Sysco Corp. (SYY) Tops Q3 EPS by 4c

Sysco Corp. (NYSE: SYY) reported Q3 EPS of $0.46, $0.04 better than the analyst estimate of $0.42. Revenue for the quarter came in at $12 billion versus the consensus estimate of $11.87 billion.

“Our third quarter financial results were strong as we remained focused on servicing the needs of our customers and made steady progress toward our three-year plan financial objectives. As a result, we generated solid gross profit dollar growth of 4 percent, while effectively managing ongoing deflationary pressures,” said Bill DeLaney, Sysco’s chief executive officer. “Our favorable local case growth and expense management trends have driven improved operating income performance this year, and we are committed to sustaining this momentum in our fourth quarter and into fiscal 2017.”

¹Financial comparisons presented in this release are compared to the same period in the prior year. Earnings Per Share (EPS) and Adjusted EPS are shown on a diluted basis unless otherwise specified. Adjusted financial results exclude certain items, which primarily include restructuring and merger-related costs. A reconciliation of non-GAAP measures is included in this release. ²On a GAAP basis, operating income was $378 million for the third quarter, an increase of 15.4% from the prior year, and $1.3 billion for year to date, an increase of 17.6% from the prior year. Diluted EPS was $0.38 for the third quarter, an increase of 26.7% from the prior year, and $1.26 for year to date, an increase of 22% from the prior year.

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

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