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Mar 30, 2024
Sysco Q3 2024 Earnings Report
Sysco's Q3 2024 financial results were announced, highlighting operating income and EPS growth despite a softer macro environment.
Key Takeaways
Sysco reported a 2.7% increase in sales to $19.4 billion and a 3.8% increase in operating income to $722.0 million. EPS increased by 1.2% to $0.85, and adjusted EPS increased by 6.7% to $0.96. The company is raising its cost-out targets from $100 million to $120 million for fiscal year 2024 and remains on target to return approximately $2.25 billion back to shareholders in fiscal year 2024.
Sales increased by 2.7% to $19.4 billion.
Gross profit increased by 5.2% to $3.6 billion.
Operating income increased by 3.8% to $722.0 million.
Adjusted EPS increased by 6.7% to $0.96.
Sysco
Sysco
Sysco Revenue by Segment
Forward Guidance
Sysco reaffirmed its fiscal year 2024 guidance of five to ten percent adjusted EPS growth to $4.20 to $4.40.
Revenue & Expenses
Visualization of income flow from segment revenue to net income