Food distribution giant Sysco Corp. (SYY) posted a drop in third-quarter net earnings to $201.42 million, or $0.34 a share, from $259.55 million, or $0.44 a share reproted a year back.
Adjusting for items, mainly relating to a multi-employer pension plan withdrawal, third-quarter non-GAAP earnings per share totaled $0.40. After further adjusting for business transformation expenses, to reflect the performance of the company's underlying business, adjusted per-share earnings were $0.49 in the recent period. On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.43 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly sales reached $10.9 billion, up 4.0%, compared with the prior-year quarter's $10.5 billion, while it missed consensus estimates of $11.10 billion.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.