SYY Sysco Corp

Sysco Corp. said profit, revenue and volumes all rose in its latest quarter.

Results easily beat expectations, and shares rose 4.4% to $54.50 in premarket trading.

In its fourth quarter, Sysco's domestic case volume grew 10.2% as sales volume rose 10.3% among smaller, local restaurants. It has faced competition recently from smaller, specialty distributors and wholesale stores.

Sysco is one of the largest food and supplies distributors and serves restaurants, hospitals and schools in the U.S.

In all for the quarter, Sysco earned $215.7 million, or 38 cents a share, up from $73 million, or 12 cents a share, a year prior.

Excluding restructuring costs and other items, adjusted earnings rose to 64 cents a share from 52 cents. The number of shares outstanding fell 5.2% in the quarter, boosting per-share earnings.

Revenue rose 10% to $13.7 billion.

Analysts had projected 61 cents in adjusted earnings per share on $13.68 billion in revenue, according to Thomson Reuters.

Gross margin improved to 18.34% from 17.90%.

Food deflation was 1.2% with deflation in meat and dairy being partially offset by inflation in other categories.

Write to Austen Hufford at austen.hufford@wsj.com

(END) Dow Jones Newswires

August 15, 2016 09:15 ET (13:15 GMT)

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