President and Incoming CEO, Sysco Corporation“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:

  • Sales increased 0.6 percent to $15.3 billion
  • Gross profit increased 1.4 percent to $2.9 billion; gross margin increased 15 basis points Operating income increased 6.4 percent to $668.3 million; adjusted operating income increased 7.3 percent to $741.9 million
  • EPS increased $0.06 to $0.87; adjusted EPS increased $0.08 to $0.98

Sysco recently reported its first quarter fiscal 2020 results, improving both of its top and bottom lines

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.

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Sysco 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...