Why Wholesale Restaurant Food Distributor Sysco Shares Are Rising Today
Portfolio Pulse from Nabaparna Bhattacharya
Sysco Corporation (NYSE:SYY) reported Q2 FY24 sales of $19.288 billion, slightly below estimates, but saw increases in U.S. Foodservice volume, gross profit, operating income, and adjusted EBITDA. Adjusted EPS of $0.89 beat estimates by $0.01. The company also reported significant increases in cash flow and free cash flow, and reiterated its FY24 guidance, with shares rising 5.87%.
January 30, 2024 | 5:31 pm
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POSITIVE IMPACT
Sysco's Q2 FY24 report showed growth in key areas and an EPS beat, with a positive outlook for FY24. Shares rose 5.87% indicating investor confidence.
Sysco's stock is rising due to a positive earnings report, with an EPS beat and strong cash flow figures. The reiteration of FY24 guidance aligns with analyst expectations, reinforcing investor optimism in the company's performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100