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Sysco Corporation (SYY+1.64%) has submitted its 10-Q filing for the quarterly period ended December 28, 2024.
The filing reports sales of $20.2 billion for the quarter, a 4.5% increase compared to the same period last year. This increase is attributed to growth in U.S. Foodservice Operations and moderate inflation.
Operating income for the quarter was $712 million, an increase of 1.7% from the previous year. Adjusted operating income increased by 5.1% to $783 million, primarily due to positive momentum in International Foodservice Operations.
Net earnings for the quarter were $406 million, a decrease of 2.2% from last year. Adjusted net earnings, excluding certain expenses, increased by 2.0% to $458 million.
Basic earnings per share increased by 1.2% to $0.83, while diluted earnings per share remained unchanged at $0.82. Adjusted diluted earnings per share rose by 4.5% to $0.93.
Sysco reported EBITDA of $931 million for the quarter, a 1.9% increase. Adjusted EBITDA was $969 million, up 4.4% from the previous year.
For the first 26 weeks of fiscal 2025, Sysco reported sales of $40.6 billion, a 4.4% increase from the same period last year. Operating income was $1.5 billion, a 1.0% increase.
Net earnings for the first 26 weeks were $896 million, a decline of 2.5%. Adjusted net earnings increased by 0.6% to $997 million.
Sysco's cash flow from operating activities was $498 million for the first 26 weeks, compared to $856 million in the previous year. The company generated positive free cash flow of $331 million.
The company repurchased 3,949,641 shares for $300 million during the first 26 weeks of fiscal 2025. As of December 28, 2024, Sysco had a remaining authorization of approximately $2.5 billion for share repurchases.
Sysco's effective tax rate for the quarter was 23.8%, consistent with the previous year, influenced by state income taxes and foreign income tax benefits.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Sysco Corporation quarterly 10-Q report dated January 29, 2025. To report an error, please email earnings@qz.com.