– Sysco Corporation (NYSE: SYY) reported adjusted earnings of $0.98 per for the first quarter of 2020, vs. $0.97 per share expected.
— Unadjusted net profit rose to $453.8 million or $0.87 per share from $431 million or $0.81 per share in the first quarter of 2019
— Net sales moved up 1% annually to $15.3 billion, vs. $15.51 billion expected
— U.S. Foodservice Operations sales rose 2.5%; International Foodservice Operations sales down 0.3%
ADVERTISEMENT
— First-quarter gross profit rose1.4% to $2.9 billion; gross margin was up 15 basis points
– Sysco shares closed the last trading session higher