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SYY FY2026 Q4 IMPROVING

Отчётный звонок Sysco Corporation

Aug 04, 2026 · 10:00 ET Brandon SewellKevin HouricanKevin Kim
Вывод Buzzberg

Guidance for FY27 implies EPS growth at high end of long-term algorithm

Sysco reported strong Q4 results, exceeding guidance on EPS and volume growth, with accelerating momentum in local and national segments. Management provided optimistic FY27 guidance at the high end of its long-term algorithm, driven by AI-led cost savings, despite pausing share buybacks. The call heavily focused on the strategic and financial merits of the Restaurant Depot acquisition, emphasizing future synergies, EPS accretion, and debt reduction plans. Q4 FY26 revenue grew 4.7% to $22B, with adjusted EPS of $1.53, beating guidance.

Вывод Buzzberg Guidance for FY27 implies EPS growth at high end of long-term algorithm Sysco reported strong Q4 results, exceeding guidance on EPS and volume growth, with accelerating momentum in local and national segments. Management provided optimistic FY27 guidance at the high end of its long-term algorithm, driven by AI-led cost savings, despite pausing share buybacks. The call heavily focused on the strategic and financial merits of the Restaurant Depot acquisition, emphasizing future synergies, EPS accretion, and debt reduction plans. Q4 FY26 revenue grew 4.7% to $22B, with adjusted EPS of $1.53, beating guidance. Читать полный анализСвернуть анализ

Sysco reported strong Q4 results, exceeding guidance on EPS and volume growth, with accelerating momentum in local and national segments. Management provided optimistic FY27 guidance at the high end of its long-term algorithm, driven by AI-led cost savings, despite pausing share buybacks. The call heavily focused on the strategic and financial merits of the Restaurant Depot acquisition, emphasizing future synergies, EPS accretion, and debt reduction plans. Q4 FY26 revenue grew 4.7% to $22B, with adjusted EPS of $1.53, beating guidance.

  • USFS local case volumes grew 2.6%, with June being the strongest month.
  • FY27 guidance: revenue of ~$90B (6-7% growth), adjusted EPS of $5.02-$5.12 (9-11% growth), includes the 53rd week.
  • Announced $100M in-year AI-driven cost savings, with a run-rate of $160M.
Revenue $22.124B +8% QoQ
EPS $1.53 reported
Gross margin 18.69% reported
Op margin 4.45% reported

Что изменилось в этом квартале

01
Guidance

Guidance for FY27 implies EPS growth at high end of long-term algorithm

Guidance · revenue to $89.5B

02
AI

AI and tech initiatives to deliver $100 million in-year savings

Management emphasized AI-driven transformation as a key driver of efficiency and growth, with initiatives like AI360 improving sales productivity and penetration. They expect AI and technology modernization to deliver $100 million in in-year savings in fiscal 2027, with a…

03
AI

AI360 selling tool improving productivity and penetration

Management emphasized AI-driven transformation as a key driver of efficiency and growth, with initiatives like AI360 improving sales productivity and penetration. They expect AI and technology modernization to deliver $100 million in in-year savings in fiscal 2027, with a…

04
Demand

Local case growth accelerated to 2.9% in second half

Management expressed strong confidence in momentum, raised guidance for fiscal 2027, and highlighted accelerating local case growth and AI-driven efficiencies, while maintaining a positive outlook on the Restaurant Depot acquisition.

AI, капзатраты и спрос

AI

Платформа и монетизация

Management emphasized AI-driven transformation as a key driver of efficiency and growth, with initiatives like AI360 improving sales productivity and penetration. They expect AI and technology modernization to deliver $100 million in in-year savings in fiscal 2027, with a multi-year operating margin expansion commitment to be announced later.

Спрос

Заказы и конверсия

Local case growth accelerated to 2.9% in second half. Management expressed strong confidence in momentum, raised guidance for fiscal 2027, and highlighted accelerating local case growth and AI-driven efficiencies, while maintaining a positive outlook on the Restaurant Depot acquisition.

Капзатраты

Инвестиции и мощности

CapEx is expected to remain at approximately 0.8% of sales or $720 million in fiscal 2027. The company is investing in technology upgrades, including routing software and AI tools, to drive efficiency and productivity gains.

Тон · Upbeat

Management expressed strong confidence in momentum, raised guidance for fiscal 2027, and highlighted accelerating local case growth and AI-driven efficiencies, while maintaining a positive outlook on the Restaurant Depot acquisition.

Альфа цепочки поставок

A1

Sysco plans to leverage Restaurant Depot store locations for rapid same-day delivery to its traditional delivery customers who run out of product between deliveries.

“leveraging restaurant depot stores to fulfill orders for Cisco delivery customers When the customer needs product immediately. In many instances, the Restaurant Depot store is closer to our end customer.”
Kevin Hourican
A2

Sysco's Q4 gross margin was pressured by unhedged inbound fuel costs, but the company chose to absorb the impact rather than raise prices to remain competitive.

“with the inbound, we monitored it during the quarter and We made purposeful choices to absorb some of that cost.”
Brandon Sewell
A3

Sysco's 'value tier' Cisco brand products are seeing sales growth four times faster than the overall book of business, and these are net-new cases, not cannibalization of existing brands.

“Our value tier item sales growth was four times faster than our overall book of business, and this is not cannibalizing our existing business.”
Kevin Hourican

Прогноз компании

ImprovingGuidance · revenue to $89.5B · was IN LINE last Q
Прогноз компании
ПоказательПериодДиапазонСерединаСтатус
CapexFY2027$720M$720MGUIDED
EPSFY2027$5.02–$5.12$5.07GUIDED
EPSFY2027 Q1$1.18–$1.20$1.19GUIDED
RevenueFY2027$89B–$90B$89.5BGUIDED

Надёжность прогнозов

2 / 2выполнено или превышено
Надёжность прогнозов
Дата прогнозаПоказательЦелевой периодПрогнозФактРезультат
FY2026 Q3EPSFY2026 Q4$1.51$1.53Met / beat
FY2026 Q2EPSFY2026 Q3$0.94$0.94Met / beat

Сигналы по компаниям

-0.8%
с момента звонка
$942.98$935.25
Конкуренты

Identifies Costco as a major competitor in the cash-and-carry space, contextualizing the competitive landscape that the Restaurant Depot acquisition will operate within.

“You've got Costco, you've got Sam's Club, you have thousands of independent cash and carry operators.”
Kevin Hourican
+2.1%
с момента звонка
$15.69$16.02
Инвестиции

Understanding JRD's current performance and growth trajectory is key to evaluating Sysco's acquisition thesis and the combined company's future EPS and debt reduction potential.

“We have been advised by Restaurant Depot leadership that in their most recently completed calendar quarter, their sales growth was approximately 4% and their operating margins were in line with expectations.”
Kevin Hourican