In this file:
· Sysco Misses Expectations for 1Q Sales
· Sysco Q1 Adj. Profit Beats View, But Revenues Miss - Quick Facts
Sysco Misses Expectations for 1Q Sales
By Micah Maidenberg, Dow Jones
via Morningstar - Nov 4, 2019
Sales at Sysco Corp. (SYY) missed Wall Street forecasts for the food distributor's latest quarter.
Sysco on Monday reported sales for its fiscal first quarter of $15.3 billion, up from $15.22 billion last year. Analysts polled by FactSet forecast $15.51 billion.
Profit rose to $453.8 million, or 87 cents a share, from $431 million, or 81 cents a share, last year.
Excluding restructuring costs and after other adjustments, Sysco reported 98 cents a share in profit. Analysts predicted 97 cents a share.
Gross margins in the quarter that ended Sept. 28 rose to 19.23% from 19.08%, Sysco said.
Operating expenses rose 0.7%...
Sysco Q1 Adj. Profit Beats View, But Revenues Miss - Quick Facts
via Nasdaq - Nov 4, 2019
(RTTNews) - Sysco Corp. (SYY), a foodservice distribution company, reported first-quarter net earnings of $453.78 million or $0.87 per share, up from $431.04 million or $0.81 per share in the year-ago period.
Excluding items, adjusted earnings for the quarter were $0.98 per share, compared to $0.91 per share last year.
Net sales for the quarter rose 0.6 percent to $15.30 billion from $15.22 billion in the year-ago period.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.97 per share for the quarter on revenues of $15.51 billion. Analysts' estimates typically exclude special items...