Earnings To Watch: Sysco (SYY) Reports Q2 Results Tomorrow
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Food distribution giant Sysco ( NYSE:SYY ) will be reporting earnings this Tuesday before the bell. Here's what you need to know. Sysco met analysts' revenue expectations last quarter, reporting revenues of $20.52 billion, up 4.7% year on year. It was a mixed quarter for the company, with a miss of analysts' EBITDA estimates. Is Sysco a buy or sell going into earnings? Read our full analysis here, it's free for active Edge members. This quarter, the market is expecting Sysco's revenue to grow 3.8% year on year, in line with the 2.8% increase it recorded in the same quarter last year. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Sysco has missed Wall Street's revenue estimates multiple times over the last two years. Looking at Sysco's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. AMC Entertainment delivered year-on-year revenue growth of 14.2%, beating analysts' expectations by 8.7%, and Mohawk Industries reported revenues up 6.8%, topping estimates by 7.2%. AMC Entertainment traded up 13.4% following the results while Mohawk Industries was also up 3%. Read our full analysis of AMC Entertainment's results here and Mohawk Industries's results here. Over the...
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