ADVFN - Advanced Financial Network.
HOME» NYSE » S » SYY Stock Price » SYY Stock News

Sysco Share News

 Sysco Corp. Stock Price
SYY Stock Price
 Sysco Corp. Stock Chart
SYY Stock Chart
 Sysco Corp. Stock News
SYY Stock News
 Sysco Corp. Company Information
SYY Company Information
 Sysco Corp. Stock Trades
SYY Stock Trades

Sysco's Fiscal 2Q Profit Rises 13% On Prior-Year Charges

DOW JONES NEWSWIRES Sysco Corp.'s (SYY) fiscal second-quarter earnings rose 13% on prior-year charges as revenue declined, though food costs also dropped. "While the business environment remains challenging, deflation pressures appear to be moderating from highs we saw early in the quarter and case volume trends continue to improve," said Chief Executive Bill DeLaney. North America's largest marketer and distributor of foodservice products found a bright spot in the mostly resilient fast-food sector as consumers trade down to less-expensive eateries and dine out less overall. The company, which derives about 65% of its sales from restaurants, has been building up its sales force after several years of trimming and plans to continue buying up struggling rivals. For the quarter ended Dec. 26, Sysco reported a profit of $268.3 million, or 45 cents a share, up from $237.7 million, or 40 cents a share, a year earlier. The latest period included a penny of benefit from corporate-owned life insurance, while the prior year included 5 cents a share in losses from the life insurance program. Revenue decreased 3.1% to $8.87 billion, helped in part by a small boost from acquisitions. Analysts polled by Thomson Reuters forecast earnings of 42 cents a share on revenue of $8.83 billion. Gross margin was flat at 19.1%. The company said capital expenditures have totaled $248 million so far this fiscal year. Sysco expects $600 million to $650 million for the year. Shares closed Friday at $27.99 and were inactive premarket. -By Tess Stynes and Nathan Becker, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com;

Stock News for Sysco (SYY)
DateTimeHeadline
03/27/201507:41:39Market Is Not Out Of The Woods Yet - Cramer's Mad Money (3/26/15)
03/25/201502:54:31Stocks Going Ex-Dividend The Fifth Week Of March
03/23/201515:00:00Sysco Launches Second "Share My Plate" Instagram Promotion; Every...
03/15/201507:02:41Sysco: Company May Succeed Against FTC Objection To US Foods...
03/09/201509:13:06Sysco Extends Merger Pact With U.S. Foods to May
03/09/201508:02:56Current Report Filing (8-k)
03/04/201518:52:15Judge Sets Date for Hearings in U.S. Foods-Sysco Antitrust Suit
03/03/201521:11:15Here's Some Old-Fashioned, Reliable Dividend Growth
03/02/201522:22:57Ward's Dividend Heat Map Vol. 1: Dividend Champion Consumer Staples...
03/02/201510:43:05Sysco to Webcast Presentation From the J.P. Morgan Gaming, Lodging...
03/01/201505:02:23Some Companies Are More Wonderful Than Others
02/25/201515:53:25Buyout Shops Keep Skin in the Game
02/20/201508:47:52U.S. Stock Futures Lower
02/20/201507:12:24FTC Files Suit Challenging Sysco-US Foods Merger -- 3rd Update
02/20/201506:00:00Sysco Hosts Conference Call to Discuss FTC Action
02/19/201519:49:31FTC Files Suit Challenging Sysco-US Foods Merger -- 2nd Update
02/19/201516:08:50FTC Files Suit Challenging Sysco-US Foods Merger -- 2nd Update
02/19/201515:26:41Sysco to Contest Federal Trade Commission's Attempt to Block...
02/19/201514:54:09FTC Files Lawsuit Challenging Sysco-U.S. Foods Merger -- Update
02/19/201514:44:12FTC Files Lawsuit Challenging Sysco-US Foods Merger

Sysco and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad