Morgan Stanley Downgrades Sysco (SYY) to Underweight

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Go back to Morgan Stanley Downgrades Sysco (SYY) to Underweight

Sysco Reports Strong Local Case and Operating Income Growth and Delivers Diluted EPS of $0.48

February 1, 2016 8:02 AM EST

HOUSTON, Feb. 01, 2016 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY) today announced financial results for its 13-week second fiscal quarter ended December 26, 2015.¹

Second Quarter Fiscal 2016 Highlights²

Sales increased 0.6% to $12.2 billion;Gross profit increased 3.4% to $2.2 billion; gross margin increased 50 basis points to 17.75%;Adjusted operating income increased 10.2% to $437 million; andAdjusted Earnings Per Share (EPS), including a one-time $0.03 benefit from resolving certain tax contingencies, increased $0.07 to $0.48.... More