Cisco Company (NYSE:SYY) on Tuesday reported upbeat monetary outcomes for the second quarter of fiscal 2026.
The corporate reported second-quarter adjusted earnings per share of 99 cents, beating analysts’ consensus estimates of 98 cents. Quarterly gross sales had been $20.762 billion, roughly in step with Road View’s $20.767 billion and up 3.0% year-over-year.
Kevin Hourican, Sysco’s Chairman of the Board and Chief Government Officer, mentioned, “We achieved sequential enchancment in native case development for the third consecutive quarter. Extra importantly, USFS native case counts at the moment are constructive, with case counts growing 1.2% within the quarter.”
Cisco mentioned it expects fiscal 2026 adjusted EPS development to be on the excessive finish of its beforehand offered steering vary of $4.50 to $4.60. This outlook stays in keeping with the corporate’s long-term monetary objectives.
Sysco CFO Kenny Cheung mentioned the corporate is elevating its full-year adjusted EPS steering to the excessive finish of its earlier vary regardless of headwinds from decrease incentive compensation in fiscal 2025.
Cisco inventory’s closing worth on Tuesday was $83.92.
These analysts modified their worth targets for Cisco after the earnings launch.
Barclays analyst Jeffrey Bernstein maintained his “obese” score on Cisco and raised his worth goal to $92 from $88. Wells Fargo analyst Edward Kelly maintained his score on the inventory as “obese” and raised his worth goal to $92 from $88. Piper Sandler analyst Brian Mullan maintained Cisco with a “impartial” score and raised his worth goal from $80 to $83.
Contemplating shopping for SYY inventory? This is what analysts assume.
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