Company: SYY
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000096021-25-000037
Chunk: 24

Company: SYSCO CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 2
Chunk 24
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Week Period Ended Mar. 30, 2024Change in Dollars%/bps  ChangeOperating expenses (GAAP)$438 $408 $30 7.4 %Operating income (GAAP)54 46 8 17.4 %OTHEROperating expenses (GAAP)$188 $195 $(7)(3.6)%Operating income (GAAP)9 27 (18)(66.7)%GLOBAL SUPPORT CENTERGross profit (GAAP)$29 $19 $10 52.6 %Operating expenses (GAAP)$680 $758 $(78)(10.3)%Impact of restructuring and transformational project costs (6)(42)(38)(4)(10.5)Impact of acquisition-related costs (7)(12)(19)7 36.8 Operating expenses adjusted for Certain Items (Non-GAAP)$626 $701 $(75)(10.7)%Operating loss (GAAP)$(651)$(739)$88 11.9 %Impact of restructuring and transformational project costs (6)42 38 4 10.5 Impact of acquisition-related costs (7)12 19 (7)(36.8)Operating loss adjusted for Certain Items (Non-GAAP)$(597)$(682)$85 12.5 %

(1)Primarily represents severance and transformation costs. (2)Fiscal 2025 and fiscal 2024 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.

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 2024 Form 10-K for discussions regarding this non-GAAP performance metric. Set forth below