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Sysco Appoints New Executives; Shows Strong Performance in Q3 2016

Sysco Appoints New Executives; Shows Strong Performance in Q3 2016

Monday, May 2nd, 2016

Sysco Corp. recently released its Q3 earnings report for 2016, and all signs pointed to robust growth for the company. The company has reported an impressive 2.2 percent growth in sales alongside a 4.1 percent boost in gross profit for the period ending March 26.

Bill DeLaney, CEO, Sysco“Our third quarter financial results were strong as we remained focused on servicing the needs of our customers and made steady progress toward our three-year plan financial objectives,” commented Sysco CEO Bill DeLaney in a statement to the press. DeLaney attributed the company’s impressive performance to “Our favorable local case growth and expense management trends,” adding that, “we are committed to sustaining this momentum in our fourth quarter and into fiscal 2017.”

Apart from $12 billion in total sales and $2.1 billion in gross profit, the report showed:

  • Gross margin grew 35 base points to 17.8 percent
  • Adjusted operating income increased 16.0 percent to $438m
  • Net earnings went up 22.7 percent to $217 million from last year’s $176.9 million

Shareholders yesterday awoke to a $0.06 increase in Sysco’s adjusted earnings per share (EPS) to a total of $0.46. Since the opening bell on Monday, Sysco shares have been trading up with a share value increase of 2.19 points (4.76 percent).

Graphic credited to Google Finance.Sysco also recently announced three new executives, Greg Bertrand, Scott Sonnemaker, and Bill Goetz, who will assume their new posts at Sysco early this July.

  • Greg Bertrand, Senior Vice President for U.S. Foodservice Operations
  • Scott Sonnemaker, Senior Vice President for International Foodservice Operations in the Americas
  • Bill Goetz, Senior Vice President for Sales and Marketing

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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...