Sysco Profit Matches Consensus, Sales Tops Estimate In Latest Quarter

By Ciara Linnane Markets MarketWatch Pulse

Food services company Sysco Corp. said Monday it had net income of $275.9 million, or 44 cents a share, in its fiscal third quarter to March 26, up from $217.1 million, or 38 cents a share, in the year-earlier period. Adjusted per-share earnings came to 51 cents, matching the FactSet consensus. Sales rose to $13.5 billion from $12.0 billion, ahead of the FactSet consensus of $13.1 billion. Sales were boosted by strength in the company's international food service operations, where they rose to $2.5 billion from $1.3 billion. Shares were slightly higher in premarket trade, but are down 0.1% in 2017 through Friday's close, while the S&P 500 has gained 7%.

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