200 plus years of Italian Tradition - Fratelli Beretta
CAPEACHIO’S: Simple Done Right
Sysco Releases Q4 2015 and Full-Year Financial Report

Sysco Releases Q4 2015 and Full-Year Financial Report


HOUSTON, TX
Monday, August 10th, 2015

Shares in Sysco Corp. were trading up about 2.19% on Monday shortly after the release of its fourth quarter and full-year 2015 financial results.

Sysco beat analyst expectations on adjusted earnings, which jumped 6.1% to $0.52 for the fourth quarter. Sales also increased 0.9% to $12.4 billion, but missed expectations.

For comparison, Thomson Reuters consensus estimates were reported at $0.51 for EPS and $12.7 billion in revenues.

Sysco

For fiscal 2015, Sysco’s sales increased 4.7% to $48.7 billion, while adjusted earnings were also up 5.1% to $1.84.

Bill DeLaney, President and CEO, SyscoIn June, Sysco President and CEO Bill DeLaney decided not to pursue the company’s merger with US Foods, saying that it was in the best interests of all of its shareholders to move on. That same month, the U.S. District Court for the District of Columbia ruled in favor of the FTC, citing a “reasonable probability that the proposed merger will substantially impair competition in the national customer and local broadline markets,” said Judge Amit Mehta.

Shortly thereafter, DeLaney said that the company will continue to search for strategic acquisitions that will enhance its shareholder value over time.  

“I am pleased with our results for fiscal 2015 and particularly encouraged by our performance in the fourth quarter,” DeLaney said in the earnings report. “For the year, we delivered solid earnings growth on an adjusted basis by providing our customers with excellent service, growing our business with both our locally and corporate managed customers, and stabilizing our gross margins by successfully implementing several value-added commercial initiatives.”

Sysco Headquarters in Houston, TX

Sysco stated that food cost inflation for the quarter was flat, with modest inflation in the meat, poultry, and frozen categories, offset by modest deflation in the dairy, produce, and seafood categories. For the fiscal year, food cost inflation was 3.7%, driven mainly by inflation in the meat, dairy, and poultry categories.

Sales from acquisitions from the past 12 months contributed 0.6% to sales for the full year.

Gross profit was $8.6 billion, an increase of 4.5% compared to the same period last year, for the fiscal year. For the quarter, gross profit increased 3.0% to $2.2 billion.  

Other highlights for Q4 2015 include:

  • Gross margin increased 35 basis points to 17.9%
  • Adjusted operating income increased 5.8% to $509 million

Other highlights for Fiscal 2015 include:

  • Adjusted operating income increased 3.4% to $1.8 billion
  • Cash flow from operations was $1.6 billion, and free cash flow was $1.0 billion

Stay tuned to Deli Market News as we continue to follow Sysco’s financial performance.

Sysco
Topics:


200 plus years of Italian Tradition - Fratelli BerettaCAPEACHIO’S: Simple Done 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...