Sysco Reports Third Quarter Fiscal 2015 Financial Results, Sales Increase 4.2%

HOUSTON, May 4, 2015 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced financial results for its 13-week third fiscal quarter ended March 28, 2015. Financial comparisons presented below are compared to the same period in the prior year. Adjusted financial results exclude certain items that, in fiscal 2015, are primarily related to merger and integration expenses. A reconciliation of non-GAAP measures is included below.

Third Quarter Fiscal 2015 Highlights

• Sales increased 4.2% to $11.7 billion;
• Gross profit increased 3.1% to $2.1 billion; gross margin decreased 17 basis points to 17.52%;
• Adjusted operating income decreased 2.7% to $377 million;
• Operating income decreased 1.6% to $327 million;
• Adjusted diluted earnings per share (EPS) increased 5.3% to $0.40; and
• Diluted EPS decreased 3.2% to $0.30.

First 39 Weeks Fiscal 2015 Highlights

• Sales increased 6.0% to $36.3 billion;
• Gross profit increased 5.1% to $6.3 billion; gross margin decreased 15 basis points to 17.45%;
• Adjusted operating income increased 2.4% to $1.3 billion;
• Operating income decreased 4.7% to $1.1 billion;
• Adjusted diluted EPS increased 5.6% to $1.33; and
• Diluted EPS decreased 10.4% to $1.03.

View the full report here.