
Sysco Maintains Full-Year Forecasts Despite Challenges
Sysco, a leading supplier of packaged and fresh food, has opted to maintain its full-year sales and profit projections despite surpassing analysts' expectations for second-quarter revenue. According to Reuters, the decision comes as the company navigates an uneven recovery in demand from the restaurant sector.
The shift in consumer behavior, influenced by high prices of essentials in the U.S., has led many to favor home-cooked meals over dining out, impacting Sysco's sales momentum. Notably, sales in its food service segment within the U.S., which services varied venues like offices and amusement parks, experienced a 4.1% increase in the quarter ending on December 28. This represents a deceleration compared to the previous quarter's 4.6% growth.
Amidst these challenges, Sysco's quarterly margins felt pressure from rising costs of staple items such as dairy and poultry, resulting in an 11-basis-point drop to 18.1% in the second quarter. This financial strain contributed to a 4% decline in Sysco's stock following the announcement.
Despite these hurdles, Sysco remains optimistic, reaffirming its forecast for a 4% to 5% growth in net sales and a 6% to 7% rise in adjusted earnings per share for the fiscal year. The company's second-quarter sales amounted to $20.15 billion, slightly exceeding analysts' expectations of $20.10 billion, as per data from the IndexBox platform. Sysco is actively working on securing raw materials at reduced costs, an effort predicted to manifest in improved financial results in the latter half of the fiscal year.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
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2. EXECUTIVE SUMMARY
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- KEY FINDINGS
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3. MARKET OVERVIEW
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4. MOST PROMISING PRODUCT
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10. PROFILES OF MAJOR PRODUCERS
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11. COUNTRY PROFILES
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LIST OF TABLES
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- Imports, In Physical Terms, By Country, 2012–2024
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- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Origin, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
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- Consumption, By Country, 2024
- Market Volume Forecast to 2030
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- Products: Market Size And Growth, By Type
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- Products: Exports And Growth, By Type
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- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Production, By Country, 2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, 2012–2024