Company: SYY
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000096021-25-000157
Chunk: 3

Company: SYSCO CORP
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 3
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 One Another.” Purpose-driven companies are believed to perform better. We believe our purpose will assist us to grow substantially faster than the foodservice distribution industry and deliver profitable growth through our Recipe for Growth transformation. This growth transformation is supported by strategic pillars that we believe will allow us to better serve our customers, including our digital, products and solutions, supply chain, customer teams, and future horizons strategies.

Our business transformation initiatives are progressing, which include promoting our specialty programs for produce, protein and Italian products, and our customer growth initiatives. From these actions, as a part of our Recipe for Growth, the benefits of our developing capabilities are apparent in the new customers we are winning and in the progress we are making toward increasing market share. We expect that, as our Recipe for Growth matures, the impact on our top-line growth will deliver profitable and consistent growth. 

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Results of Operations

The following table sets forth the components of our consolidated results of operations expressed as a percentage of sales for the periods indicated:

 13-Week Period Ended Sep. 27, 2025Sep. 28, 2024Sales100.0 %100.0 %Cost of sales81.6 81.7 Gross profit18.4 18.3 Operating expenses14.6 14.4 Operating income3.8 3.9 Interest expense0.8 0.8 Other expense (income), net0.2 — Earnings before income taxes2.8 3.1 Income taxes0.5 0.7 Net earnings2.3 %2.4 %

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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 EndedSep. 27, 2025Sales3.2 %Cost of sales3.1 Gross profit3.9 Operating expenses5.3 Operating income(1.0)Interest expense7.5 Other expense (income), net (1)366.7 Earnings before income taxes(6.5)Income taxes(18.4)Net earnings(2.9)%Basic earnings per share(1.0)%Diluted earnings per share— Average shares outstanding(2.7)Diluted shares outstanding(2.7)

(1)Other expense (income), net was expense of $28 million and