In an August 10th release, Sysco Corporation (SYY) released results for Q4 and fiscal 2021 ending July 3rd. For the most recently completed quarter, net profit was $151.1 million on revenue of $16,137 million with an EPS of $0.29. For the corresponding quarter of fiscal 2020 ending June 27th, Sysco lost $618.4 million on sales of $8,867 million with a negative EPS of $1.22.
For fiscal 2021, Sysco posted a net profit of $524.2 million on revenue of $51,297 million with an EPS of $1.02 for fiscal 2020, net earnings were $215.48 million on revenue of $52,893 million with an EPS of $0.42. As with all food service companies, Sysco was severely impacted by COVID for four consecutive quarters commencing Q2 of 2020.
In commenting on Q4 performance, Kevin Hourican, CEO stated, "Sysco's fourth quarter result was strong, reflecting market share gains and industry demand that continues to rebound earlier and stronger than expected". He added, "while labor and product availability cost are pressuring our industry, we planned ahead to be well-positioned and managed through the demand increase resulting from these transitory pressures".