Highest-materiality recent filing
Sysco targets $250M annual synergies in Restaurant Depot acquisition; pro forma EBITDA +45%
Deal to add ~$16B revenue; pro forma revenue +20%, Adj. EBITDA +45%, FCF +55%.
Sysco Q3 FY2026 sales +4.7%, U.S. local volumes +3.3% YoY; adj EPS down 2.1% to $0.94
Sales +4.7%; U.S. Foodservice volume +2.3%, U.S. local volume +3.3% (highest quarterly rate in over 3 years).
Sysco enters into $3.0B term loan and $3.0B revolver to finance Jetro Restaurant Depot acquisition
$3.0B revolver replaces existing facility; increases to $4.0B after Jetro closing, option to $5.0B.
Sysco to acquire Jetro Restaurant Depot for $29.1B; enters Cash & Carry channel
$21.6B cash + 91.5M Sysco shares; EV $29.1B, 14.6x Jetro's 2025 operating income.
Sysco to acquire Jetro Restaurant Depot for $21.6B cash and stock; forms new HoldCo
Total consideration: $21.6B cash (subject to adjustments) plus 91.5M shares of HoldCo common stock.
Kenny Cheung resigns as EVP and CFO effective April 17, 2026, to accept a role at a Fortune 10 company.
Sysco Q2 adjusted EPS $0.99 (+6.5% YoY); raises FY2026 guidance to high end of $4.50-$4.60
Sales +3.0%; U.S. Foodservice volume +0.8%, local case volumes +1.2% (positive inflection).
Sysco COO Greg Bertrand to become senior advisor on Jan 1, 2026; will retire after 9 months
Greg D. Bertrand, EVP and Global COO, transitions to non-executive senior advisor on Jan 1, 2026, for at least 9 months, then retires.
Sysco Q1 FY2026 adj. EPS $1.15 (+5.5% YoY); reiterates FY26 guidance
Sales +3.2% to $3.9B; U.S. Foodservice volume +0.1%; gross profit +3.9% to $3.9B.
Sysco Q4 adjusted EPS +6.5% to $1.48; sales +2.8%; guides FY26 adj. EPS $4.50-4.60
Q4 sales up 2.8% YoY; U.S. Foodservice volume down 0.3%; gross profit +3.9% to $4.0B.
Sysco Q3 EPS falls 3.5% to $0.82; adjusted EPS $0.96 flat; FY25 guidance cut
Sales +1.1% to $3.6B; U.S. Foodservice volume -2.0%; gross profit -0.8%.
Sysco prices $1.25B senior notes: 5.100% due 2030, 5.400% due 2035
Issued $700M of 5.100% Senior Notes due 2030 and $550M of 5.400% Senior Notes due 2035.
Sysco Q2 FY25 EPS $0.82 flat YoY; adjusted EPS up 4.5% to $0.93; upsizes buyback to $1.25B
Sales +4.5% YoY; gross profit $3.7B (+3.9%); operating income $712M (+1.7%); adjusted operating income $783M (+5.1%).
Sysco Q1 FY2025 sales up 4.4% to $20.5B; adjusted EPS $1.09 (+1.9%)
Gross profit $3.8B (+2.9%); operating income $808M (+0.5%); adjusted operating income $873M (+2.2%).
Sysco Q4 FY2024 adjusted EPS +3.7% to $1.39; sales +4.2%; guides FY2025 4%-6% sales growth
Q4 sales $3.8B (+4.2%); US Foodservice volume +3.5%; local case volume +0.7%
Sysco CEO Kevin Hourican appointed Chair of the Board; Ed Shirley resigns for health reasons
Edward Shirley resigned as Board Chair effective April 30, 2024 due to personal health reasons; continues as director? Actually resigned from Board entirely.
Sysco Q3 FY2024: Adj EPS $0.96 (+6.7%); raises cost-out target to $120M
Sales +2.7%; U.S. Foodservice volume +2.9%; local volumes +0.4%.
Sysco Q2 FY2024: Adjusted EPS $0.89 (+11.3%), sales up 3.7%, raises buyback to $1.25B
Sales +3.7%; U.S. Foodservice volume +3.4%; local volumes +2.9%.
