Sysco Corporation (SYY Quick QuoteSYY - Free Report) , distributor of food and related products, released third-quarter fiscal 2018 results, wherein adjusted earnings of 67 cents a share surpassed the Zacks Consensus Estimate of 64 cents. Moreover, the bottom line surged 31.4% from the year-ago quarter.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has witnessed a downtrend in the last 30 days. If we look at Sysco’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 1.1%.

Sysco Corporation Price, Consensus and EPS Surprise

Sysco Corporation Price, Consensus and EPS Surprise | Sysco Corporation Quote

Revenue: Sysco generated net sales of $14,349.5 million that improved 6.1% year over year. However, top line lagged the Zacks Consensus Estimate of $14,382 million. Results were driven by strength in both U.S. and International Foodservice Operations.

Zacks Rank: Currently, Sysco has a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Stock Movement: Shares increased nearly 2% during pre-market trading hours following the third-quarter fiscal 2018 earnings beat.

Check back later for our full write up on this SYY earnings report later!

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