Sysco Corporation (SYY) Presents at Barclays 19th Annual Global Consumer Staples Conference Prepared Remarks Transcript

SA Transcripts 162.14K Followers Follow Sysco Corporation ( SYY ) Barclays 19th Annual Global Consumer Staples Conference September 9, 2026 12:00 PM EDT Company Participants Kevin Hourican - CEO & Chairman Brandon Sewell - Interim Chief Financial Officer Conference Call Participants Jeffrey Bernstein Presentation Jeffrey Bernstein Good afternoon, everyone. It is noon on day 2. So we're pushing into the back half of our conference here. We want to thank everyone for joining us here. Hopefully, people had a chance to grab some lunch or we'll do so afterwards. My name is Jeff Bernstein, and I'm the Restaurant and Food service distribution analyst here at Barclays. We are thrilled to introduce our next presenting company, which is Sysco Corporation. With us on stage all the way from Houston, Texas. We have Kevin Hourican to my immediate right, who is the Chairman and CEO; and Brandon Sewell, who is the Interim CFO. By way of background, for those perhaps not familiar, Sysco distributes food and related products to the $380 billion roughly food service industry. The company has 335 or so distribution facilities around the world, serving 730,000 customer locations. 2027 guidance is for $90 billion in sales, up 6% to 7% year-on-year. And I should say their fiscal '27 began July 1. That's led by local case growth ultimately generating 9% to 11% EPS growth and all was reiterated this morning. So for those who did not see the 8-K that was published this morning, all fiscal '27 guidance was reiterated. In addition, this morning, Sysco noted that momentum to close fiscal '26, again, which ended in June has carried into early fiscal '27, which is very encouraging to hear. And in addition to the fiscal '27 guidance reiteration, management raised their midterm guidance range for sales and EPS and introduced a target of at least $500 million of