Sysco issues $1.0B in senior notes (5.750% 2029 / 6.000% 2034); net proceeds $987.5M
Issued $500M 5.750% Senior Notes due 2029 and $500M 6.000% Senior Notes due 2034.
Sysco Q1 adjusted EPS $1.07 (+10.3%), sales +2.6%, reiterates FY24 guidance
Sales up 2.6%; US Foodservice volume +1.6%; gross profit $3.6B (+4.6%).
Sysco EVP & CCO Judith Sansone to stay part-time after retirement; gets $141K salary, equity vesting
Retired as EVP/CCO effective Oct 2, 2023; will remain as non-executive advisor per Oct 5 letter agreement.
Sysco reports record Q4 sales, operating income, and cash flow; EPS up 45.5%
Sales +4.1% YoY; U.S. Foodservice volume +2.3%; gross profit +7.0% to $3.7B.
Sysco Q3: record adjusted operating income $735.5M; EPS $0.84, sales +11.7% YoY
Sales increased 11.7% YoY; gross profit $3.4B (+13.9%); US foodservice volume +6.1%.
Sysco Q2: Adjusted EPS up 40% to $0.80; GAAP EPS down due to $315M pension charge
Sales increased 13.9% to $3.3B; U.S. Foodservice volume up 5.2%.
Sysco CFO Aaron Alt to step down Jan 6; Neil Russell appointed interim CFO
Aaron Alt resigns as EVP & CFO effective Jan 6, 2023 to accept another opportunity.
Sysco Q1 sales +16.2%, US volume +7.3%, adjusted EPS $0.97 vs $0.83
Sales increased 16.2% YoY; U.S. Foodservice volume up 7.3%; gross profit $3.5B (+17.4%).
On August 15, 2024, the Board of Directors (the “Board”) of Sysco Corporation (“Sysco” or the “Company”) increased the size of the Board from ten to eleven directors and elected Mr. Roberto Marques to fill the resulting vacancy, effective on August 15, 2024.
The Board appointed Mr. Larry C. Glasscock to serve as Lead Independent Director effective as of April 30, 2024.
On April 26, 2024, Edward D. Shirley provided notice to Sysco Corporation (the “Company”) of his resignation as a member of the Board of Directors (the “Board”) of the Company, including any Board committees, and from his service as the Chair of the Board for personal health reasons, which resignation was effective as of April 30, 2024.
Coinciding with Mr. Shirley’s resignation, effective as of April 30, 2024, the Board appointed Chief Executive Officer Mr. Kevin P. Hourican as Chair of the Board to succeed Mr. Shirley in that role.
On October 12, 2023, the Board of Directors (the “ Board ”) of Sysco Corporation (“ Sysco ” or the “ Company ”) approved the appointment of Ms. Jennifer L. Johnson as Sysco’s Senior Vice President and Chief Accounting Officer, with an expected effective date of October 23, 2023 (the “ Effective Date ”).
On October 5, 2023, the Company entered into a letter agreement with Ms. Sansone (the “Letter Agreement”), pursuant to which Ms. Sansone will remain employed on a part time basis as a non-executive employee of the Company in an advisory capacity.
Ms. Judith S. Sansone, Sysco’s Executive Vice President and Chief Commercial Officer, intended to retire from Sysco, effective October 2, 2023.
On September 22, 2023, the Board announced that Dr. Hans-Joachim Koerber, a member of the Board, will retire from his service as a director at the time of Sysco’s 2023 Annual Meeting of Stockholders, currently scheduled for November 17, 2023.
On September 7, 2023, Ms. Judith S. Sansone, Executive Vice President and Chief Commercial Officer of Sysco Corporation (“ Sysco ” or the “ Company ”), notified the Company of her intention to retire from Sysco, effective October 2, 2023.
appointed Mr. Greg D. Bertrand, currently Sysco’s Executive Vice President, U.S. Foodservice Operations, as the Company’s Executive Vice President, Global Chief Operating Officer, effective September 1, 2023.
The Board also expanded Mr. Thomas R. Peck Jr.’s responsibilities as Executive Vice President, Chief Information Officer and Digital Officer of the Company, effective September 1, 2023.
Mr. Cheung will succeed Mr. Neil A. Russell, who will be transitioning to serve as the Company’s Senior Vice President and Chief Administrative Officer as of the Effective Date.
Max materiality 0.95 · Median 0.60 · Most common event earnings