Share via Email


* Email To: (Separate multiple addresses with a semicolon)
* Your Name:
* Email From: (Your IP Address is 54.235.48.106)
* Email Subject: (personalize your subject)


Email Content:
Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Sysco Reports on Q1 of FY 2019

11/05/2018

In a press release dated November 5th Sysco (SYY) announced results for the 1st Quarter of Fiscal 2019 ending September 29 th 2018.

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as $ x 1,000 except EPS)

1st Quarter FY 2019 Ending Sept 29th /30th

2018

2017

Difference (%)

Sales:

$15,215,279

$14,650,424

+3.9

Gross profit:

$2,903,785

$2,793,668

+3.9

Operating income:

$628,140

$619,365

+1.4

Net Income

$431,042

$367,640

+14.5

Diluted earnings per share:

$0.81

$0.69

+17.4

Gross Margin (%)

19.1

19.1

-

Operating Margin (%)

4.1

4.2

-2.4

Profit Margin (%)

2.8

2.5

+12.0

Long-term Debt:

$7,913,344

$7,540,765

+4.9

12 Months Trailing:

     

Return on Assets (%)

8.7

   

Return on Equity (%)

57.1

   

Operating Margin (%)

4.3

   

Profit Margin (%)

2.4

   

Total Assets (including 26% goodwill and intangibles)

$18,542,082

$18,418,540

+0.7

Market Capitalization

$33,700,000

   

52-Week Range in Share Price: $52.30 to $75.98

Market Close Friday 2nd Oct. $71.25

Post release Monday 5th Oct.14H00 $64.72 (-9.2%)

SYY missed expectations of $15.4 billion on sales and $0.83 EPS

Forward P/E: 16.7 Beta = 0.8

In commenting on results Tom Bené, president and CEO stated "our top-line results for the first quarter were solid, particularly in our U.S. Foodservice segment," He added "We continue to see expense challenges in the warehouse and transportation areas of our supply chain, which we anticipate will persist. We remain focused on the execution of our strategic priorities, which we believe will serve as the roadmap for additional growth and value creation." The report noted an additional $70 million in supply-chain and selling costs for Q1 2019 over the corresponding 1st Quarter of FY 2018.

Sales of Sysco brands were constant at 38.4 percent of cases.

Sysco operates from 190 distribution centers in the U.S. which collectively contributed to a 5.6% increase in sales value compared to a 0.6% increase in international sales. Sysco distributes 40,000 items to 600,000 customers worldwide


 
Copyright 2018 Simon M. Shane