Sysco Q4 Profit Drops - Quick Facts

(RTTNews) - Food distribution giant Sysco Corp. (SYY) posted lower fourth-quarter net earnings of $283.04 million, or $0.47 a share, compared with last year's $309.27 million, or $0.53 a share.

Adjusting for items, mainly relating to restructuring charges, quarterly non-GAAP earnings per share amounted to $0.50. After further adjusting for business transformation expenses, to reflect the performance of the company's underlying business, adjusted per-share earnings were $0.59 during the latest period. On average, 9 analysts polled by Thomson Reuters expected earnings per share of $0.54 for the quarter. Analysts' estimates typically exclude one-time items.

However, the firm clocked sales of $11.6 billion in the quarter, versus $11.05 billion in the prior-year period, whereas 8 analysts estimated revenues of $11.62 billion.