Sysco Corporation Stock Drops Despite Earnings Beat
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BTCCSquare news:
Shares of Sysco Corporation (SYY) fell 2.5% despite reporting fiscal Q4 earnings that surpassed analyst expectations. The food services giant posted $1.48 per share on $21.1 billion in revenue, beating estimates of $1.39 per share and $21 billion. However, a goodwill impairment charge squeezed profit margins, leading to a 13% year-over-year decline in net income.
For the full fiscal year, sales grew 3%, but earnings per share dropped 4% to $3.73. CEO Kevin Hourican projects 3%-5% sales growth in fiscal 2026, with earnings expected to reach $4.50-$4.60 per share—below Wall Street's $4.70 target. The stock's valuation now hovers above 17 times earnings.
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