HOUSTON (AP) — HOUSTON (AP) — Sysco Corp. (SYY) on Tuesday reported fiscal fourth-quarter net income of $551 million.
The Houston-based company said it had net income of $1.15 per share. Earnings, adjusted for one-time gains and costs, came to $1.53 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.
The food distributor posted revenue of $22.12 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $21.92 billion.
For the year, the company reported profit of $1.76 billion, or $3.66 per share. Revenue was reported as $84.55 billion.
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