Sysco Corp. Q3 Profit Increases, but misses estimates

(RTTNews) - Sysco Corp. (SYY) revealed a profit for its third quarter that increased from last year but missed the Street estimates.

The company's bottom line came in at $429.60 million, or $0.84 per share. This compares with $303.33 million, or $0.59 per share, in last year's third quarter.

Excluding items, Sysco Corp. reported adjusted earnings of $460.52 million or $0.90 per share for the period.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.7% to $18.88 billion from $16.90 billion last year.

Sysco Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $429.60 Mln. vs. $303.33 Mln. last year. -EPS (Q3): $0.84 vs. $0.59 last year. -Analyst Estimate: $0.92 -Revenue (Q3): $18.88 Bln vs. $16.90 Bln last year.