Sysco Q1 FY27: sales up 2.8%, adjusted EPS $1.19 just below consensus
Sysco's fiscal 2027 first quarter was a solid quarter on volume and a whisker of a miss on adjusted earnings: $1.19 versus a $1.2039 consensus. Sales rose 2.8% to $21.74 billion and gross margin widened to 18.6%, yet GAAP operating income fell 10.4% as Jetro-related costs bit. Read the adjusted lines for the underlying business and the GAAP lines for the deal.
1 · Expected vs. Actual
Free preview belowAdjusted EPS came in at $1.19, up 3.5%, against a $1.2039 consensus — short by about $0.01, or roughly 1.2%. GAAP EPS of $1.09 looks better than the underlying business does, because it carries a $234 million gain on deal-contingent rate locks tied to the Jetro purchase that the adjusted figure strips out alongside $102 million of restructuring and transformation costs and $108 million of acquisition costs. Strip it all out and adjusted operating income still grew only 3.2% to $927 million.
Sales rose 2.8% to $21.74 billion, with U.S. Foodservice up 2.4% to $15.14 billion and International up 5.1% to $4.17 billion, or 6.0% in constant currency. Growth is volume-led rather than price-led: local U.S. case volume rose 2.7% while total enterprise product cost inflation was only 0.3%. Gross margin added 18 basis points to 18.6%, so gross profit grew faster than sales at 3.8% to $4.05 billion. No revenue consensus was supplied, so the top line cannot be graded against expectations here.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-04
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