Food Products Distributor Sysco Reports Mixed Q1 Earnings; Affirms FY24 Guidance
Portfolio Pulse from Shivani Kumaresan
Sysco Corp reported Q1 FY24 sales growth of 2.6% YoY to $19.62 billion, missing the analyst consensus estimate of $19.73 billion. However, adjusted EPS of $1.07 beat the analyst consensus of $1.04. The company reaffirmed its FY24 guidance of mid-single digit sales growth to approximately $80 billion and 5-10% adjusted EPS growth to $4.20 to $4.40.
October 31, 2023 | 3:16 pm
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NEUTRAL IMPACT
Sysco's Q1 FY24 sales growth missed analyst estimates, but the company beat EPS consensus and reaffirmed its FY24 guidance. This mixed report may have a neutral to slightly positive impact on the stock in the short term.
Sysco's sales growth for Q1 FY24 fell short of analyst estimates, which could negatively impact the stock. However, the company beat the EPS consensus and reaffirmed its FY24 guidance, which are positive signals that could offset the negative impact of the sales miss. Therefore, the overall impact on the stock is expected to be neutral to slightly positive.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100