Sysco targets $500 million AI efficiency savings
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- Sysco (NYSE:SYY) launched a multi-year artificial intelligence efficiency program targeting at least $500 million in savings by fiscal 2029.
- The company reaffirmed its fiscal 2027 guidance, expecting to generate approximately $90 billion in total net sales.
- Management stated the cost-reduction workstreams will automate supply chain productivity, procurement, and back-office operations to support higher mid-term earnings.
Sysco (NYSE:SYY) launched an artificial intelligence efficiency program targeting $500 million in savings by fiscal 2029.
This technology initiative expands upon $100 million of expected net cost savings already factored into near-term forecasts.
Management reaffirmed fiscal 2027 guidance, expecting net sales growth between 6% and 7% to reach approximately $90 billion.
The company stated the automated workstreams will span supply chain productivity, merchandising, and back-office simplification.
The company anticipates adjusted earnings per share of $5.02 to $5.12 based on a 53-week fiscal calendar.
Management also raised its fiscal 2028 and 2029 algorithms to target annual net sales growth up to 7%.
