In a November 9th release, Sysco Corporation (SYY) reported on the 1st quarter of fiscal 2022 ending October 2nd.
On a GAAP basis, the company earned $378 million on total sales of $16,456 million generating an EPS of $0.73. For the comparable Q1 of fiscal 2021, Sysco earned $217 million on sales of $11,777 million with an EPS of $0.42. Compared with Q1 of 2021 sales increased by 39.1 percent, gross profit by 38.9 percent and operating income by 50.6 percent
In commenting on results, Kevin Hourican CEO stated “Sysco delivered strong results this quarter, fueled by meaningful market share gains. These results reflected sequential top-line improvements and another quarter of net new business wins, continued efficient pass through of inflation, including an increase in gross profit per case, as well as substantial effort by our merchandising team to improve customer fill rates despite ongoing supply challenges,
Sysco Corp. posted assets of $22,103 million with long-term debt and lease obligations of $12,486 million. Market capitalization is $40,777 million. During the past fifty-two weeks, SYY has traded in a range of $67.30 to $86.73 with a fifty-day moving average of $79.92. On a trailing twelve-month basis, operating margin was 3.1 percent and profit margin 1.0 percent. Over the past four quarters the Company has generated returns of 4.5 percent on assets and 37.7 percent on equity.