Meat costs crimp Sysco EPS

Investor's Business Daily

The supplier of food to hotels, hospitals and other institutions posted adjusted fiscal Q2 EPS of 40 cents, down 7% from a year ago and a penny shy of analysts' views. Factoring out costs associated with Sysco's (SYY) restructuring, EPS would have been 49 cents, it said. Revenue climbed 5% to $10.8 bil, just over views. Food cost inflation was 2.5%, driven mostly by poultry and other meat categories. Shares fell 2.7% to 31.23.

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