« Arnold Kling on the Bond Bubble | Main | Thoughts on Next Year’s Buy List »

This morning, Sysco (SYY) reported fiscal Q1 EPS of 46 cents, one penny ahead of expectations. The results don’t include an 11-cent tax benefit.

I like Sysco’s business because it’s remarkably stable. However, this is the fourth straight year-over-year decline for Sysco. In the comparable quarter from last year, they made 45 cents a share, so the decline isn’t that much.

Since the earnings declines have been getting smaller, I think it’s very likely that this will be the last one. The stock is reasonably well-priced though it’s not an outrageous bargain.

Posted by edelfenbein at November 2, 2009 10:55 AM