Sysco Corp. Q1 adjusted earnings Beat Estimates

(RTTNews) - Sysco Corp. (SYY) announced a profit for first quarter that declined from the same period last year.

The company's bottom line came in at $216.90 million, or $0.42 per share. This compares with $453.78 million, or $0.87 per share, in last year's first quarter.

Excluding items, Sysco Corp. reported adjusted earnings of $173.45 million or $0.34 per share for the period.

Analysts had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 23.0% to $11.78 billion from $15.30 billion last year.

Sysco Corp. earnings at a glance:

-Earnings (Q1): $173.45 Mln. vs. $510.27 Mln. last year. -EPS (Q1): $0.34 vs. $0.98 last year. -Analysts Estimate: $0.24 -Revenue (Q1): $11.78 Bln vs. $15.30 Bln last year.