Sysco Corp

SYY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$66.00	Lwdz	Pcwjrtlln

Sysco Earnings: Solid Fiscal Fourth Quarter Despite Restaurant Headwinds; Shares Fairly Valued

Kristoffer Inton

Jul 31, 2024

Wide-moat Sysco delivered solid (June-ended) fiscal 2024 fourth-quarter results. However, with earnings and guidance largely within our expectations, we expect minimal change to our $80 per share fair value estimate. At this time, shares look fairly valued after rallying about 10% from an early July low. We think the market recognizes Sysco’s diversified exposure to out-of-home dining that extends beyond restaurants that have suffered from slowing traffic.

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