Guggenheim Maintains Neutral Rating on Sysco (SYY) Following Results
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Sysco Reports Second Quarter Earnings
February 6, 2017 8:00 AM ESTHOUSTON, Feb. 06, 2017 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY) today announced financial results for its 13-week second fiscal quarter ended December 31, 2016.¹
Second Quarter Fiscal 2017 Highlights
Sales increased 10.7% to $13.5 billion; excluding Brakes, sales decreased 0.2% to $12.1 billionGross profit increased 19.2% to $2.6 billion; gross margin increased 137 basis points to 19.11%; excluding Brakes, gross profit increased 2.9% to $2.2 billion and gross margin increased 55 basis points to 18.29%Operating income increased 13.8% to $492 million; adjusted operating income increased 27.7% to $558 million; excluding Brakes, adjusted operating income increased 12.6% to $492... More