Quarterly ResultApr 28, 2026, 08:04 AM
SYY Q3 Sales +4.7% to $20.5B; Adj. EPS $0.94; Local Volume +3.3%
AI Summary
Sysco Corporation reported strong third fiscal quarter 2026 results with sales increasing 4.7% to $20.5 billion and gross profit up 6.5% to $3.8 billion. U.S. local volumes grew 3.3%, the highest quarterly rate in over three years. While GAAP operating income and net earnings decreased, adjusted figures showed slight declines or flat performance, impacted by higher incentive compensation costs. The company reaffirmed confidence in delivering full-year adjusted EPS at the high end of its $4.50 to $4.60 guidance range and highlighted the pending Jetro Restaurant Depot acquisition.
Key Highlights
- Sales increased 4.7% to $20.5 billion in Q3 fiscal 2026.
- Gross profit rose 6.5% to $3.8 billion, with gross margin up 31 basis points to 18.6%.
- Adjusted EPS decreased 2.1% to $0.94, including a $0.10 impact from higher incentive compensation.
- U.S. Foodservice local case volume increased 3.3%, the highest quarterly rate in over three years.
- U.S. Foodservice Sales increased 3.1% to $14.2 billion; International Sales rose 12.4% to $3.9 billion.
- Year-to-date free cash flow increased 19% to $1.1 billion.
- Company expects full-year adjusted EPS at the high end of its $4.50 to $4.60 guidance range.
- Pending acquisition of Jetro Restaurant Depot is expected to close by Q3 fiscal 2027.