Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 138

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 7
Chunk 138
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:

◦decreased 4.1%, or $0.16, to $3.74 from the comparable prior year amount of $3.90 per share;

•Diluted earnings per share:

◦decreased 4.1%, or $0.16, to $3.73 from the comparable prior year amount of $3.89 per share;

◦adjusted diluted earnings per share were $4.46 in fiscal 2025, a $0.15 increase from the comparable prior year amount of $4.31 per share; 

•EBITDA:

◦decreased 1.2%, or $50 million, to $4.0 billion; and

◦adjusted EBITDA increased 2.4%, or $101 million, to $4.3 billion. 

The discussion of our results includes certain non-GAAP financial measures, including EBITDA and adjusted EBITDA, that we believe provide important perspective with respect to underlying business trends. Other than EBITDA and free cash flow, any non-GAAP financial measures will be denoted as adjusted measures to remove (1) restructuring charges; (2) expenses associated with our various transformation initiatives; (3) severance charges; and (4) acquisition-related costs consisting of: (a) intangible amortization expense and (b) acquisition costs and due diligence costs related to our acquisitions. 

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Fiscal 2025 results of operations were also negatively impacted by a noncash goodwill impairment charge. No similar charge was applicable in fiscal 2024.

The fiscal 2025 and fiscal 2024 items discussed above are collectively referred to as “Certain Items.” The results of our operations can be impacted by changes in exchange rates applicable to converting from local currencies to U.S. dollars. We measure our results on a constant currency basis. Our discussion below of our results includes certain non-GAAP financial measures that we believe provide important perspective with respect to underlying business trends. Other than free cash flow, any non-GAAP financial measures will be denoted as adjusted measures and exclude the impact from Certain Items, and certain metrics are stated on a constant currency basis.

Management believes that adjusting its operating expenses, operating income, other (income) expense, net earnings and diluted earnings per share to remove these Certain Items, provides an important perspective with respect to our underlying business trends and results. Additionally, it provides meaningful supplemental information to both management and investors that (1) is indicative of the performance of the