Skip to content
AnalystLens

Sysco 8-K Report, Financial Results (Jan 27, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed January 27, 2026
Period End
January 27, 2026
Security
SYY
In the record · 2016–202610-K1210-Q328-K147

SYY filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 147 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’18Mar ’18
  2. Material agreement8-K · May ’20May ’20
  3. Leadership change8-K · Mar ’23Mar ’23
  4. Leadership change8-K · Mar ’25Mar ’25

01—Abstract

Summary

Summary of the 8-K filed January 27, 2026. Cited figures are marked; the original filing is the authoritative source.

Sysco Corporation (NYSE: SYY) furnished an 8-K on January 27, 2026 under Item 2.02 attaching a press release reporting results for its second quarter of fiscal year 2026, which ended December 27, 2025.

Sales rose 3.0% to $20.8 billiona, gross profit rose 3.9% to $3.8 billion, and gross margin widened 15 basis points to 18.3%. GAAP operating income fell 2.8% to $692 million and GAAP net earnings fell 4.2% to $389 million, or $0.81 per diluted share. On an adjusted basis, operating income rose 3.1% to $807 million, adjusted net earnings rose 3.9% to $476 million, and adjusted EPS rose 6.5% to $0.99.

U.S. Foodservice local case volume increased 1.2%, and management said USFS local case volume is now positive. Management stated it now expects full-year adjusted EPS at the high end of its previous guidance range of $4.50 to $4.60b. The CFO said this outlook includes an approximate $100 million ($0.16 per diluted share) headwind from lapping lower incentive compensation in fiscal 2025, and that adjusted EPS growth for FY26 is expected at approximately 5% to 7%, in line with the long-term financial algorithm.

Management also said it expects at least 2.5% local case growth in the second half of the fiscal year. Balance sheet and cash flow metrics in the release include cash of $1.2 billionc, total liquidity of $2.9 billion, a debt-to-net-earnings ratio of approximately 7.6 times, and a net debt to adjusted EBITDA ratio of approximately 2.9 times. For the first 26 weeks, operating cash flow was $611 million, free cash flow was $413 million, and dividends paid totaled $518 million.

02—Key points

Key Highlights

  1. Sales increased 3.0% to $20.8 billion; gross margin rose 15 basis points to 18.3%, driven by product cost management and strategic sourcing.
  2. U.S. Foodservice local case volume increased 1.2% and total case volume increased 0.8%, with management stating USFS local case volume is now positive.
  3. GAAP operating income declined 2.8% to $692 million and GAAP diluted EPS declined 1.2% to $0.81; adjusted operating income rose 3.1% to $807 million and adjusted diluted EPS rose 6.5% to $0.99.
  4. Full-year adjusted EPS now expected at the high end of the previous $4.50 to $4.60 guidance range, with management citing confidence in at least 2.5% local case growth in the second half.
  5. International Foodservice sales rose 7.3% to $4.0 billion, with operating income up 23.2% to $117 million on a GAAP basis.
  6. Operating expenses rose 5.5% to $3.1 billion, reflecting sales headcount and capacity investments and lapping prior-year incentive compensation.
  7. Net debt to adjusted EBITDA was approximately 2.9 times, with cash of $1.2 billion and total liquidity of $2.9 billion; dividends paid were $518 million over the first 26 weeks.

03—Questions

Frequently Asked Questions

  1. How did Sysco perform in the second quarter of fiscal 2026?

    Sales rose 3.0% to $20.8 billion and gross profit rose 3.9% to $3.8 billion. GAAP operating income fell 2.8% to $692 million and GAAP net earnings fell 4.2% to $389 million. Adjusted operating income rose 3.1% to $807 million and adjusted EPS rose 6.5% to $0.99.

  2. What did management say about full-year guidance?

    Management expects full-year adjusted EPS at the high end of the previous $4.50 to $4.60 range. The CFO said adjusted EPS growth for FY26 is expected at approximately 5% to 7%, in line with the long-term financial algorithm, and that this outlook includes an approximate $100 million ($0.16 per diluted share) headwind from lapping lower incentive compensation in fiscal 2025.

  3. How is U.S. Foodservice volume trending?

    U.S. Foodservice total case volume increased 0.8% and local case volume increased 1.2% in the quarter. Management said local case volume is now positive, marked the third consecutive quarter of sequentially improving local case growth, and expects at least 2.5% local case growth in the second half of the fiscal year.

  4. What is Sysco's balance sheet and cash flow position?

    At quarter end, Sysco had cash of $1.2 billion and total liquidity of $2.9 billion. Debt to net earnings was approximately 7.6 times and net debt to adjusted EBITDA was approximately 2.9 times. For the first 26 weeks, operating cash flow was $611 million, free cash flow was $413 million, and dividends paid were $518 million.

  5. Why did GAAP earnings decline while adjusted earnings grew?

    The release adjusts results to exclude restructuring and transformation project costs and acquisition-related costs. In the quarter, those items totaled $57 million in restructuring and transformational project costs and $58 million in acquisition-related costs at the operating income level, which reduced GAAP operating income to $692 million from $807 million on an adjusted basis.

04—Continue

← View all 8-K filings