Sysco Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended April 1, 2017. For the quarter, the company reported sales of $13,524,172,000 compared to $12,002,791,000 a year ago. Operating income was $435,962,000 compared to $377,618,000 a year ago. Earnings before income taxes were $359,773,000 compared to $326,871,000 a year ago. Net earnings were $238,278,000 or $0.44 per basic and diluted share compared to $217,136,000 or $0.38 per basic and diluted share a year ago. Operating income adjusted for certain items (Non-GAAP) was $437,647,000 against $377,282,000 a year ago. Net earnings adjusted for certain items (Non-GAAP) were $261,356,000 against $237,618,000 a year ago. Diluted EPS adjusted for certain items (Non-GAAP) was $0.46 against $0.40 a year ago.

For the nine months, the company reported sales of $40,950,094,000 compared to $36,719,028,000 a year ago. Operating income was $1,495,212,000 compared to $1,303,675,000 a year ago. Earnings before income taxes were $1,282,705,000 compared to $1,101,790,000 a year ago. Net earnings were $837,332,000 or $1.52 per diluted share compared to $733,955,000 or $1.26 per diluted share a year ago. Net cash provided by operating activities was $1,024,775,000 compared to $988,981,000 a year ago. Additions to plant and equipment were $413,776,000 compared to $360,883,000 a year ago. Operating income adjusted for certain items (Non-GAAP) was $6,112,915,000 against $5,156,644,000 a year ago. Net earnings adjusted for certain items (Non-GAAP) were $970,767,000 against $848,474,000 a year ago. Diluted EPS adjusted for certain items (Non-GAAP) was $1.76 against $1.46 a year ago. Capital expenditures, net of proceeds from sales of plant and equipment, totaled $395 million for the first 39 weeks of fiscal 2017, which was $46 million higher compared to the same period last year. Cash flow from operations was $1.0 billion, which was $36 million higher compared to the same period last year. Free cash flow was $630 million, which was $11 million lower compared to the same period last year. These changes are largely due to improved business performance, improved working capital and favorable year-over-year comparisons due to the US Foods termination payment last year, offset by higher cash taxes from deductions related to the US Foods settlement and a deferral from flood relief. Net CapEx for the first 39 weeks was $395 million.

The company expects total CapEx for Fiscal Year 2017 to be in the range of approximately 1% to 1.1% of total sales, slightly above previous guidance.