Shares of Sysco Corp. (SYY) - Get Report climbed 4.81% to $66.63 Monday after the food distributor beat Wall Street's second-quarter earnings expectations.

The Houston-based company reported net income of $267.4 million, or 51 cents a share, down from $284.1 million, or 54 cents a share a year ago. Adjusted earnings were 75 cents a share, beating analysts' expectations of 72 cents a share.

Sysco posted revenue of $14.77 billion, up from $14.4 billion a year ago. Sales at the company's U.S. foodservice operations rose 4.2% to $10.1 billion and international food sales operations increased 0.8% to $2.9 billion.

For the second half of fiscal 2019, the company said sales increased 3.2% to $30 billion.

Tom Bené, chairman, president and CEO, said in a statement that "we saw solid topline growth, while we continue making investments in our business, particularly in our international segment.

"We remain focused on exceeding our customers' expectations, while continuing to manage costs, and anticipate seeing additional benefit from our cost savings initiatives in the second half of this fiscal year," Bené said.

In order to drive continued growth and value creation, the company recently made organizational and executive leadership changes to streamline the business. The reorganization resulted in a roughly 10% reduction in salaried corporate support positions, Sysco said.

The company, which has more than 67,000 employees, said in December that the layoffs were "part of a national effort to streamline its business amid rising transportation and food costs."

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