Sysco Corporation (SYY) Earnings: Q1 Fiscal 2027 Results and Next Report Date

The quarter ended September 26, 2026 and Sysco published the results on November 3, 2026. Revenue and diluted EPS are shown against Q1 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. Sysco reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Sysco's fiscal year ends on the Saturday nearest the end of June. Q1 fiscal 2027 is the 13 weeks ended September 26, 2026.
• Q1 fiscal 2027 GAAP results include items tied to the pending Jetro Restaurant Depot acquisition: a $234 million gain on deal contingent rate lock transactions, $90 million of bridge loan amortization and $56 million of acquisition and due diligence costs. Sysco removes all three from adjusted EPS.

Source: Sysco Q1 fiscal 2027 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 26, 2026. Figures as reported; checked against the release on November 10, 2026.

How Sysco splits revenue in its own release, under its own labels, for Q1 fiscal 2027 against Q1 fiscal 2026. Indented lines are parts of the line above them.

• Sysco's U.S. Foodservice Operations revenue was $15.1 billion in Q1 fiscal 2027, up 2% from $14.8 billion in Q1 fiscal 2026, 70% of total revenue.
• Sysco's International Foodservice Operations revenue was $4.2 billion in Q1 fiscal 2027, up 5% from $4.0 billion in Q1 fiscal 2026, 19% of total revenue.
• Sysco's SYGMA revenue was $2.2 billion in Q1 fiscal 2027, up 1% from $2.1 billion in Q1 fiscal 2026, 10% of total revenue.
• Sysco's Other revenue was $282 million in Q1 fiscal 2027, up 3% from $273 million in Q1 fiscal 2026, 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Sysco kept its fiscal 2027 assumption of approximately 2.5% local volume growth and said full-year sales growth is now expected at the lower end of its 6%-7% range because of lower industry inflation.

In its Q1 fiscal 2027 release (Brandon Sewell, Chief Financial Officer), Sysco said:

“We remain confident in delivering on our adjusted EPS growth guidance of 9%-11%”

“Looking ahead, we remain confident in our net cost savings targets enabled by AI technology which include our expectation for $100 million in savings included in our FY27 guidance, with benefits accelerating in the second half.”

Source: Sysco Q1 fiscal 2027 release, Nov 3, 2026.

This is the company's own guidance as of Nov 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the SYY forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP sales and diluted EPS, each as first reported in that quarter's release.

Sysco's next report is expected around February 2, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q1 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q1 fiscal 2027 (this page), reported Nov 3, 2026

Sysco's sales come mostly from U.S. Foodservice Operations, which brought in $15,142 million of the $21,744 million total in Q1 fiscal 2027. International Foodservice Operations added $4,168 million, SYGMA $2,152 million and Other, mainly the Guest Worldwide hotel supply business, $282 million. (Sysco Q1 fiscal 2027 release, Nov 3, 2026; Sysco Form 10-K, fiscal 2026, Aug 21, 2026)

Sysco distributes food and related products to customers who prepare meals away from home, from 333 distribution centers in 10 countries serving approximately 670,000 customer locations. SYGMA is its customized distribution business for quick-service chain restaurants. Restaurants made up 59% of fiscal 2026 sales, education and government 8%, healthcare 8% and travel and leisure 7%, and no single customer accounted for 10% or more of sales. (Sysco Q1 fiscal 2027 release, Nov 3, 2026; Sysco Form 10-K, fiscal 2026, Aug 21, 2026)

By product, fresh and frozen meats were Sysco's largest category in the quarter at $4,395 million, followed by canned and dry products at $3,969 million and frozen fruits, vegetables, bakery and other at $3,272 million. Poultry sales fell to $1,951 million from $2,094 million and dairy to $2,094 million from $2,189 million. (Sysco Form 10-Q, Q1 fiscal 2027, Nov 4, 2026)

Sysco's total sales rose 2.8%. U.S. Foodservice case volume grew 2.6% and local case volume 2.7%, while product cost inflation was only 0.3% at the enterprise level, primarily in meat. International Foodservice sales rose 5.1%, or 6.0% in constant currency. Sysco cited continued softness in restaurant foot traffic and lower than expected U.S. food cost inflation. (Sysco Q1 fiscal 2027 release, Nov 3, 2026)

Sysco's GAAP diluted EPS was $1.09 and adjusted EPS $1.19 in Q1 fiscal 2027. Adjusted EPS removes restructuring, transformation and severance costs ($0.21 per share before tax), acquisition-related costs ($0.22), $0.19 of bridge loan amortization and a $0.49 gain on deal contingent rate lock transactions, the last two tied to the Jetro Restaurant Depot purchase. (Sysco Q1 fiscal 2027 release, Nov 3, 2026)

GAAP operating income fell 10.4% to $717 million on acquisition costs related to Jetro Restaurant Depot, while adjusted operating income rose 3.2% to $927 million. The $234 million rate lock gain was booked below operating income, in other income, and GAAP net earnings rose 10.5% to $526 million. (Sysco Q1 fiscal 2027 release, Nov 3, 2026)

Sysco repurchased no shares in the quarter and on September 16, 2026 issued 12,345,679 new shares at $81.00 each, raising about $967 million net. Diluted shares were 482,945,241 against 480,365,666 a year earlier. The effective tax rate rose to 23.4% from 20.6%. (Sysco Form 10-Q, Q1 fiscal 2027, Nov 4, 2026; Sysco Q1 fiscal 2027 release, Nov 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Sysco gives full-year guidance in its release. For fiscal 2027 it reiterated adjusted EPS growth of 9%-11% and local volume growth of approximately 2.5%, and said full-year sales growth is now expected at the lower end of its 6%-7% range. The guidance includes an expected $100 million of savings from AI-enabled cost programs, with benefits accelerating in the second half. (Sysco Q1 fiscal 2027 release, Nov 3, 2026)

Sysco named preparing for the anticipated closure of the Jetro Restaurant Depot transaction as one of its three priorities for the year. Sysco has agreed to pay approximately $29.1 billion, made up of $21.6 billion in cash and 91.5 million shares of a new holding company, Sysco Holdings, in which JRD's equity holders are expected to own about 16%. (Sysco Q1 fiscal 2027 release, Nov 3, 2026; Sysco Form 10-Q, Q1 fiscal 2027, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Sysco, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Sysco's own release and filings put weight on for Q1 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning SYY is on is SYY a buy or a sell?, what analysts expect next is on the SYY forecast, and what the company does is on the Sysco Corporation (SYY) stock page.

Every number on this page can be traced to a document Sysco published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.