Sysco: Fiscal 1Q Earnings Snapshot
HOUSTON (AP) _ Sysco Corp. (SYY) on Monday reported fiscal first-quarter profit of $453.8 million.
On a per-share basis, the Houston-based company said it had profit of 87 cents. Earnings, adjusted for one-time gains and costs, came to 98 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.
The food distributor posted revenue of $15.3 billion in the period.
Sysco shares have increased 30% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 22%. The stock has risen 14% in the last 12 months.