When Sysco Corp. (NYSE: SYY) released its most recent quarterly results before the markets opened on Monday, the company said that it had $0.91 in earnings per share (EPS) and $15.22 billion in revenue. That compared with consensus estimates of $0.92 in EPS and $15.39 billion in revenue for the fiscal first quarter, as well as the $0.74 per share and $14.65 billion posted in the same quarter of last year.
U.S. Foodservice Operations sales for the first quarter were $10.4 billion, an increase of 5.6% compared to the same period last year. Separately, International Foodservice Operations’ sales were $2.9 billion, an increase of 0.6%.
Cash flow from operations was $271.1 million for the first 13 weeks of fiscal 2019, which was $188.4 million higher compared to the prior year period. Free cash flow for the period was $170.7 million, which was $222.4 million higher compared to the prior year.
On the books, Sysco’s cash and cash equivalents totaled $790.3 million at the end of the quarter, down from $909.2 million in the same period of last year.
The company did not offer any guidance for the fiscal second quarter. However, consensus estimates are calling for $0.79 in EPS and $15.01 billion in revenue.
Tom Bené, Sysco’s president and CEO, commented:
Our top-line results for the first quarter were solid, particularly in our U.S. Foodservice segment. We continue to see expense challenges in the warehouse and transportation areas of our supply chain, which we anticipate will persist. We remain focused on the execution of our strategic priorities, which we believe will serve as the roadmap for additional growth and value creation.
Shares of Sysco were last seen down more than 9% at $64.311, in a 52-week range of $52.30 to $75.98. The consensus price target is $74.38.
Are You Ahead, or Behind on Retirement? (sponsor)
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention.
Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.