Sysco Corp. (SYY) Tops Q2 EPS by 2c, Revenues Miss

Sysco Corp. (NYSE: SYY) reported Q2 EPS of $0.75, $0.02 better than the analyst estimate of $0.73. Revenue for the quarter came in at $14.77 billion versus the consensus estimate of $14.81 billion.

Second Quarter Fiscal 2019 Highlights

• Sales increased 2.5% to $14.8 billion
• Gross profit increased 2.7% to $2.8 billion; gross margin increased 4 basis points
• Operating income decreased 14.5% to $451.9 million; adjusted¹ operating income increased 4.8% to $603.3 million
• EPS decreased $0.03 to $0.51; adjusted¹ EPS decreased $0.03 to $0.75

“Our second quarter results were in line with our expectations,” said Tom Bené, Sysco’s chairman, president and chief executive officer. “We saw solid topline growth, while we continue making investments in our business, particularly in our international segment. We remain focused on exceeding our customers’ expectations, while continuing to manage costs, and anticipate seeing additional benefit from our cost savings initiatives in the second half of this fiscal year.”

For earnings history and earnings-related data on Sysco Corp. (SYY) click here.

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