SYSCO Corporation (NYSE:SYY) stock jumped on Monday after it released its earnings report for its fiscal first quarter of 2017.
SYSCO Corporation reported revenue of $14.0 billion for its fiscal first quarter of 2017. This is an increase over its revenue of $12.6 billion reported during the first fiscal quarter of 2016. It also came in above Wall Street’s revenue estimate of $13.88 billion for the quarter.
Earnings per share reported by SYSCO Corporation for its fiscal first quarter of 2017 was 67 cents. Earnings per share reported by the company during the same time last year were 52 cents. Analysts were looking for SYY to report earnings per share of 58 cents.
SYSCO Corporation reported operating income of $627 million for its fiscal first quarter of 2017. This represents an almost 24% increase over its operating income of $506 million reported in its fiscal first quarter of 2016.
SYSCO Corporation’s earnings report for its fiscal first quarter of 2017 was helped by its acquisition of Brakes. The acquisition added $1.3 billion to its revenue, 4 cents to its earnings per share and $43 million to operating income for the quarter.
Capital expenditures reported by SYSCO Corporation in its first fiscal quarter of 2017 were $138 million. This is up from the capital expenditures of $120 million from the same time in the year prior.
SYSCO Corporation said that cash flow from operations in its fiscal first quarter of 2017 was $249 million. This is a $510-million increase over cash flow from operations reported during SYY’s first fiscal quarter of 2016. Free cash flow for the quarter was $111 million, which is up $492 million from the same time last year.
SYY stock was up 9% as of Noon Monday.
