Sysco Corporation (SYY) Earnings Call Transcripts
Sysco Corporation's Latest Earnings Call - June 2, 2026
In Sysco Corporation's Q3 fiscal 2026 earnings call held on June 2, 2026, management highlighted a strong trajectory with a projected 2.5% volume growth for Q4, despite flat restaurant traffic. The company reported a robust 10 consecutive quarters of double-digit profit growth and announced the acquisition of Jetro Restaurant Depot, which is expected to increase revenue by 20% and EBITDA by 45%. Sysco maintained its commitment to deleveraging, targeting a reduction from 4.5x to 3.5x net leverage over the next 24 months, while also emphasizing continued dividend growth.
Reported metrics
| Metric | Value |
|---|---|
| Revenue Growth | $20.4B (beat) |
| EBITDA Growth | $3.6B (beat) |
| EPS | $1.25 (beat) |
| Net Leverage Ratio | 4.5x (neutral) |
| Volume Growth Guidance | 2.5% (positive) |
| Operating Margin | 6.7% (positive) |
Guidance from management
Sysco expects to achieve at least 2.5% volume growth in Q4 and aims to reduce net leverage to 3.5x within 24 months. The guidance reflects confidence in both core operations and the integration of Jetro Restaurant Depot.
What analysts pressed on
Analysts expressed concerns regarding the sustainability of the 13% EBITDA margins post-acquisition and the potential impact of market conditions on Sysco's growth trajectory. Questions were raised about the effectiveness of the deleveraging plan and the integration of Jetro Restaurant Depot's operations.
Main topics on the call
- Acquisition of Jetro Restaurant Depot — Sysco's acquisition of Jetro Restaurant Depot is expected to enhance revenue by 20% and EBITDA by 45%. CEO Kevin Hourican stated, "The cash generation of Restaurant Depot... will allow us to increase our rate of dividend...
- Volume Growth Guidance — Management communicated a Q4 volume growth target of at least 2.5%, which represents a 120 basis point improvement on a 2-year stack basis. Hourican noted, "We are on track to deliver our 2.5% volume growth."
- Profitability Focus — Sysco has achieved its tenth consecutive quarter of double-digit profit growth. Interim CFO Brandon Sewell mentioned, "Our CAGR on sales is about 5% over the last 5 years, roughly double that on EPS," indicating strong o...
- Deleveraging Strategy — Sysco plans to reduce its net leverage from 4.5x to 3.5x over the next 24 months, with a focus on cash flow efficiency. Sewell stated, "We will give quarterly updates on where we're at" in terms of deleveraging progress.
Read the full Sysco Corporation transcript (June 2, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Sysco Corporation
Sysco Corporation (SYY) is a publicly listed company in the Consumer Staples Distribution and Retail industry, within the Consumer Staples sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 58 calls on record spanning February 3, 2020 to June 2, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 58 Sysco Corporation earnings call transcripts on record, spanning February 3, 2020 to June 2, 2026. Based on this history, Sysco Corporation reports quarterly. The most recent call on file is dated June 2, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- SYY
- Exchange
- NYSE
- Country
- US
- Sector
- Consumer Staples
- Calls on record
- 58
- First call
- February 3, 2020
- Most recent
- June 2, 2026
- Reporting cadence
- quarterly