Dive Brief:
- Sysco reported second quarter 2015 earnings that were on track with analysts' estimates, as adjusted earnings increased 5.1% year over year to 41 cents.
- Q2 sales increased 7.6% to $12.1 billion, and gross profit saw an uptick of 6.1% to $2.1 billion.
- Sysco also discussed the divestiture of 11 US Foods distribution centers in the pursuit of merging with the company.
Dive Insight:
In its previous quarter, Sysco reported decreased net income but higher sales, which beat Wall Street estimates. The US Foods merger has been in the thick of regulatory negotiations for awhile now, and only time will tell how long it will be until approval comes along.