Why Sysco Shares Are Trading Higher Tuesday

Sysco SYY shares moved higher on Tuesday after the company reported better-than-expected Q4 results. Sysco reported fourth-quarter FY21 sales growth of 82% year-over-year, to $16.1 billion, beating the analyst consensus of $14.23 billion.

Sysco CEO Kevin Hourican said "Sysco's fourth quarter results were strong, reflecting market share gains and industry demand that has continued to rebound earlier and stronger than expected."

The company also reported U.S. Foodservice Operations revenue rose 88.4% year over year, International Foodservice Operations revenue grew 83.4% and operating expenses rose 11.9% to $2.3 billion.

Sysco raised the FY22 EPS outlook to $3.33 - $3.53 versus the consensus of $3.32.

Shares were trading up 6.26% as of Tuesday afternoon.