BofA/Merrill Lynch Upgrades Sysco (SYY) to Buy
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Sysco Reports First Quarter Double Digit Earnings Growth
November 7, 2016 8:00 AM ESTHOUSTON, Nov. 07, 2016 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY) today announced financial results for its 13-week first fiscal quarter ended October 1, 2016.¹ These results reflect the performance of the newly acquired Brakes Group, which are incorporated for the first time.
First Quarter Fiscal 2017 Highlights
Sales increased 11.2% to $14.0 billion; excluding Brakes, sales increased 1.0% to $12.7 billionGross profit increased 20.3% to $2.7 billion; gross margin increased 146 basis points to 19.27%; excluding Brakes, gross profit increased 5.0% to $2.3 billion; gross margin increased 70 basis points to 18.52%Operating income increased 14.9% to... More
