Operating income rose 8.1% to $532M off a 7.1% increase in sales to $14.4B.
Gross margin came in at 18.7% of sales vs. 18.9% consensus.
Case growth was up 3.5% for U.S. broadline and 4.8% for the local business.
CEO update: "We are pleased with the continued momentum in our business driven by strong local case growth and overall top-line results, while balancing some gross profit dollar and expense challenges associated with the second quarter. We remain confident in our ability to deliver on our full-year fiscal 2018 financial targets."
Sysco expects a blended U.S. tax rate of 28% in FY18 and a 21% rate in FY19.
Previously: Sysco beats by $0.01, beats on revenue (Feb. 5)
SYY +0.52% premarket to $61.50.
Subscribe for full text news in your inbox