SYY
FY2026 Q3 · Calendar Q2 2026
Sysco Corporation
Sysco delivered its strongest local case volume growth in three years at 3.3%, with revenue up 4.7% to $20.5B, but the quarter was dominated by the announcement of a $29.1 billion acquisition of Jetro Restaurant Depot—a transformative deal that adds a cash-and-carry retail channel while pushing leverage to ~4.5x. Management reaffirmed FY26 adjusted EPS at the high end of $4.50-$4.60 and outlined a disciplined 24-month deleveraging path to 3.5x. The stock fell 2.6% on the report, reflecting deal-size and leverage concerns, but subsequently recovered +2.5%. With the current price of $85.32 still below the $91.00 consensus target, the market appears to be weighing execution risk against the strategic upside of the acquisition.
EPS surprise-0.5%
Market move-2.6%
