Aged Cheddar Cheese
Slingshot Shakes. A complete breakfast.
Venus Wafers - The Original Mariner Biscut Company - Made simple - Made right
Sysco Reports First Quarter Fiscal 2019 Results

Sysco Reports First Quarter Fiscal 2019 Results


HOUSTON, TX
Monday, November 5th, 2018

Sysco Corporation announced financial results for its first quarter fiscal 2019. While the foodservice distributor reported solid top-line numbers—the company also remarked the persistently costly effects of increased transportation and warehousing costs on the company’s finances.

Highlights from the 13-week period ending September 29, 2018 included:

  • Sales increased 3.9% to $15.2 billion
  • Gross profit increased 3.9% to $2.9 billion; gross margin increased 2 basis points
  • Operating income increased 1.4% to $628.1 million; adjusted operating income increased 5.1% to $691.7 million
  • EPS increased $0.12 to $0.81; adjusted EPS increased $0.17 to $0.91

Tom Bené, President and CEO, Sysco Corporation “Our top-line results for the first quarter were solid, particularly in our U.S. Foodservice segment,” said Tom Bené, President and CEO. “We continue to see expense challenges in the warehouse and transportation areas of our supply chain, which we anticipate will persist. We remain focused on the execution of our strategic priorities, which we believe will serve as the roadmap for additional growth and value creation.”

Foodservice distributor Sysco Corporation announced financial results for its first quarter fiscal 2019

The company noted shipping and transportation challenges contributed to nearly static gross profits, a gross margin decrease of 11 basis points, and increased operating expenses of $10.4 million, up 1.9% over last year. According to the Houston Chronicle, Sysco’s failure to hit financial targets sent stocks sliding more that 7% in pre-market trading despite solid top-line results,.

To read more about Sysco's Q1 2019, see the company's earnings release in its entirety here.

Will supply chain issues continue to hamper Sysco and other foodservice providers? Deli Market News will continue to report.

Sysco
Topics:


Aged Cheddar CheeseSlingshot Shakes. A complete breakfast.Venus Wafers - The Original Mariner Biscut Company - Made simple - Made right

Have a new product, press release or story idea?

Let us know

In This Story


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...

WCMA to Award $15,000 in Student Scholarships in 2019 Supporting Cheesemaking’s Next Generation

Students interested in being considered for an award have until February 20 to submit an application.
View Press Release

KMS Installs PURON® PLUS Package System in Canada Featuring PULSION® MBR

The PURON® PLUS system provides a compact and turnkey wastewater treatment solution that is fully automated and provides consistent high-quality effluent for safe discharge or reuse.
View Press Release