Company: SYY
Filing Date: 2025-01-29
Form Type: 10-Q
Source: 0000096021-25-000010
Chunk: 66

Company: SYSCO CORP
Filing Date: 2025-01-29
Form: 10-Q
Item: Item 1
Chunk 66
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%100.0 %Cost of sales81.9 81.8 81.8 81.6 Gross profit18.1 18.2 18.2 18.4 Operating expenses14.6 14.6 14.5 14.5 Operating income3.5 3.6 3.7 3.9 Interest expense0.8 0.8 0.8 0.8 Other expense (income), net0.1 — — — Earnings before income taxes2.6 2.8 2.9 3.1 Income taxes0.6 0.6 0.7 0.7 Net earnings2.0 %2.2 %2.2 %2.4 %

29

The following table sets forth the change in the components of our consolidated results of operations expressed as a percentage increase or decrease over the comparable period in the prior year:

 13-Week Period Ended26-Week Period EndedDec. 28, 2024Dec. 28, 2024Sales4.5 %4.4 %Cost of sales4.6 4.7 Gross profit3.9 3.4 Operating expenses4.4 4.0 Operating income1.7 1.0 Interest expense6.7 12.3 Other expense (income), net (1) (2)280.0 108.3 Earnings before income taxes(2.2)(2.7)Income taxes(2.3)(3.5)Net earnings(2.2)%(2.5)%Basic earnings per share1.2 %— %Diluted earnings per share— 0.6 Average shares outstanding(2.7)(2.6)Diluted shares outstanding(2.6)(2.6)

(1)Other expense (income), net was expense of $19 million and $5 million in the second quarter of fiscal 2025 and fiscal 2024, respectively.(2)Other expense (income), net was expense of $25 million and $12 million in the first 26 weeks of fiscal 2025 and fiscal 2024, respectively.

The following tables represent our results by reportable segments:

 13-Week Period Ended Dec. 28, 2024 U.S. Foodservice OperationsInternational