-=Sysco Corp. (SYY) reported earnings on Mon 5 Nov 2018 (b/o)

Sysco misses by $0.01, misses on revs 

Reports Q1 (Sep) earnings of $0.91 per share, excluding non-recurring items, $0.01 worse than the S&P Capital IQ Consensus of $0.92; revenues rose 3.9% year/year to $15.22 bln vs the $15.39 bln S&P Capital IQ Consensus.

Gross margin decreased 7 basis points to 20.1%, compared to the prior year period. Food cost inflation declined year-over-year to 0.1% in U.S. Broadline, primarily driven by deflation in the meat, poultry and produce categories.

"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."