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Sysco Reports on Q2 of FY 2017

  

Feb 17, 2017

    

In a press release dated February 6th Sysco (SYY) announced results for the 2nd Quarter of Fiscal 2017 ending December 31st 2016.

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as $ x 1,000 except EPS).

  

  

 2nd Quarter Ending  December 31st

2016

2015

Difference (%)

Sales:

$13,457,268

$12,153,626

+10.7

Gross profit:

$2,570,863

$2,153,626

+19.2

Operating income:             

$492,417

$432,583

+13.8

Net Income

         $275,167

$272,399

 

+1.0

Diluted earnings per share:

$0.50

$0.48

+4.2

Gross Margin (%)

19.1

17.7

+7.9

Operating Margin (%)

3.7

3.6

+2.8

Profit Margin (%)

2.0

2.2

-9.1

Long-term Debt:

$8,313,651

  $7,336,930

         +13.3

12 Months Trailing:

 

 

 

           Return on Assets    (%)

8.4

 

 

           Return on Equity    (%)

24.4

 

 

           Operating Margin   (%)

4.1

 

 

           Profit Margin          (%)

2.0

 

 

Total Assets

$17,630,066

$16,721,804

          +5.4

Market Capitalization

$28,000,000

 

          

 

52-Week Range in Share Price:          $42.05   to    $57.07

Market close Friday Feb. 3rd. $52.55.  Market close Monday Feb. 6th $51.20 (down 2.5%)

 

Forward P/E: 19.0

 

In commenting on results, Bill DeLaney, Sysco CEO stated “I am pleased with the quality of our second quarter performance, which was driven by disciplined volume growth and sound margin and expense management,” He added “we are encouraged by our consistently strong financial results over the past two years and are confident that our ongoing focus on supporting the needs of our customers positions us well for future success.”