Last $36.59 USD
Change Today -0.03 / -0.08%
Volume 1.6M
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As of 8:04 PM 07/29/14 All times are local (Market data is delayed by at least 15 minutes).

sysco corp (SYY) Key Developments

Barfresh Reaches Distribution Services Agreement with Sysco

Barfresh Food Group Inc. has notified the U.S. Securities and Exchange Commission and its investors that it has reached a distribution services agreement for some of its products with Sysco Corporation.

Sysco Mulls Acquisitions

Sysco Corporation (NYSE:SYY) is looking for acquisitions. Bill DeLaney, President and Chief Executive Officer of Sysco Corporation said, "Sysco has a long history of acquisitions. U.S. Foods would be great example of that. I would expect us to continue to do acquisitions. They may take a different form. Certainly you may see more in adjacent spaces and/or international spaces post-close with U.S. Foods. We certainly expect to remain acquisitive."

Sysco Declares Quarterly Dividend Payment, Payable on July 25, 2014

Sysco Corporation announced that its Board of Directors declared a regular quarterly cash dividend of $0.29 per share, payable on July 25, 2014, to common shareholders of record at the close of business on July 3, 2014.

Sysco Corporation Presents at Goldman Sachs Lodging, Gaming, Restaurant and Leisure Conference, Jun-02-2014 09:45 AM

Sysco Corporation Presents at Goldman Sachs Lodging, Gaming, Restaurant and Leisure Conference, Jun-02-2014 09:45 AM. Venue: Goldman Sachs Conference Center, New York, New York, United States. Speakers: William J. DeLaney, Chief Executive Officer, President, Director, Member of Executive Committee and Member of Finance Committee.

Sysco Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 29, 2014; Reaffirms Capital Spending Guidance for Fiscal 2014

Sysco Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended March 29, 2014. For the quarter, sales were $11,277,484,000 compared with sales of $10,926,371,000 for the same period in 2012. Operating income was $332,625,000 compared with operating income of $337,202,000 for the same period in 2012. Earnings before income taxes were $296,683,000 compared with $306,397,000 for the same period in 2012. Net earnings were $180,937,000 or $0.31 per diluted share compared with net earnings of $201,417,000 or $0.34 per diluted share a year ago. Operating income adjusted for certain items was $388,348,000 compared with $387,270,000 for the same period in 2012. Net earnings adjusted for certain items was $222,555,000 or $0.31 per diluted share compared with $234,330,000 or $0.34 per diluted share for the same period in 2012. Adjusted earnings per share, excluding certain items, were $0.38 for the quarter compared to $0.40 in the prior year. For the third quarter, sales increased 3.2% compared to the prior year mainly due to increased case volume, including the impact of acquisitions. Total capital expenditures totaled $117 million for the third quarter this year compared to $111 million last year. Free cash flow was $273 million for the third quarter, increasing over the prior year period mainly due to improvements in working capital performance, which offset weaker net earnings. For the nine months, sales were $34,229,720,000 compared with sales of $32,810,177,000 for the same period in 2012. Operating income was $1,162,600,000 compared with operating income of $1,198,635,000 for the same period in 2012. Earnings before income taxes were $1,075,091,000 compared with $1,108,950,000 for the same period in 2012. Net earnings were $677,362,000 or $1.15 per diluted share compared with net earnings of $709,384,000 or $1.20 per diluted share a year ago. Net cash provided by operating activities was $848,064,000 compared with $759,408,000 for the same period in 2012. Additions to plant and equipment was $387,451,000 compared with $373,048,000 for the same period in 2012. Operating income adjusted for certain items was $1,254,590,000 compared with $1,276,759,000 for the same period in 2012. Net earnings adjusted for certain items was $742,818,000 or $1.26 per diluted share compared with $759,359,000 or $1.28 per diluted share for the same period in 2012. Free cash flow increased 22% to $484 million. The company continues to expect total capital spending to be in the range of $550 million to $600 million for fiscal 2014. However, after including anticipated proceeds from asset sales, net capital spending will be in the range of $500 million to $550 million. As the company begins to particularly strong cash flow performance in the fourth quarter of fiscal 2013, it expects the level of year-over-year increases in free cash flow to moderate.

 

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