Sysco Corp. Q2 Profit Decreases, misses estimates

Sysco Corp. (SYY) announced earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $141.22 million, or $0.28 per share. This compares with $167.44 million, or $0.33 per share, in last year's second quarter.

Excluding items, Sysco Corp. reported adjusted earnings of $407.92 million or $0.80 per share for the period.

Analysts on average had expected the company to earn $0.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.9% to $18.59 billion from $16.32 billion last year.

Sysco Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $141.22 Mln. vs. $167.44 Mln. last year.
-EPS (Q2): $0.28 vs. $0.33 last year.
-Analyst Estimates: $0.84
-Revenue (Q2): $18.59 Bln vs. $16.32 Bln last year.

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