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Apr 01, 2023
Sysco Q3 2023 Earnings Report
Sysco reported record third quarter operating income with sales increasing and market share gains.
Key Takeaways
Sysco's Q3 2023 results showed strong financial performance with sales increasing by 11.7% to $18.9 billion, gross profit rising by 13.9% to $3.4 billion, and operating income increasing by 40.0% to $694.2 million. The company delivered record Q3 adjusted operating income, driven by volume growth and effective management of product cost inflation.
Sales increased by 11.7% compared to the same period in fiscal year 2022.
Gross profit increased 13.9% to $3.4 billion, as compared to the same period last year.
Operating income increased 40.0% to $694.2 million, as compared to the same period last year.
EPS increased 42.4% to $0.84 and adjusted EPS increased 26.8% to $0.90, as compared to the same period last year.
Revenue by Segment
Forward Guidance
Statements made in this press release or in our earnings call for the third quarter of fiscal year 2023 that look forward in time or that express management’s beliefs, expectations or hopes are forward-looking statements under the Private Securities Litigation Reform Act of 1995.
Positive Outlook
- Our expectations regarding future improvements in productivity
- Our belief that improvements in our organizational capabilities will deliver compelling outcomes in future periods
- Our expectations regarding improvements in international volume
- Our expectations that our transformational agenda will drive long-term growth
- Our expectations regarding the continuation of an inflationary environment
Challenges Ahead
- the effect, impact, potential duration or other implications of the COVID-19 pandemic and any expectations we may have with respect thereto
- a number of risks, uncertainties, estimates, and assumptions that may cause actual results to differ materially from current expectations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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