Sysco Corp. Q3 Profit Increases, beats estimates

(RTTNews) - Sysco Corp. (SYY) announced a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $303.33 million, or $0.59 per share. This compares with $88.93 million, or $0.17 per share, in last year's third quarter.

Excluding items, Sysco Corp. reported adjusted earnings of $362.91 million or $0.71 per share for the period.

Analysts on average had expected the company to earn $0.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 43.0% to $16.90 billion from $11.82 billion last year.

Sysco Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $303.33 Mln. vs. $88.93 Mln. last year. -EPS (Q3): $0.59 vs. $0.17 last year. -Analyst Estimate: $0.55 -Revenue (Q3): $16.90 Bln vs. $11.82 Bln last year.

-Guidance: Full year EPS guidance: $3.16 - $3.26