Company: SYY
Filing Date: 2025-01-29
Form Type: 10-Q
Source: 0000096021-25-000010
Chunk: 72

Company: SYSCO CORP
Filing Date: 2025-01-29
Form: 10-Q
Item: Item 1
Chunk 72
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 in millions)Sales$7,521 $7,279 $242 3.3 %Gross profit1,534 1,440 94 6.5 Operating expenses1,338 1,264 74 5.9 Operating income$196 $176 $20 11.4 %Gross profit$1,534 $1,440 $94 6.5 %Adjusted operating expenses (Non-GAAP)1,275 1,222 53 4.3 Adjusted operating income (Non-GAAP)$259 $218 $41 18.8 %Sales on a constant currency basis (Non-GAAP)$7,536 $7,279 $257 3.5 %Gross profit on a constant currency basis (Non-GAAP)1,530 1,440 90 6.3 Adjusted operating expenses on a constant currency basis (Non-GAAP)1,270 1,222 48 3.9 Adjusted operating income on a constant currency basis (Non-GAAP)$260 $218 $42 19.3 %

34

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 Period26-Week Period(Dollars in millions)(Dollars in millions)Cause of changePercentageDollarsPercentageDollarsInflation1.1 %$39 1.1 %$80 Foreign currency(0.6)(20)(0.2)(15)Other (1)3.1 112 2.4 177 Total change in sales3.6 %$131 3.3 %$242 

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

Sales for the second quarter and first 26 weeks of fiscal 2025 were higher, as compared to the second quarter and first 26 weeks of fiscal 2024, due to an improvement in volume and higher inflation.

Operating Income

The increase in operating income for the second quarter and first 26 weeks of fiscal 2025, as compared to the second quarter and first 26 weeks of fiscal 2024, was primarily due to growth in local case volumes