Name: Sysco Corp. (NYSE:SYY) | Analysis of Revenues
Creator: Stock Analysis on Net

Analysis of Revenues

Revenues as Reported

Revenues as Reported

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Sysco Corp., income statement, revenues

US$ in millions

12 months ended:	Jun 29, 2024	Jul 1, 2023	Jul 2, 2022	Jul 3, 2021	Jun 27, 2020	Jun 29, 2019
Canned and dry products	14,902)	14,352)	11,962)	8,147)	8,666)	9,941)
Fresh and frozen meats	14,295)	13,490)	13,269)	9,932)	10,125)	11,570)
Frozen fruits, vegetables, bakery and other	12,061)	11,364)	9,649)	7,515)	7,831)	8,978)
Dairy products	8,031)	8,209)	6,760)	5,057)	5,453)	6,114)
Poultry	7,686)	7,752)	7,690)	5,550)	5,243)	5,848)
Fresh produce	6,825)	6,681)	5,711)	3,999)	4,496)	5,066)
Paper and disposables	5,386)	5,442)	5,085)	4,286)	3,656)	3,960)
Seafood	2,821)	3,023)	3,215)	2,582)	2,695)	3,382)
Beverage products	2,792)	2,558)	2,159)	1,767)	1,963)	2,309)
Equipment and smallwares	1,545)	—)	—)	—)	—)	—)
Other	2,500)	3,452)	3,136)	2,463)	2,764)	2,946)
Sales	78,844)	76,325)	68,636)	51,298)	52,893)	60,114)

Based on: 10-K (reporting date: 2024-06-29), 10-K (reporting date: 2023-07-01), 10-K (reporting date: 2022-07-02), 10-K (reporting date: 2021-07-03), 10-K (reporting date: 2020-06-27), 10-K (reporting date: 2019-06-29).

Overall sales experienced a notable contraction between 2019 and 2021, reaching a trough of 51,298 million US dollars in 2021. This was followed by a robust recovery phase, with total sales ascending to 78,844 million US dollars by 2024, representing a significant increase relative to the 2019 baseline of 60,114 million US dollars.

Primary Revenue Drivers: Canned and dry products, fresh and frozen meats, and frozen fruits, vegetables, bakery, and other products emerged as the dominant growth engines. Canned and dry products showed the most substantial absolute increase, rising from 9,941 million US dollars in 2019 to 14,902 million US dollars in 2024. Fresh and frozen meats similarly increased from 11,570 million US dollars to 14,295 million US dollars over the same period.
Resilient and Expanding Categories: Paper and disposables demonstrated consistent upward momentum, maintaining growth even during the 2020-2021 period when food categories declined, increasing from 3,960 million US dollars to 5,386 million US dollars. Fresh produce, dairy, and poultry also exceeded their 2019 revenue levels, with fresh produce specifically growing from 5,066 million US dollars to 6,825 million US dollars by 2024.
Underperforming Segments: Seafood is the only major category that failed to return to its 2019 revenue levels. After peaking at 3,382 million US dollars in 2019, this segment trended downward, ending at 2,821 million US dollars in 2024, indicating a sustained decline in relative contribution to total sales.
Revenue Diversification: A new revenue stream for equipment and smallwares appeared in 2024, contributing 1,545 million US dollars. This addition, alongside the fluctuations in the other category, suggests a shift in the product mix or a realignment of financial reporting in the most recent fiscal year.

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