Research · Sep 3, 2026
[SYY] Sysco Thesis 2026: International Operating Income Leads Group Toward Sales Target
Sysco FY25 (Jun 28, 2025 FYE) at $81.37B revenue (+3%). NI $1.83B; EPS $3.73 (-4%). Q4 sales $21.1B (+2.8% reported / +3.7% ex-Mexico); adj EPS $1.48 (+6.5%). US local case -1.5% Q4 (200bp better than Q3); International +8.3% ex-Mexico, +20.1% adj OI (7 consecutive Q DD growth). FY26 guide: revenue $84-$85B (+3-5%); adj EPS $4.50-$4.60 (+1-3%); $1B dividend + $1B buyback; target 2.5x net leverage.