Mon, Aug. 15, 8:02 AM
Mon, Feb. 1, 10:22 AM
- Sysco (SYY +5.8%) jets higher after volume gains in FQ2 helped to drive results above expectations.
- The company has bounced back from the U.S. Foods merger rejection quicker than some analysts anticipated.
- Previously: SYSCO beats by $0.07, revenue in-line (Feb. 1)
- Previously: More on SYSCO's FQ2 (Feb. 1)
Mon, Feb. 1, 8:44 AM
- SYSCO (NYSE:SYY) reports Broadline sales rose 0.6% to $9.6B in FQ2.
- SYGMA sales dropped 3.4% to $1.5B.
- Other sales increased 10.9% to $1.4B.
- Acquisition contributed 0.4 percentage point of growth in the quarter.
- Gross margin rate improved 50 bps to 17.75%.
- Adjusted operating margin rate grew 31 bps to 3.59%.
Aug. 14, 2015, 12:57 PM
- Trian Fund Management officially files notice of its 7% stake in Sysco (SYY +8.4%). The largest blocks of shares were purchased in August, although the accumulation has progressed steadily since June.
- The filing indicates Trian expects to have an active role with Sysco.
- "The Trian Group intends to have further discussions with members of the Board of Directors."
- "The Reporting Persons may take other steps or make other recommendations intended to enhance shareholder value."
- SEC Form 13D
- Previously: Sysco pops after report of Trian position
Aug. 14, 2015, 12:45 PM
Jun. 29, 2015, 8:17 AM| Jun. 29, 2015, 8:17 AM | 2 Comments
Jun. 24, 2015, 8:07 AM
- Shares of Sysco (NYSE:SYY) fall in early trading after the FTC blocked its merger with US Foods.
- The company isn't expected to appeal the decision due to the cost of stretching out the merger timeline even if it won in court.
- The position of the regulator is that a combined Sysco-US Foods entity would dominate the broadline foodservice market.
- Previously: Judge blocks Sysco merger with US Foods (Jun. 23 2015)
- SYY -1.6% premarket to $36.99.
May 4, 2015, 8:49 AM
- SYSCO (NYSE:SYY) reports Broadline sales rose by 4.73% to $9.53B.
- SYGMA sales declined 1.09% to $1.51B.
- Sales from acquisitions increased total sales by 0.6%.
- Gross margin decreased 17 bps to 17.52%.
- Adjsuted operating margin -23 bps to 3.21%.
- FQ3 results
Dec. 9, 2013, 11:24 AM
- The outsized rally in Sysco (SYY +13.1%) following its purchase of US Foods is tied to a deal price which analysts see as coming in on the low end.
- Though shares have fallen back from their lofty +$43 perch, sentiment is still decidedly bullish on volume already 10X normal trading activity due to the enormous synergy opportunities presented by the combination.
- Unlike many merger partners, Sysco and US Foods are fairly complimentary on a geographic basis.
Dec. 9, 2013, 9:15 AM
Dec. 9, 2013, 8:11 AM
- Sysco (SYY) buys U.S. Foods in a deal that has a total enterprise value of close to $8.2B inclusive of the assumption of debt.
- After the merger closes, US Foods shareholders will hold approximately 87M shares of Sysco.
- The new combined company expects to realize annual synergies of $600M.
- The deal is slated to close in Q3 of 2014.
- SYY +10.2% premarket.
Aug. 12, 2013, 3:21 PM
- Sysco (SYY -5.6%) trades lowering after reporting sub-par Q2 earnings on higher food costs and ongoing consumer weakness in the restaurant sector.
- An unfavorable shift in restaurant spending and mix also cut into Sysco's profitability.
- Looking at the current fiscal year, CEO Bill DeLaney says Sysco forecasts gradual improvement.
Nov. 5, 2012, 1:20 PM
Sysco (SYY -2.3%) dips after its FQ1 earnings missed the mark on a per share basis and its revenue narrowly slips by. Net earning fell 5.3% Y/Y as improved sales were largely offset by higher food and transportation expenses, plus increased charges related to its multiyear overhaul. Gross margin eased to 18.1% from 18.4%, while operating expenses were up 6%.| Nov. 5, 2012, 1:20 PM
Aug. 13, 2012, 9:55 AM
Shares of Sysco (SYY +3.3%) open strong after the company beat the estimate of analysts with its FQ4 report. Though food inflation cut into margins, revenue held relatively stable.| Aug. 13, 2012, 9:55 AM
Aug. 13, 2012, 8:09 AMSysco (SYY): FQ4 EPS of $0.62 beats by $0.06. Revenue of $11B (+5.9% Y/Y). Shares +3.3% prerket. (PR) | Aug. 13, 2012, 8:09 AM
May 18, 2012, 1:03 PM