Sysco Q2 2022 Earnings Report

Sysco's second quarter results reflect strong sales growth and increased profitability, despite challenges from inflation and the Omicron variant. The company prioritized top-line growth and profitability improvement, managing inflation efficiently. Exceptional market share gains were achieved through supply chain strength and the Recipe For Growth strategy.

Key Takeaways

Sysco's Q2 2022 results showed a significant increase in sales, driven by market share gains and effective management of product inflation. However, profitability was impacted by higher operating expenses due to the Omicron variant and labor costs. The company returned $650 million to shareholders through share repurchases and dividends, and investments in the Recipe for Growth strategy continued.

Sales increased 41.2% versus fiscal year 2021 and 10.5% versus fiscal year 2019, driven by market share gains.

Gross profit per case increased across all segments.

Profitability was impacted by temporary effects from the Omicron variant and labor cost increases.

$650 million were returned to shareholders through share repurchase and dividends.

Total Revenue

$16.3B

Previous year: $11.6B