Sysco Corporation (NYSE: SYY) reaffirmed its fiscal 2027 financial guidance and raised its mid-term financial targets, while introducing a $500 million AI-powered efficiency program, according to a company statement ahead of its presentation at the Barclays 19th Annual Global Consumer Staples Conference in Boston.

Sysco reaffirmed fiscal 2027 guidance of net sales growth of approximately 6% to 7%, reaching approximately $90 billion, and adjusted earnings per share of $5.02 to $5.12, representing growth of approximately 9% to 11% on a 53-week basis.

The company also raised its mid-term financial targets for fiscal years 2028 and 2029. Annualized net sales growth is now projected at 4% to 7%, up from a previous range of 4% to 6%. Annualized adjusted EPS growth is now projected at 9% to 11%, up from a previous range of 6% to 8%.

Sysco introduced a multi-year AI efficiency program targeting at least $500 million in savings to be realized by fiscal year 2029. The program includes $100 million in expected in-year savings already incorporated into fiscal 2027 guidance. Key workstreams include supply chain productivity improvements such as routing software modernization, automation across merchandising and procurement, indirect spend management, and back-office simplification.

"The $500 million of AI powered efficiency improvement will deploy over the next three years," said Kevin Hourican, Sysco's Chair of the Board and Chief Executive Officer. "These savings reflect a durable change in how we execute our day-to-day business across truck routing, merchandising, and sales."

Hourican also referenced the expected closure of the Jetro Restaurant Depot transaction by the third quarter of fiscal 2027. All fiscal 2027 and mid-term guidance figures reflect core Sysco on a standalone basis and exclude the Jetro transaction.