Sysco Posts Mixed Q1 Results

The company's earnings fell short of Wall Street forecasts.

I Stock 1383729036

HOUSTON (AP) -- Sysco Corp on Tuesday reported fiscal first-quarter earnings of $465.6 million.

The Houston-based company said it had net income of 91 cents per share. Earnings, adjusted for one-time gains and costs, came to 97 cents per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.

The food distributor posted revenue of $19.13 billion in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $18.63 billion.

Sysco expects full-year earnings in the range of $4.09 to $4.39 per share.

More in Supply Chain