$SYY (Sysco Corporation)

$SYY {{ '2015-12-29T13:52:38+0000' | timeago}} • Announcement

Distributor of food and related products $SYY said that Tom Bene will take over the role of President and COO, effective Jan. 1, 2016. Mr. Bene will continue to report to the company's CEO, Bill DeLaney, overseeing the business operations and commercial functions and further expanding his responsibilities to include the supply chain organization.

$SYY {{ '2017-10-18T14:03:17+0000' | timeago}} • Announcement

$SYY agreed to buy HFM FoodService, a Hawaii-based broadline distributor with about $290MM in annual sales. $SYY expects to retain the executive leadership team of HFM, as well as all current associates.

$SYY {{ '2017-09-18T11:06:54+0000' | timeago}} • Announcement

$SYY said Sheila Talton has been elected to its BoD, expanding the size of the Board to 15 members. Talton will stand for reelection at Sysco's next Annual Meeting of Stockholders, scheduled for Nov 17, 2017. Sheila currently serves as President and CEO of Gray Matter Analytics.

$SYY {{ '2017-08-14T17:07:26+0000' | timeago}} • Infographic

$SYY Sysco Corporation Earnings AlphaGraphics: Q4 2017 highlights

$SYY {{ '2017-08-14T16:01:39+0000' | timeago}} • Webcast

$SYY said going forward it continues to see opportunities for profitable, disciplined and sustainable growth, despite the competitive market environment. One of the high points of the planned capital expenditure in the coming quarters will be investments for the transformation of the newly acquired Brakes business.

$SYY {{ '2017-08-14T15:41:31+0000' | timeago}} • Webcast

In 2018, $SYY expects to achieve adjusted operating income growth at the higher end of its $600MM-$650MM outlook, excluding the Brakes acquisition. Capital expenditure is expected to increase to 1.3-1.4% of sales next year, including Brakes. The company sees opportunities to invest , especially in facilities and technology, in the coming quarters.

$SYY {{ '2017-08-14T15:05:20+0000' | timeago}} • Webcast

$SYY said the strong financial performance in 4Q17 is attributable mainly to the acquisition of European food distributor Brakes Group. The company intends to continue the focus on driving efficiency from its supply chain, to ensure better service to customers. Going ahead, margins are anticipated to come under pressure from rising inflation.

$SYY {{ '2017-08-14T12:38:12+0000' | timeago}} • Announcement

$SYY said its gross profit increased 10% to $2.8Bil in 4Q17, and gross margin advanced 80 basis points to 19.14%. The operating income was $558MM during the quarter, up 2% compared to last year. The company said its fiscal 2017 fourth quarter had one week lesser than the same period of 2016.

$SYY {{ '2017-08-14T12:25:35+0000' | timeago}} • Announcement

Food products distributor $SYY reported a 42% growth in 4Q17 profit as sales advanced 5.7% to $14.1Bil. Earnings rose to $0.57 per share from $0.38 per share in 4Q16. Non-GAAP EPS was $0.72, up 13% compared to last year. Sales of the International Foodservice segment surged 80%, while those of the US Foodservice operations dropped 3.8%.

$SYY {{ '2017-07-17T21:04:37+0000' | timeago}} • Announcement

$SYY said Bill DeLaney will be succeeded as CEO by Tom Bene, currently president and COO. Bene will become president and CEO effective Jan. 1, 2018, and will join $SYY's BoD. DeLaney will serve as an advisor to Bene through Dec. 31, 2018.

$SYY {{ '2017-05-30T21:10:05+0000' | timeago}} • Announcement

$SYY appointed Brian Todd as SVP, merchandising, effective Aug. 1, 2017, following Bill Day's decision to retire. Day will remain in his current position through July 31, 2017, and work closely with Todd and the company's senior executive team to ensure an orderly transition of his responsibilities.

$SYY {{ '2017-05-26T10:59:38+0000' | timeago}} • Announcement

$SYY BoD declared a regular quarterly cash dividend of $0.33 per share. The dividend is payable on July 28, 2017, to common shareholders of record at the close of business on July 7, 2017.

$SYY {{ '2017-05-08T15:13:06+0000' | timeago}} • Webcast

$SYY said that on international opportunities, the company is feeling good about the earnings momentum it has in Canada currently. In Latin America, there are a couple of JVs like Bahamas, which are smaller in scale but fruitful in terms of what $SYY is seeing over the medium to long term in terms of growth potential.

$SYY {{ '2017-05-08T14:59:11+0000' | timeago}} • Webcast

Regarding capital allocation, $SYY said reinvesting is one of the company's key priority, which reflects in its CapEx. Additionally, dividend is also an area of focus along with pursuing strategic M&A opportunities both in the core space and adjacencies and additional geographies.

$SYY {{ '2017-05-08T12:43:14+0000' | timeago}} • Announcement

In 3Q17, $SYY saw its gross margin jump 89 basis points to 18.74%, as operating income soared 15.5% to $436MM. The Butcher’s Block meat supplier reported cash flow from operations of $1.0Bil for the first 39 weeks of FY17, with capex, net of proceeds from sales of plant and equipment, totaling $395MM for the period.

$SYY {{ '2017-05-08T12:41:10+0000' | timeago}} • Announcement

Food distributor $SYY's sales jumped 12.7% to $13.5Bil in 3Q17, as the Sysco's net earnings rose 9.7% to $238.3MM from a year ago. Earnings soared 15.8% to $0.44 per diluted share, as U.S. Foodservice sales inched 2% up to $9.2Bil and international Foodservice sales doubled to $2.53Bil.

$SYY {{ '2017-03-24T13:45:52+0000' | timeago}} • Announcement

$SYY appointed Ajoy Karna as SVP, international foodservice operations - Europe,  effective April 17, 2017. Karna will be responsible for Brakes Group, which encompasses $SYY's operations in Europe. Ken McMeikan, CEO of Brakes Group, will remain with the Company for a brief transition period.

$SYY {{ '2017-03-01T15:53:03+0000' | timeago}} • Announcement

$SYY appointed Anita Zielinski as SVP and chief accounting officer, effective April 3, 2017. Prior to joining $SYY, Zielinski was a member of Ernst & Young's Assurance practice in Houston for 20 years, and was promoted to partner in 2013.

$SYY {{ '2017-02-06T16:01:33+0000' | timeago}} • Webcast

$SYY said that their third quarter is typically slower for the company's business. Since the Brakes business is more seasonal, the company doesn't expect same addition in 3Q17 as in 2Q17. $SYY expects Brakes business to reduce the EPS modestly in 3Q17 and add modestly in 4Q17.

$SYY {{ '2017-02-06T15:54:40+0000' | timeago}} • Webcast

$SYY, which completed the acquisition of Brakes Group in July 2016, some near-term headwinds in 3Q17. The company expects continued industry softness, challenging YoY comparisons and the seasonal trough of Brakes to impact its results. $SYY expects the Canadian business to deliver positive results.

$SYY {{ '2017-02-06T15:43:19+0000' | timeago}} • Webcast

Food products distributor $SYY reported that modest US GDP growth, increased consumer confidence and strong financial markets reflect positive implications for longer-term consumer demand. The restaurant industry, which represents approx. 60% of the foodservice market, has not strengthened to the level of growth seen in the past, the company said.

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