Fannie Mae, Freddie Mac shares tumble after conservatorship comments
PLANT CITY, Fla. - Sysco Corporation (NYSE:SYY), a prominent player in Consumer Staples with a market capitalization of $39 billion and trading near its 52-week high of $82.23, opened its newest distribution facility in Tampa Bay on Thursday, marking the ninth site launched by the global food service distributor in the past year as part of its ongoing expansion. According to InvestingPro analysis, the company maintains a GREAT financial health score, suggesting strong operational execution.
The Tampa Bay location represents Sysco’s sixth broadline facility in Florida and is expected to create more than 300 jobs in the region. The facility will serve customers within a 100-mile radius, providing access to food products for restaurants, healthcare facilities, educational institutions and other food service operations. This expansion aligns with the company’s robust revenue growth, which reached $80.79 billion in the last twelve months.
"Sysco is committed to growing with our customers and our communities and making sure we are there to help them succeed by providing diverse, quality products at good value and superb customer service," said Sysco Chairman and CEO Kevin Hourican in a press release statement.
The company has opened or expanded 13 facilities globally in the past year, including locations in Allentown, Pennsylvania; Calgary, Canada; Ireland; London; and Sweden. Sysco’s specialty food subsidiary, Greco Italian, has opened three facilities since the start of 2024, while four other facilities have expanded their operations.
Jane Grout, Sysco West Florida Region President, noted that the company’s expansion in Florida reflects the state’s rapid growth. "We outgrew our Orlando facility and so to support our current and our future customers we are expanding with them," she said.
Sysco, which describes itself as the global leader in distributing food and related products to the food-away-from-home sector, reported sales of more than $78 billion in fiscal year 2024 that ended June 29. The company operates 340 distribution centers across more than 10 countries and employs approximately 76,000 people serving around 730,000 customer locations. With a 55-year track record of consistent dividend payments and upcoming earnings release on July 29, investors can access detailed financial analysis and more exclusive insights through InvestingPro’s comprehensive research reports.
In other recent news, Sysco Corporation reported its third-quarter earnings for 2025, falling short of expectations. The company posted an earnings per share (EPS) of $0.96, missing the anticipated $1.03, and reported revenue of $19.6 billion, below the forecasted $20.12 billion. This shortfall reflects broader industry challenges and a softer macroeconomic environment. UBS analysts maintained a Buy rating on Sysco stock but adjusted their price target to $83, down from $86, following the company’s earnings announcement. UBS noted that Sysco’s performance aligned with industry trends, indicating a halt in market share losses. Meanwhile, Citi initiated coverage with a Neutral rating and a $78 price target, expressing caution about Sysco’s near-term prospects. Citi highlighted potential headwinds related to changes in employee compensation and turnover. Despite these challenges, both firms acknowledge the potential for a positive industry environment in the coming months.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.