HOUSTON (AP) — HOUSTON (AP) — Sysco Corp. (SYY) on Tuesday reported fiscal fourth-quarter earnings of $531 million.
On a per-share basis, the Houston-based company said it had net income of $1.10. Earnings, adjusted for one-time gains and costs, were $1.48 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.
The food distributor posted revenue of $21.14 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $21 billion.
For the year, the company reported profit of $1.83 billion, or $3.73 per share. Revenue was reported as $81.37 billion.
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