Sysco Reports Q1 Non-GAAP EPS of $1.19 Amid Revenue Miss
Sysco (SYY) reported first-quarter financial results where its Non-GAAP earnings per share of $1.19 met market expectations. However, the company's revenue reached $21.7 billion, representing a 2.6% year-over-year increase but falling short of estimates by approximately $320 million. Despite the revenue miss, Sysco showed significant growth in profitability metrics, with EBITDA increasing by 20.4% to $1.2 billion and adjusted EBITDA rising 5.4% to $1.1 billion. Management expressed continued confidence in meeting their adjusted guidance for the remainder of the period.
Tickers: $SYY
Topics: earnings ebitda growth revenue miss