Sysco Corp. Q2 Profit Increases, but misses estimates

Sysco Corp. (SYY) released a profit for its second quarter that increased from last year but missed the Street estimates.

The company's earnings came in at $167.44 million, or $0.33 per share. This compares with $67.29 million, or $0.13 per share, in last year's second quarter.

Excluding items, Sysco Corp. reported adjusted earnings of $291.94 million or $0.57 per share for the period.

Analysts on average had expected the company to earn $0.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 41.2% to $16.32 billion from $11.56 billion last year.

Sysco Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $167.44 Mln. vs. $67.29 Mln. last year.
-EPS (Q2): $0.33 vs. $0.13 last year.
-Analyst Estimate: $0.71
-Revenue (Q2): $16.32 Bln vs. $11.56 Bln last year.

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