BUZZ-Food supplier Sysco falls after reiterating annual forecasts

Updates

Shares of food distributor Sysco Corp SYY.N down as much as 5.9% to $72.30 in early trading

Co reiterates annual sales and profit forecasts after beating Q2 revenue estimates amid an uneven demand recovery for restaurants

Co expects full-year sales growth of 4% to 5% and adjusted EPS growth of 6% to 7%

Posts Q2 sales of $20.15 billion vs estimates of $20.10 billion and adjusted EPS of 93 cents in line with expectations - data compiled by LSEG

*Sales in U.S. food service, co's major segment, rose 4.1% in Q2, compared to a 4.6% increase in prior quarter

SYY rose 4.6% in 2024