The Houston-based company reported net earnings of $535.8 million, or $1.03 a share, up from $448.9 million, or 85 cents a share, a year ago. Adjusted earnings were $1.10 a share, beating analysts' expectations of $1.07. Revenue totaled $15.47 billion, short of Wall Street's call for $15.62 billion.
Sales for the U.S. foodservice operations totaled $10.7 billion, up 2.8% from a year ago. Sales in the international foodservice operations totaled $2.9 billion, a decrease of 0.8% from a year ago. Foreign exchange rates hurt total Sysco sales during the quarter by 0.8%.
"Sysco saw improved year-over-year performance in the fourth quarter and fiscal year 2019," said Tom Bene, Sysco's chairman, president and CEO, in a statement. "We continue to focus on our customers and are furthering the progress of our transformative initiatives, which we believe will increase the ease of doing business with Sysco, position us well for the long-term and create value for our shareholders in fiscal year 2020 and beyond."
For the full year, earnings totaled $1.7 billion, or $3.20 a share, up about 17% from the previous year. Sales totaled $60.1 billion, up 2.4% from the prior year.
U.S. foodservice operations posted sales of $41.3 billion, an increase of 4.2% from the prior year. Sales in the international foodservice operations totaled $11.5 billion, down $25.5 million, or 0.2% from the prior year. Foreign exchange rates negatively affected total Sysco sales during the year by 0.8%.