Company: SYY
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000096021-25-000037
Chunk: 75

Company: SYSCO CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 75
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875 1,832 43 2.3 Adjusted operating income (Non-GAAP)$387 $328 $59 18.0 %Sales on a constant currency basis (Non-GAAP)$11,107 $10,773 $334 3.1 %Gross profit on a constant currency basis (Non-GAAP)2,278 2,160 118 5.5 Adjusted operating expenses on a constant currency basis (Non-GAAP)1,887 1,832 55 3.0 Adjusted operating income on a constant currency basis (Non-GAAP)$391 $328 $63 19.2 %

35

Sales

The following tables set forth the percentage and dollar value increase or decrease in the major components impacting sales as compared to the corresponding prior year period in order to demonstrate the cause and magnitude of change.

Increase (Decrease)Increase (Decrease)13-Week Period39-Week Period(Dollars in millions)(Dollars in millions)Cause of changePercentageDollarsPercentageDollarsInflation2.6 %$89 1.6 %$170 Foreign currency(3.3)(114)(1.2)(129)Other (1)(0.4)(12)1.5 164 Total change in sales(1.1)%$(37)1.9 %$205 

(1)The impact of volumes as a component of sales growth from international operations are included within “Other.”

Sales for the third quarter of fiscal 2025 decreased by 1.1% as compared to the third quarter of fiscal 2024, primarily due to the impacts of exchange rate fluctuations, partially offset by higher inflation. Sales increased by 1.9% in the first 39 weeks of fiscal 2025 as compared to the first 39 weeks of fiscal 2024, primarily due to higher inflation, partially offset by impacts of exchange rate fluctuations. Excluding the impact of the Mexico joint venture, which was divested in the second quarter of fiscal 2025, sales increased 2.5% in the third quarter of fiscal 2025 as compared to the third quarter of fiscal 2024. 

Operating Income

The increase in operating income for the third quarter and first 39 weeks of fiscal 2025, as compared to the third quarter and first 39 weeks of fiscal 2024, was primarily due to growth in local case volumes,