Filing Flows › Sysco (SYY) › Q2 FY26
Sysco (SYY) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jan 28, 2026
Sysco (SYY) reported revenue of $20.8B for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and -2% from the quarter before. Operating margin was 3.3%, net earnings $389M (1.9% of revenue).
Sysco, Q2 FY26: revenue $20.8B (+3% year over year), operating margin 3.3%, net earnings $389M, operating cash flow $525M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.8B | -2% | +3% |
| Gross profit | $3.8B | -3% | +4% |
| Operating profit | $692M | -14% | -3% |
| Net earnings | $389M | -18% | -4% |
| Operating cash flow | $525M | +510% | +18% |
| Free cash flow | $385M | — | +65% |
What changed
Revenue was $20.8B in Q2 FY26, up 3% year over year and down 2% from the previous quarter. Fresh and frozen meats was the largest line at 21% of revenue. Fresh and frozen meats added $0.51B year over year (up 13%), 83% of the total change. Dairy products declined 5%.
Gross margin was 18.3%, up 0.2 points from a year earlier. Operating profit was $0.69B, a 3.3% margin (down 0.2 points year over year). Operating profit fell $0.02B even though revenue rose $0.61B versus a year earlier, so costs grew faster than sales. Operating expenses grew 6% against revenue growth of 3%. Net earnings were $0.39B, down 4% year over year. The effective tax rate was 23.7%.
Operating cash flow was $0.53B (up 18% year over year), 135% of net earnings. Non-cash charges added back $0.24B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.14B. Capital expenditures of $0.14B left free cash flow of $0.39B.
Questions
What was Sysco's revenue in the second quarter fiscal 2026?
Sysco (SYY) reported revenue of $20.8B for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and -2% from the quarter before.
Was Sysco profitable in the second quarter fiscal 2026?
Operating profit was $692M (3.3% of revenue) and net earnings $389M.
Source: Sysco 10-Q on SEC EDGAR.