About Sysco
Key Financial Results (2Q 2026)
Sales increased 3.0%, U.S. Foodservice volume increased 0.8%, and U.S. local volumes increased 1.2%. Gross profit increased 3.9% to $3.8 billion.
Operating income decreased 2.8% to $692 million, and adjusted operating income increased 3.1% to $807 million. Net earnings decreased 4.2% to $389 million, and adjusted net earnings increased 3.9% to $476 million. EBITDA decreased 0.9% to $923 million, and adjusted EBITDA increased 3.3% to $1.0 billion. EPS decreased 1.2% to $0.81, and adjusted EPS increased 6.5% to $0.99.
Revenue & Volume Growth
Net sales of $20.8 billion, up 3.0% compared to the prior year period. U.S. Foodservice volume increased 0.8%, including 1.2% local volume growth. This is the third consecutive quarter of sequential improvement.
Profit & Margins
Gross profit of $3.8 billion, up 3.9%, with gross margin expanding 15 basis points to 18.3%. Operating income of $692 million, down 2.8%, though adjusted operating income was up 3.1% at $807 million. Net earnings of $389 million, a 4.2% decrease year-over-year, while adjusted net earnings rose 3.9% to $476 million. Adjusted EPS of $0.99, up 6.5% compared to the prior year, while GAAP EPS was $0.81.
Cash Flow & Shareholder Returns
Operating cash flow of $611 million for the first 26 weeks of the fiscal year. Free cash flow of $413 million. Sysco returned $518 million to shareholders via dividends in the first half of FY26.
Balance Sheet, Cash Flow, and Capital Spending
As of the end of the quarter, the company had a cash balance of $1.2 billion and total liquidity of $2.9 billion. Debt to net earnings was approximately 7.6 times, and net debt to adjusted EBITDA was approximately 2.9 times.
During the first 26 weeks of fiscal year 2026, Sysco returned $518 million to shareholders via dividends.
Cash flow from operations was $611 million and free cash flow was $413 million for the first 26 weeks of fiscal year 2026. Capital expenditures, net of proceeds from sales of plant and equipment, for the first 26 weeks of fiscal year 2026 were $198 million.
Outlook
Sysco now expects full-year adjusted EPS to land at the high end of its previous guidance range of $4.50 to $4.60.