Dividend.com: Sysco Hungry for Gains

Sysco Misses Revenue Expectations; Shares Hold Steady

Shares of Sysco Foods(SYY Quote) are up nearly 5%, despite the company seeing a 10% drop in second-quarter profit to $237.7 million, or 40 cents a share, compared with $264.1 million, or 43 cents a share, a year earlier.

The food distributor reported revenue of $9.15 billion for the quarter, which came in below analyst expectations of $9.21 billion. Management reported food costs rose by about 7% in the second quarter, while expenses related to life insurance and pension matters contributed to an increase of about $9.5 million in operating expenses. ...