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SYSCO down 6% on earnings miss

Nov. 05, 2018 8:28 AM ETSysco Corporation (SYY) StockBy: Niloofer Shaikh, SA News Editor11 Comments
  • Sysco (NYSE:SYY) reports U.S. foodservice operations sales rose 5.6% to $10.4B in Q1.
  • International foodservice operations grew 0.6% to $2.9B.
  • Local case volume within U.S. Broadline operations up 5.2% and total case volume soar 5.7%.
  • SYGMA sales fell 1.2% to $1.62B.
  • Gross margin rate +2 bps to 19.08%.
  • Adjusted operating margin rate flat at 4.5%.
  • “Our top-line results for the first quarter were solid, particularly in our U.S. Foodservice segment,” said Tom Bené, Sysco’s president and chief executive officer. “We continue to see expense challenges in the warehouse and transportation areas of our supply chain, which we anticipate will persist. We remain focused on the execution of our strategic priorities, which we believe will serve as the roadmap for additional growth and value creation.”
  • SYY -6.02% premarket.
  • Previously: Sysco misses by $0.01, misses on revenue (Nov. 5)

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