Sysco (SYY) Stock News

Sysco's international foodservice sales rose 5.1% in the first quarter. The metric covers one segment and did not include revenue or margin detail.

Sysco reported first-quarter U.S. foodservice sales up 2.4% from a year earlier. The disclosure carried no revenue level, volume, margin or guidance figures, so the gain cannot yet be split between price and case growth. U.S. foodservice is the company's largest segment and the clearest read on domestic restaurant and institutional demand.

Sysco's U.S. Foodservice business booked $15.1 billion of sales in the first quarter, according to the company's earnings release. The line stands on its own: no year-earlier figure, growth rate or comparison was published alongside it, so the segment's direction is not yet readable. The U.S. operation is the largest piece of Sysco's revenue base, which makes its trajectory the main variable for the quarter.

Sysco reported adjusted earnings of $1.19 a share for its fiscal first quarter. The figure arrived without revenue, a year-earlier comparison, or any full-year outlook, so the direction of the quarter is not yet established.

Sysco reported first-quarter net income of $526 million. No revenue, earnings per share, prior-year comparison or guidance was included. The profit figure is the first hard number from the company's latest quarterly report.

Sysco closed public offerings of $14.65 billion in notes and EUR1.0 billion in notes. Net proceeds estimated at ~$10.64B from senior notes, ~$3.8B from USD junior sub notes, ~EUR0.99B from euro junior sub notes. Proceeds to fund pending Jetro Restaurant Depot acquisition.

Sysco closed a C$1.5 billion senior notes offering split into two tranches: C$750 million of 4.250% notes due 2030 and C$750 million of 4.800% notes due 2034. Net proceeds are estimated at C$1.49 billion and will partly fund the pending acquisition of Jetro Restaurant Depot. Goldman Sachs, TD Securities, and Merrill Lynch Canada led the offering.

Sysco launches $1B stock offering to help fund Jetro Restaurant Depot acquisition.