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Sysco (SYY) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Nov 4, 2026 · Sysco (SYY) Q1 FY27 earnings results →

Q1 FY27 Revenue up 3% year over year to $21.7B · 2¢ of every $1 of revenue kept as net profit · operating margin 3.3%

Sysco made $21.7B in Q1 FY27 (+3% Y/Y): Fresh and frozen meats $4.4B, Canned and dry products $4.0B, Frozen fruits, vegetables, bakery and other $3.3B. Operating margin 3.3%, net earnings $526M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$21.7B
Year over year+3%
Operating margin3.3%
Net earnings$526M
Operating cash flow$278M

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Sysco Q1 FY27 revenue breakdown: Sankey diagram of revenue (Fresh and frozen meats, Canned and dry products, Frozen fruits, vegetables, bakery and other, Dairy products), costs, profit and cash flow
Sysco Q1 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $21.7B in Q1 FY27, up 3% year over year and down 2% from the previous quarter. Fresh and frozen meats was the largest line at 20% of revenue. Fresh and frozen meats added $0.23B year over year (up 5%), 38% of the total change. Poultry declined 7%.

Gross margin was 18.6%, up 0.2 points from Q1 FY26. Operating profit was $0.72B, a 3.3% margin (down 0.5 points year over year). Operating profit fell $0.08B even though revenue rose $0.60B versus Q1 FY26, so costs grew faster than sales. Operating expenses grew 8% against revenue growth of 3%. Net earnings were $0.53B, up 11% year over year. The effective tax rate was 23.4%.

Operating cash flow was $0.28B (up 223% year over year), 53% of net earnings. Non-cash charges added back $0.26B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.54B. Capital expenditures of $0.10B left free cash flow of $0.18B.

Quarterly history

Sysco revenue by quarterSysco revenue by quarter$19.6BQ3 FY25$21.1BQ4 FY25$21.1BQ1 FY26$20.8BQ2 FY26$20.5BQ3 FY26$22.1BQ4 FY26$21.7BQ1 FY27
Sysco net earnings by quarterSysco net earnings by quarter$401MQ3 FY25$531MQ4 FY25$476MQ1 FY26$389MQ2 FY26$340MQ3 FY26$551MQ4 FY26$526MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QNov 4, 2026$21.7B+3%3.3%$526M$278M
Q4 FY2610-KAug 21, 2026$22.1B+5%4.4%$551M$1.2B
Q3 FY2610-QApr 29, 2026$20.5B+5%3.0%$340M$852M
Q2 FY2610-QJan 28, 2026$20.8B+3%3.3%$389M$525M
Q1 FY2610-QOct 29, 2025$21.1B+3%3.8%$476M$86.0M
Q4 FY2510-KAug 22, 2025$21.1B+3%4.2%$531M$1.2B
Q3 FY2510-QApr 30, 2025$19.6B+1%3.5%$401M$819M

Charts

Sysco: revenue growth, year over year and quarter over quarterSysco: revenue growth, year over year and quarter over quarterY/YQ/Q+1%Q3 FY25+3%+8%Q4 FY25+3%+0%Q1 FY26+3%-2%Q2 FY26+5%-1%Q3 FY26+5%+8%Q4 FY26+3%-2%Q1 FY27
Latest (Q1 FY27): Y/Y +3%, Q/Q -2%.
Sysco: where the cash came from (+) and went (−), TTM to Q1 FY27Sysco: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow$2.8BCash drawn (+) / kept (−)−$2.2BDividends−$1.0BOther financing$651MCapital spending−$637MNet borrowing (+) / repaid (−)$446MOther investing−$326MAsset & business sales$201MShares issued$131MExchange rates−$11.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Sysco: profit against cash, quarter by quarterSysco: profit against cash, quarter by quarterNet incomeOperating cash flow$406M$445MQ2 FY25$401M$819MQ3 FY25$531M$1.2BQ4 FY25$476M$86.0MQ1 FY26$389M$525MQ2 FY26$340M$852MQ3 FY26$551M$1.2BQ4 FY26$526M$278MQ1 FY27
Latest (Q1 FY27): Net income $526M, Operating cash flow $278M.
Sysco: diluted shares by fiscal yearSysco: diluted shares by fiscal year514MFY21514MFY22510MFY23503MFY24490MFY25481MFY26
-6.4% since FY21: buybacks shrank the count.
Sysco: long-term debt falling due (FY26)Sysco: long-term debt falling due (FY26)$1.0B2027$750M2028$655M2029$1.5B2030$700M2031
Cash $1.8B, short-term investments $18.0M, long-term debt — at 2026-06-27.
Sysco in its industry: growth against margin (5 companies, SIC 5140)Sysco in its industry: growth against margin (5 companies, SIC 5140)revenue growth, year over year →↑ operating marginmedian +3%median 4%USFDDPZHFFGRAVESYY (+3%, 3%)
Wholesale-Groceries & Related Products; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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🔄Rotation against the market and its industry (RRG)interactive

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📈Investments: gains and what it boughtinteractive

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Customers and suppliers named in filings

Sells to

About Sysco

Unless this Form 10-K indicates otherwise or the context otherwise requires, the terms “we,” “our,” “us,” “Sysco,” or the “company” as used in this Form 10-K refer to Sysco Corporation together with its consolidated subsidiaries and divisions. Sysco Corporation is the global leader in selling, marketing and distributing food and related products to customers who prepare meals away from home. This includes restaurants, healthcare and educational facilities, lodging establishments, entertainment venues, and more.

In its own words, from its 10-K, filed Aug 21, 2026.

Sysco against its Wholesale-Groceries & Related Products peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +3%. Operating margin: 3.3% against the peers' median 3.6%.

CompanyQuarterRevenueY/YOp. margin
SYY SyscoQ1 FY27$21.7B+3%3.3%
USFD US Foods HoldingQ3 2026$10.4B+2%3.6%
DPZ Dominos PizzaQ3 2026$1.2B+3%20.4%
HFFG HF Foods GroupQ2 2026$324M+3%0.9%
RAVE Rave Restaurant GroupQ4 FY26$3.4M+9%29.8%

Source: Sysco 10-Q on SEC EDGAR · CIK 96021 · Wholesale-Groceries & Related Products

Guidance and outlook

Sysco: what its forward-looking statements are about (10-Q filed 2026-11-04)Sysco: what its forward-looking statements are about (10-Q filed 2026-11-04)Costs6Other4Demand4Margins2Buybacks & dividends2People1The economy1Deals1
21 statements; tone +0.48 (−1 all cautious, +1 all confident); 6 hedged.
Sysco: outlook statements against the filing beforeSysco: outlook statements against the filing beforeNew8Dropped35Confident11Cautious1

13F: who owns SYY and who is buying

Largest holders of SYY (13F)Largest holders of SYY (13F)Vanguard Group$4.6BBlackRock$3.6BVanguard Capital Management LLC$2.6BState Street$2.3BVanguard Portfolio Management LLC$2.3BHarris Associates L P$1.4BGeode Capital Management, LLC$1.1BGoldman Sachs Group$856MInvesco$615MBoston Partners$517M
Funds' net buying of SYY by quarter (13F)Funds' net buying of SYY by quarter (13F)$49.7M2024-09$151M2024-12−$394M2025-03−$53.8M2025-06−$343M2025-09$64.2M2025-12−$571M2026-03$481M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SYY

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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中文版：Sysco（SYY）财报

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