Company: SYY
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000096021-25-000157
Chunk: 60

Company: SYSCO CORP
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 60
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 10 16 NMImpact of acquisition-related costs (7)3 9 (6)(66.7)Operating loss adjusted for Certain Items (Non-GAAP)$(194)$(209)$15 7.2 % 

(1)Primarily represents severance and transformation initiative costs.(2)Fiscal 2026 and fiscal 2025 include intangible amortization expense and acquisition costs. (3)Represents a constant currency adjustment, which eliminates the impact of foreign currency fluctuations on current year results.(4)Includes restructuring and transformation costs primarily in Europe.(5)Primarily represents intangible amortization expense and acquisition costs.(6)Includes various transformation initiative costs, primarily consisting of changes to our business technology strategy.(7)Represents due diligence costs.NMRepresents that the percentage change is not meaningful.

34

EBITDA and Adjusted EBITDA

EBITDA and adjusted EBITDA should not be used as a substitute for the most comparable GAAP measure in assessing Sysco’s overall financial performance for the periods presented. An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP. See Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Key Performance Indicators” contained in our fiscal 2025 Form 10-K for discussions regarding this non-GAAP performance metric. Set forth below is a reconciliation of actual net earnings to EBITDA and to adjusted EBITDA results for the periods presented (dollars in millions): 

13-Week Period Ended Sep. 27, 202513-Week Period Ended Sep. 28, 2024Change in Dollars% ChangeNet earnings (GAAP)$476 $490 $(14)(2.9)%Interest (GAAP)172 160 12 7.5 Income taxes (GAAP)124 152 (28)(18.4)Depreciation and amortization (GAAP)233 235 (2)(0.9)EBITDA (Non-GAAP)$1,005 $1,037 $(32)(3.1)%Certain Item adjustments:Impact of restructuring and transformational project costs (1)$54 $26 $28 NMImpact of acquisition-related costs (2)11 6 5 83.3 EBITDA adjusted for Certain Items (Non-GAAP) (3)$1,070 $1,069