Sysco (SYY) Revenue — Quarter Ended Sep 30, 2023
Revenue for the quarter declined slightly from the immediately preceding period but increased compared with the same quarter one year earlier. The sequential decrease reflects a moderation in the growth trajectory seen in prior quarters.
Key takeaway
Quarter ended Sep 30, 2023 · FY2024 Q1
Revenue for the quarter declined slightly from the immediately preceding period but increased compared with the same quarter one year earlier. The sequential decrease reflects a moderation in the growth trajectory seen in prior quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$19.6B
Revenue reported for this quarter.
Quarter-over-quarter
-0.5%
Change from the immediately preceding quarter.
Year-over-year
+2.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$76.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $18.6B | +13.9% |
| Apr 1, 2023 | $18.9B | +11.7% |
| Jul 1, 2023 | $19.7B | +4.1% |
| Sep 30, 2023 | $19.6B | +2.6% |
Revenue performance
Revenue was lower than the prior quarter, yet higher than the same quarter a year ago. The company’s free cash flow turned negative, with the filing noting impacts from higher capital expenditures, timing, historical seasonality, and investments.
Quarterly comparison
Compared with the immediately preceding quarter, revenue edged lower, while the year-over-year comparison showed a gain. The sequential change breaks a pattern of consecutive increases observed in recent quarters.
What to watch
Monitor whether the sequential revenue decline is a temporary pause or the start of a sustained trend, especially given the negative free cash flow.