Sysco posts higher results, shares up
Food distributor Sysco Corp
Sysco, which distributes food products to restaurants, healthcare and educational facilities and other customers who prepare meals away from home, posted a third-quarter net income of $258.5 million, or 44 cents a share, compared with $247.6 million, or 42 cents a share, a year ago.
Third-quarter results included a charge of 4 cents a share, related to the withdrawal of an operating company from a multi-employer pension plan.
Sales rose 9 percent to $9.76 billion.
Analysts on average had expected earnings of 41 cents a share, before special items, on revenue of $9.48 billion, according to Thomson Reuters I/B/E/S.
Shares of the company were up 4 percent at $29.76 before the bell. They closed at $28.51 on Friday on the New York Stock Exchange.
(Reporting by Mihir Dalal in Bangalore; Editing by Don Sebastian)
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