Sysco Corporation (NYSE:SYY) filed its Form 10-Q for the quarterly period ended September 26, 2026, reporting first-quarter fiscal 2027 financial results including net earnings of $526 million on sales of $21.744 billion.

Key Highlights

  • Quarterly sales: $21.744 billion for the 13-week period ended September 26, 2026, up from $21.148 billion in the same period a year earlier.
  • Net earnings: $526 million, compared with $476 million in the prior-year quarter, with diluted earnings per share of $1.09 versus $0.99.
  • JRD acquisition gain: A $234 million gain in other income was recorded related to deal contingent rate lock transactions entered into to mitigate interest rate risk on permanent debt issued to finance the purchase of Jetro Restaurant Depot.
  • Common stock issuance: 12,345,679 shares were issued during the quarter, raising $967 million in proceeds, contributing to a rise in total shareholders' equity to $4.042 billion from $2.666 billion.
  • Dividends declared: $0.55 per common share for the quarter, compared with $0.54 per common share in the prior-year quarter.
  • Total assets: $30.448 billion as of September 26, 2026, up from $28.397 billion as of June 27, 2026.
  • Shares outstanding: 492,270,756 shares of common stock as of October 16, 2026.

Sysco's First Quarter Fiscal 2027 Financial Position and Operating Results

According to the filing, Sysco reported sales of $21.744 billion for the 13-week period ended September 26, 2026, an increase from $21.148 billion in the comparable prior-year period. Gross profit rose to $4.051 billion from $3.901 billion, while operating expenses increased to $3.334 billion from $3.101 billion, resulting in operating income of $717 million compared with $800 million a year earlier. Interest expense climbed to $261 million from $172 million, reflecting higher debt levels associated with financing activities.

The company disclosed that other income of $234 million was recognized in the first quarter related to deal contingent rate lock transactions entered into to mitigate interest rate risk on permanent debt issued to finance the purchase of JRD Unico, Inc. and Warehouse Realty, LLC, collectively referred to as Jetro Restaurant Depot or JRD. This item is cited in the filing as a notable driver of period-over-period variation in the "Other expense (income), net" line. Net cash provided by operating activities totaled $278 million for the quarter, up from $86 million in the prior-year period.

On the balance sheet, total assets grew to $30.448 billion as of September 26, 2026, compared with $28.397 billion at June 27, 2026. Cash and cash equivalents rose to $3.171 billion from $1.786 billion. Long-term debt increased to $12.860 billion from $12.315 billion. Total shareholders' equity expanded to $4.042 billion, partly reflecting the issuance of 12,345,679 shares of common stock, which the filing reports raised $967 million. Accumulated other comprehensive loss improved to $(906) million from $(1,014) million at the prior fiscal year-end.

What Was Disclosed

Sysco filed its quarterly report covering the 13-week period ended September 26, 2026, disclosing income statement, balance sheet, cash flow, and shareholders' equity data, along with details on a $234 million gain tied to Jetro Restaurant Depot acquisition financing.