Sysco (SYY) Q3 FY2026 earnings: revenue $20.5 billion, up 4.7% on the year

Sysco Corp. (SYY) reported revenue of $20.5 billion for Q3 FY2026, the quarter ended 28 March 2026, up 4.7% on the same quarter a year earlier. Net income was $340 million, down 15.2% on the year, and diluted earnings per share $0.71. The figures are the company's own, from the 10-Q it filed with the SEC on 29 April 2026.

Revenue

$20.5 billion

+4.7% on the year · -1.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

3.0%

3.5% a year earlier

Q4 FY2024Q3 FY2026

Net income

$340 million

-15.2% on the year · -12.6% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.71

-13.4% on the year · -12.3% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 new, 2 kept.

Sales and volume grew: Sales rose 4.7% to $20.5 billion in the 13-week quarter. U.S. Foodservice case volume rose 2.3%, and U.S. local case volume rose 3.3%.
Operating income declined: Operating income fell 9.1% to $619 million, and adjusted operating income fell 0.6% to $768 million. Net earnings fell 15.2% to $340 million, and diluted EPS was $0.71, down 13.4%.
U.S. Foodservice returned to profit growth: U.S. Foodservice sales rose 3.1% to $14.2 billion. Operating income rose 2.4% to $772 million, and adjusted operating income rose 5.1% to $830 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	20,519	20,762	19,598	-1.2%	+4.7%
Cost of revenue	16,707	16,970	16,017	-1.5%	+4.3%
Gross profit	3,812	3,792	3,581	+0.5%	+6.5%
Gross margin	18.6%	18.3%	18.3%
Operating income	619	692	681	-10.5%	-9.1%
Operating margin	3.0%	3.3%	3.5%
Interest expense	168	173	149	-2.9%	+12.8%
Pre-tax income	445	510	523	-12.7%	-14.9%
Income tax	105	121	122	-13.2%	-13.9%
Effective tax rate	23.6%	23.7%	23.3%
Net income	340	389	401	-12.6%	-15.2%
Net margin	1.7%	1.9%	2.0%
Diluted EPS	$0.71	$0.81	$0.82	-12.3%	-13.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	852	525	819	+62.3%	+4.0%
Capital expenditure	161	140	199	+15.0%	-19.1%
Free cash flow	691	385	620	+79.5%	+11.5%
Free cash flow margin	3.4%	1.9%	3.2%
Cash from investing	-189	-193	-188
Cash from financing	0.0	-67.0	66.0
Depreciation and amortisation	251	240	238	+4.6%	+5.5%
Share-based compensation	31.0	33.0	14.0	-6.1%	+121.4%
Buybacks	200	0.0	400		-50.0%
Dividends paid	260	259	249	+0.4%	+4.4%
Dividend per share	$0.54	$0.54	$0.51	0.0%	+5.9%
Diluted shares, weighted	481m	481m	489m	+0.1%	-1.7%
Shares outstanding at period end	478m	479m	485m	-0.2%	-1.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	2,297	2,283	1,922	+0.6%	+19.5%
Redeemable equity	0.0	55.0	23.0
Debt	14,008	13,590	13,466	+3.1%	+4.0%
Operating lease liabilities	1,226	1,236	1,010	-0.8%	+21.4%
Other liabilities	10,452	10,017	9,926	+4.3%	+5.3%
Total liabilities and equity	27,983	27,181	26,347	+3.0%	+6.2%
Goodwill	5,246	5,282	5,199	-0.7%	+0.9%
Intangible assets	995	1,045	1,100	-4.8%	-9.5%
Investments	124	125	129	-0.8%	-3.9%
Cash and equivalents	1,900	1,222	1,527	+55.5%	+24.4%
Other assets	19,718	19,507	18,392	+1.1%	+7.2%
Total assets	27,983	27,181	26,347	+3.0%	+6.2%

Questions

What was Sysco's revenue in Q3 FY2026?

Sysco (SYY) reported revenue of $20.5 billion for Q3 FY2026, the quarter ended 28 March 2026, up 4.7% on the same quarter a year earlier.

How much did Sysco earn in Q3 FY2026?

Net income for Q3 FY2026 was $340 million, down 15.2% on the year, and diluted earnings per share $0.71.

When did Sysco report Q3 FY2026 results?

Sysco filed its 10-Q for the quarter ended 28 March 2026 with the SEC on 29 April 2026.

Quarterly results, the last 20 quarters

	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023 †	Q2 FY2023	Q3 FY2023 †	Q4 FY2023	Q1 FY2024 †	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	16,320	16,902	18,957	19,127	18,594	18,876	19,728	19,620	19,288	19,380	20,556	20,484	20,151	19,598	21,137	21,148	20,762	20,519	22,124	21,744
Cost of revenue	13,429	13,889	15,513	15,638	15,244	15,444	16,043	15,973	15,774	15,770	16,719	16,731	16,501	16,017	17,152	17,247	16,970	16,707	17,990	17,693
Gross profit	2,891	3,013	3,444	3,489	3,350	3,431	3,685	3,648	3,514	3,609	3,838	3,753	3,650	3,581	3,985	3,901	3,792	3,812	4,134	4,051
Gross margin	18%	18%	18%	18%	18%	18%	19%	19%	18%	19%	19%	18%	18%	18%	19%	18%	18%	19%	19%	19%
Operating income	445	496	767	737	641	696	969	804	700	722	976	808	712	681	887	800	692	619	984	717
Operating margin	3%	3%	4%	4%	3%	4%	5%	4%	4%	4%	5%	4%	4%	3%	4%	4%	3%	3%	4%	3%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	134	150	158	165	160	160	149	166	172	173	168	204	261
Pre-tax income	213	385	642	595	178	554	958	663	545	554	803	642	533	523	717	600	510	445	721	687
Tax rate	21%	21%	21%	22%	21%	22%	23%	24%	24%	23%	24%	24%	24%	23%	26%	21%	24%	24%	23%	23%
Net income	167	303	510	466	141	430	734	503	415	425	612	490	406	401	531	476	389	340	552	526
Net margin	1%	2%	3%	2%	1%	2%	4%	3%	2%	2%	3%	2%	2%	2%	3%	2%	2%	2%	2%	2%
Diluted EPS	$0.33	$0.59	$0.99	$0.91	$0.28	$0.84	$1.44	$0.99	$0.82	$0.85	$1.23	$0.99	$0.82	$0.82	$1.10	$0.99	$0.81	$0.71	$1.15	$1.09
Operating cash flow	266	369	1,045	159	345	922	1,442	87.2	769	517	1,616	53.0	445	819	1,193	86.0	525	852	1,175	278
Capital expenditure	96.4	146	305	167	142	165	319	171	175	183	302	122	211	199	374	160	140	161	239	97.0
Free cash flow	170	223	740	-8.7	202	758	1,123	-83.8	593	334	1,314	-69.0	234	620	819	-74.0	385	691	936	181
Buybacks	416	0.0	84.0	268	0.0	110	122	100.0	100.0	500	532	108	192	400	550	0.0	0.0	200	0.0	n/a
Dividends paid	241	238	239	249	249	249	249	253	253	253	250	251	252	249	248	259	259	260	259	264
Shares outstanding	507m	509m	506m	507m	508m	507m	505m	504m	498m	498m	492m	491m	489m	485m	478m	479m	479m	478m	479m	492m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 28 March 2026, filed 29 April 2026: the filing.