Sysco Corp. boosted its Q4 and FY 2022 results, surpassing revenue and earnings expectations, according to an earnings report. Highlights include:

  • Sales increased 17.5% from $16.1 billion in Q4 2021 to $19 billion for the quarter ending July 2, 2022.
  • Sales increased 22.5% versus the same period in fiscal year 2019.
  • Net earnings rose 237.5% from $151 million to $510 million in the comparative quarters.
  • On a non-GAAP basis, earnings rose 60.6% to $588.3 million.
  • EPS increased 241.4% from 29 cents to 99 cents.
  • Adjusted EPS increased 62% from 71 cents to $1.15.
  • U.S. foodservice sales rose 16.4% to $13.4 billion.
  • International foodservice sales rose 30.4% to $3.3 billion.
  • For full year results, sales increased 33.8% from $51.3 billion in 2021 to $68.6 billion for the 52-week period ending July 2, 2022.
  • Sales increased 14.2% versus fiscal year 2019.
  • Net earnings rose 159.2% from $524.2 million to $1.35 billion in the comparative fiscal years.
  • EPS increased 158.8% from $1.02 to $2.64 in the comparative years.
  • Adjusted EPS increased 125.7% from $1.44 to $3.25 in the comparative years.

Shares traded at $82.34 Tuesday against a 52-range of $68.05-$91.53.

The quarterly revenue of $19 billion beat analyst estimates by $710 million, while the non-GAAP EPS of $1.15 beat expectations by 4 cents, according to Seeking Alpha.

"Sysco delivered strong financial results, growing volumes and sales, effectively managing double-digit inflation and improving profitability, all while also strengthening our balance sheet and returning $1.5 billion to our shareholders," Aaron Alt, Sysco's CFO, said in the press release. "While keeping a careful eye on macro-economic developments, we expect to grow adjusted EPS by 26% to 35%, or $4.09 to $4.39, for fiscal year 2023."

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