Sysco Q3 Adj $0.96 Beats $0.95 Estimate, Sales $19.38B Miss $19.74B Estimate
Portfolio Pulse from Benzinga Newsdesk
Sysco (NYSE:SYY) reported Q3 adjusted earnings of $0.96 per share, surpassing the $0.95 estimate, marking a 6.67% year-over-year increase. However, its sales of $19.38B fell short of the $19.74B estimate, a 2.67% increase from the previous year.
April 30, 2024 | 12:01 pm
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Sysco's Q3 earnings exceeded expectations at $0.96/share, a 6.67% increase YoY, but sales of $19.38B missed estimates by 1.83%.
Sysco's earnings beat may positively impact investor sentiment due to the earnings per share increase, signaling operational efficiency and profitability growth. However, the missed sales forecast could temper enthusiasm, suggesting potential challenges in revenue growth or market conditions. The mixed results lead to a neutral short-term price direction expectation, as the positive earnings beat may be offset by the slight disappointment in sales figures.
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