Sysco reports first quarter fiscal 2019 results

Sysco Corporation announced financial results for its 13-week first fiscal quarter ended September 29, 2018.

First Quarter Fiscal 2019 Highlights:

• Sales increased 3.9% to $15.2 billion.

• Gross profit increased 3.9% to $2.9 billion; gross margin increased 2 basis points.

• Operating income increased 1.4% to $628.1 million; adjusted¹ operating income increased 5.1% to $691.7 million.

• EPS increased $0.12 to $0.81; adjusted¹ EPS increased $0.17 to $0.91.

“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.”

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