-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點總結如下：SYY公佈的第三財季調整後每股收益為0.94美元（年減2.0%），與市場預期一致；營收為205億美元（年成長4.7%），略低於先前預期的206億美元。美國餐飲服務銷量年增2.3%，其中本地銷售增速加快至3.3%，證明了儘管面臨行業逆風，公司在銷售團隊方面的投入是值得的。我們認為銷售表現令人鼓舞，並鞏固了SYY的市場領先地位。管理層維持了2026財年全年調整後每股收益4.50美元至4.60美元的預期，顯示對第四季業績加速成長充滿信心。儘管產品成本上漲2.8%，毛利率仍成長至18.6%（年增30個基點），展現了公司有效的定價策略。然而，由於營運費用（年增8.4%）大幅上漲，尤其是國際餐飲服務費用（年增15%），導致營業利潤率壓縮至3.7%（年減20個基點）。我們認為，SYY的成長策略和多元化的客戶基礎使其處於有利地位，但控制費用成長將是利潤率復原的關鍵。
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