Sysco Corp. (SYY) Tops Q1 EPS by 1c - Correct

(Updated corrects Q1 EPS data).

Sysco Corp. (NYSE: SYY) reported Q1 EPS of $0.52, $0.01 better than the analyst estimate of $0.51. Revenue for the quarter came in at $12.45 billion versus the consensus estimate of $12.35 billion.

"We are pleased with the solid operating performance we delivered in our first fiscal quarter in the midst of ongoing challenging market conditions," said Bill DeLaney, Sysco's president and chief executive officer. "While we were challenged with expense management in certain aspects of our business, we generated 2% case volume growth and managed acute inflationary pressures very effectively. Our improved performance during the quarter was due in part to the benefits we realized from our portfolio of business transformation initiatives, especially category management."

US Foods Merger Update

The company continues to be in productive discussions with Federal Trade Commission (FTC) staff on a solution to permit the FTC to conclude its review. Given the amount of work remaining, and considering the upcoming holidays, the company does not currently expect to complete the transaction before the first quarter of 2015.

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

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