Sysco Corp. Q1 Profit Increases, beats estimates

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

The company's earnings totaled $503.39 million, or $0.99 per share. This compares with $465.57 million, or $0.91 per share, in last year's first quarter.

Excluding items, Sysco Corp. reported adjusted earnings of $541.61 million or $1.07 per share for the period.

Analysts on average had expected the company to earn $1.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.6% to $19.62 billion from $19.13 billion last year.

Sysco Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $503.39 Mln. vs. $465.57 Mln. last year. -EPS (Q1): $0.99 vs. $0.91 last year. -Analyst Estimate: $1.04 -Revenue (Q1): $19.62 Bln vs. $19.13 Bln last year.

-Guidance: Full year EPS guidance: $4.20 to $4.40