SYY Sysco Corp

By Carlo Martuscelli

Sysco Corp. (SYY) on Monday reported a 3.3% rise in fiscal second quarter net income as sales increased, and said it remained confident of meeting its full-year financial targets.

The Houston-based food service company earned a quarterly profit of $284.1 million, or 54 cents a diluted share, compared with $275.2 million, or 50 cents, for the same period last year. The company reported adjusted earnings of 78 cents a share, and further adjusting for a one-time benefit from the U.S. tax law change, 66 cents a share.

Analysts expected a profit of $334 million, or 63 cents a share, according to FactSet.

Sales rose to $14.41 billion, from $13.46 billion. This compares with analysts forecasts of $14.15 billion according to FactSet.

"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," said Tom Bene, Sysco president and chief executive officer.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

February 05, 2018 09:40 ET (14:40 GMT)

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