Compared to Estimates, Sysco (SYY) Q3 Earnings: A Look at Key Metrics

Sysco (SYY) reported $19.38 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 2.7%. EPS of $0.96 for the same period compares to $0.90 a year ago.

The reported revenue represents a surprise of -1.85% over the Zacks Consensus Estimate of $19.75 billion. With the consensus EPS estimate being $0.95, the EPS surprise was +1.05%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Sysco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• International Foodservice Operations: $3.49 billion compared to the $3.65 billion average estimate based on two analysts. The reported number represents a change of +4.5% year over year.

• U.S. Foodservice Operations: $13.71 billion compared to the $13.95 billion average estimate based on two analysts. The reported number represents a change of +3.4% year over year.

• Sales- Other: $275.24 million versus $310.66 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -8.9% change.

• Sales- SYGMA: $1.90 billion versus $1.97 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -3.5% change.

• Operating income (GAAP)- Other: $6.37 million compared to the $10.80 million average estimate based on two analysts.

• Operating income (GAAP)- SYGMA: $16.81 million versus the two-analyst average estimate of $29.25 million.

• OTHER- Gross Profit: $71.03 million compared to the $79.51 million average estimate based on two analysts.

• SYGMA- Gross Profit: $153.26 million versus the two-analyst average estimate of $166.39 million.

View all Key Company Metrics for Sysco here>>>

Shares of Sysco have returned -4.2% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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