Sysco sees FY26 adjusted EPS $4.50-$4.60, consensus $4.56

Say performance this quarter ‘was strong’. Says expects ‘positive momentum’ in international to continue this year. Says seeing continued y/y momentum in USFS volume growth rates in October. Says expects to deliver improving financial results in 2026 and beyond. Says updating USFS case growth metric to include specialty meat business. Says its a ‘relatively minor change’, accounting for an approximate 0-10 bps impact on average over the last five quarters. Says balance sheet ‘remains robust’ and reflects ‘healthy’ financial profile. Says remains ‘on target’ for FY26 key guidance metrics. Sees 5%-7% adjusted EPS growth excluding incentive compensation headwind. Says FY26 adjusted EPS guidance includes approximately $100M in carry over impact from incentive comp for the year. Sees FY26 tax rate 23.5%-24%. Sees capex $700M.