Sysco Corporation (NYSE:SYY) reported upbeat second-quarter fiscal 2026 earnings on Tuesday.
The company reported second-quarter adjusted earnings per share of 99 cents, beating the analyst consensus estimate of 98 cents. Quarterly sales came in at $20.762 billion, essentially matching the Street view of $20.767 billion and marking a 3.0% year-over-year increase.
"We delivered our third consecutive quarter of sequentially improving local case growth. More importantly, USFS local case volume is now positive, having delivered positive 1.2% case volume growth in the quarter," said Kevin Hourican, Sysco's Chair of the Board and Chief Executive Officer.
Sysco said it expects fiscal 2026 adjusted EPS growth to land at the high end of its previously provided guidance range of $4.50-$4.60. The outlook remains in line with the company's long-term financial targets.
Sysco CFO Kenny Cheung said the company is raising its full-year adjusted EPS outlook to the high end of its prior range, despite a roughly $100 million, or $0.16 per diluted share, headwind from lapping lower incentive compensation in fiscal 2025.
Sysco shares closed at $83.92 on Tuesday.
These analysts made changes to their price targets on Sysco following earnings announcement.
- Barclays analyst Jeffrey Bernstein maintained Sysco with an Overweight rating and raised the price target from $88 to $92.
- Wells Fargo analyst Edward Kelly maintained the stock with an Overweight rating and raised the price target from $88 to $92.
- Piper Sandler analyst Brian Mullan maintained Sysco with a Neutral and raised the price target from $80 to $83.
Considering buying SYY stock? Here’s what analysts think:
Photo via Shutterstock
Comments