Filing Flows › Sysco (SYY) › Q1 FY27 › vs Q4 FY26
Sysco (SYY) Q1 FY27 vs Q4 FY26 (quarter over quarter)
Sysco's revenue fell $380M (-2%) from $22.1B in Q4 FY26 to $21.7B in Q1 FY27. The biggest changes: Fresh produce −$209M (-11%); Fresh and frozen meats −$112M (-2%); Poultry −$44.0M (-2%). Gross margin 18.6% against 18.7% (-0.1 pts).
Sysco, Q1 FY27: revenue $21.7B (+3% year over year), operating margin 3.3%, net earnings $526M, operating cash flow $278M. The chart draws each line against Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Gross margin | 18.6% | 18.7% | -0.1 pts |
| Operating margin | 3.3% | 4.4% | -1.1 pts |
| Net margin | 2.4% | 2.5% | -0.1 pts |
| Free cash flow margin | 0.8% | 4.2% | -3.4 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Fresh and frozen meats | $4.4B | $4.5B | −$112M | -2% |
| Canned and dry products | $4.0B | $3.9B | $38.0M | +1% |
| Frozen fruits, vegetables, bakery and other | $3.3B | $3.3B | $5.0M | +0.2% |
| Dairy products | $2.1B | $2.1B | −$14.0M | -0.7% |
| Poultry | $2.0B | $2.0B | −$44.0M | -2% |
| Fresh produce | $1.7B | $1.9B | −$209M | -11% |
| Paper and disposables | $1.5B | $1.5B | $18.0M | +1% |
| Beverage products | $830M | $855M | −$25.0M | -3% |
| Seafood | $816M | $824M | −$8.0M | -1% |
| Other | $725M | $719M | $6.0M | +0.8% |
| Equipment and smallwares | $485M | $520M | −$35.0M | -7% |
| Revenue | $21.7B | $22.1B | −$380M | -2% |
| Gross profit | $4.1B | $4.1B | −$83.0M | -2% |
| Cost of revenue | $17.7B | $18.0B | −$297M | -2% |
| Operating profit | $717M | $983M | −$266M | -27% |
| Operating expenses | $3.3B | $3.2B | $183M | +6% |
| Pre-tax earnings | $687M | $720M | −$33.0M | -5% |
| Net earnings | $526M | $551M | −$25.0M | -5% |
| Income tax | $161M | $169M | −$8.0M | -5% |
| Operating cash sources | $816M | $826M | −$10.0M | -1% |
| Depreciation & amortization | $262M | $252M | $10.0M | +4% |
| Share-based compensation | $28.0M | $23.0M | $5.0M | +22% |
| Working capital & other | $538M | −$349M | $887M | — |
| Operating cash flow | $278M | $1.2B | −$897M | -76% |
| Free cash flow (OCF − capex) | $181M | $936M | −$755M | -81% |
| Capital expenditures | $97.0M | $239M | −$142M | -59% |
Questions
How much did Sysco's revenue grow quarter over quarter in Q1 FY27?
Sysco's revenue fell $380M (-2%) from $22.1B in Q4 FY26 to $21.7B in Q1 FY27.
What drove Sysco's revenue change in Q1 FY27?
Fresh produce −$209M (-11%); Fresh and frozen meats −$112M (-2%); Poultry −$44.0M (-2%).