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Sysco Reports Strong Fourth Quarter and Fiscal Year 2016 Results

HOUSTON, Aug. 15, 2016 (GLOBE NEWSWIRE) -- Sysco Corporation (SYY) today announced financial results for its 14-week fourth fiscal quarter and 53-week fiscal year 2016 ended July 2, 2016. In fiscal 2015, the fourth quarter included 13 weeks and the year included 52 weeks.¹

Fourth Quarter Fiscal 2016 Highlights

  • Sales increased 10.0% to $13.6 billion; on a comparable 13-week basis, sales increased 2.2%
  • Gross profit increased 12.7% to $2.5 billion; gross margin increased 44 basis points to 18.3%; on a comparable 13-week basis, gross profit increased 4.7%
  • Operating income increased 351.9% to $547 million; adjusted operating income increased 23.4% to $628 million; on a comparable 13-week basis, adjusted operating income increased 14.6%
  • Earnings Per Share (EPS) increased $0.26 to $0.38; adjusted EPS increased $0.12 to $0.64; on a comparable 13-week basis, adjusted EPS increased $0.08 to $0.60

Fiscal 2016 Highlights

  • Sales increased 3.5% to $50.4 billion; on a comparable 52-week basis, sales increased 1.5%
  • Gross profit increased 5.7% to $9.0 billion; gross margin increased 38 basis points to 17.9%; on a comparable 52-week basis, gross profit increased 3.6%
  • Operating income increased 50.5% to $1.9 billion; adjusted operating income increased 12.1% to $2.0 billion; on a comparable 52-week basis, adjusted operating income increased 9.6%
  • EPS increased $0.49 to $1.64; adjusted EPS increased $0.26 to $2.10; on a comparable 52-week basis, adjusted EPS increased $0.22 to $2.06

“I am very pleased with our performance during fiscal 2016, as we made significant progress toward our three-year plan financial objectives. During the year...


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