SYSCO Corporation (NYSE:SYY) came out with quarterly figures before Monday’ opening bell
The Houston-based company reported sales increased 1.0% to $15.5 billion
Gross profit increased 2.1% to $3.0 billion; gross margin increased 21 basis points. Operating income improved 5.4% to $720.5 million; adjusted operating income increased 6.6% to $818.1 million. EPS increased $0.18 to $1.03; adjusted EPS increased $0.16 to $1.10
"Sysco saw improved year-over-year performance in the fourth quarter and fiscal year 2019," said CEO Tom Bené, "We continue to focus on our customers and are furthering the progress of our transformative initiatives, which we believe will increase the ease of doing business with Sysco, position us well for the long-term and create value for our shareholders in fiscal year 2020 and beyond."
Cash flow from operations was $2.4 billion for fiscal 2019, which was $255.8 million higher compared to the prior year. Free cash flow¹ for fiscal 2019 was $1.7 billion, which was $249.9 million higher compared to the prior year.
Capital expenditures, net of proceeds from sales of plant and equipment, totaled $671.5 million for fiscal 2019, which was $5.9 million higher compared to the prior year.
Sysco is the global leader in selling, marketing and distributing food products to restaurants, health-care and educational facilities, lodging establishments and other customers who prepare meals away from home
Sysco shares vaulted $2.58, or 3.7%, to $72.57
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