# Sysco Corporation (SYY) Q4 2025 Financial Results Summary
Sysco Corporation (NYSE: SYY) released its financial results for the fourth quarter and full fiscal year 2025 on July 29, 2025. Below is a summary of their key financial metrics and performance highlights for the quarter ended June 28, 2025.
### Fourth Quarter Fiscal Year 2025 Results Summary
– **Sales:** Increased 2.8%, reaching **$21.1 billion**.
– **U.S. Foodservice Volume:** Decreased by 0.3%.
– **Gross Profit:** Increased 3.9% to **$4.0 billion**.
– **Operating Income:** Decreased 9.0% to **$889 million**.
– **Adjusted Operating Income:** Increased 1.1% to **$1.1 billion**.
– **Net Earnings:** Decreased 13.2% to **$531 million**.
– **Adjusted Net Earnings:** Increased 3.3% to **$716 million**.
– **EBITDA:** Decreased 6.5% to **$1.1 billion**.
– **Adjusted EBITDA:** Increased 1.8% to **$1.3 billion**.
– **Earnings Per Share (EPS):** Decreased 10.6% to **$1.10**.
– **Adjusted EPS:** Increased 6.5% to **$1.48**.
### Full Year Fiscal 2025 Results Summary
– **Sales:** Increased 3.2% to **$81.4 billion**.
– **Gross Profit:** Increased 2.5% to **$15.0 billion**.
– **Operating Income:** Decreased 3.6% to **$3.1 billion**.
– **Adjusted Operating Income:** Increased 1.2% to **$3.5 billion**.
– **Net Earnings:** Decreased 6.5% to **$1.8 billion**.
– **Adjusted Net Earnings:** Increased 0.8% to **$2.2 billion**.
– **EBITDA:** Decreased 1.2% to **$4.0 billion**.
– **Adjusted EBITDA:** Increased 2.4% to **$4.3 billion**.
– **EPS:** Decreased 4.1% to **$3.73**.
– **Adjusted EPS:** Increased 3.5% to **$4.46**.
– **Cash Flow from Operations:** Decreased 16.0% to **$2.5 billion**.
– **Free Cash Flow:** Decreased 18.7% to **$1.8 billion**.
– **Returned Capital to Shareholders:** Approximately **$2.3 billion** consisting of **$1.0 billion in dividends** and **$1.3 billion in share repurchases**.
### Additional Highlights
– **U.S. Foodservice Operations:**
– Sales increased 2.4% to **$14.8 billion**.
– Total case volume decreased 0.3%.
– Gross margin increased 8 basis points to **19.5%**.
– **International Foodservice Operations:**
– Sales increased 3.6% to **$3.9 billion**.
– Gross profit increased 7.6% to **$847 million**.
– Operating income increased 26.1% to **$145 million**.
– **Product Cost Inflation:** Recorded at 3.5%.
– **Dividend and Share Repurchase:** For FY26, Sysco plans to continue rewarding shareholders with approximately **$1 billion in dividends** and approximately **$1 billion in share repurchases**.
### Adjusted Metrics Explanation
– Adjusted financial results exclude certain items such as acquisition-related costs and restructuring charges, which impacted the operating and net earnings.
– The company’s outlook for FY26 includes expected sales growth of approximately 3% to 5%, and adjusted EPS growth of approximately 1% to 3%, barring any significant impacts on their operations.
### Conclusion
Sysco’s financial results for Q4 and FY2025 reflect mixed performance with some metrics showing growth while others face declines compared to the previous fiscal year. Continued challenges in the U.S. Foodservice segment underscore the company’s focus on transforming operations and enhancing shareholder value through dividends and share repurchases in the upcoming fiscal year.
### CONSOLIDATED RESULTS OF OPERATIONS
*(In Millions, Except for Share and Per Share Data)*
| 13-Week Period Ended | 52-Week Period Ended | |
|---|---|---|
| Jun. 28, 2025 | Jun. 28, 2025 | |
| Sales | $ 21,138 | $ 81,370 |
| Cost of sales | 17,152 | 66,401 |
| Gross profit | 3,986 | 14,969 |
| Operating expenses | 3,097 | 11,881 |
| Operating income | 889 | 3,088 |
| Interest expense | 166 | 635 |
| Other expense (income), net | 6 | 38 |
| Earnings before income taxes | 717 | 2,415 |
| Income taxes | 186 | 587 |
| Net earnings | $ 531 | $ 1,828 |
| Net earnings: | ||
| Basic earnings per share | $ 1.10 | $ 3.74 |
| Diluted earnings per share | 1.10 | 3.73 |
| Average shares outstanding | 482,335,556 | 488,144,333 |
| Diluted shares outstanding | 483,381,310 | 489,825,648 |
—
### CONSOLIDATED BALANCE SHEETS
*(In Millions, Except for Share Data)*
| Jun. 28, 2025 | Jun. 29, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $ 1,071 | $ 696 |
| Accounts receivable, less allowances of | 5,502 | 5,324 |
| Inventories | 5,053 | 4,678 |
| Prepaid expenses and other current | 338 | 323 |
| assets | ||
| Income tax receivable | 4 | 22 |
| Total current assets | 11,968 | 11,043 |
| Plant and equipment at cost, less accumulated depreciation | 6,084 | 5,497 |
| Other long-term assets | ||
| Goodwill | 5,231 | 5,153 |
| Intangibles, less amortization | 1,080 | 1,188 |
| Deferred income taxes | 497 | 445 |
| Operating lease right-of-use assets, net | 1,131 | 923 |
| Other assets | 783 | 668 |
| Total other long-term assets | 8,722 | 8,377 |
| Total assets | $ 26,774 | $ 24,917 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Accounts payable | $ 6,512 | $ 6,290 |
| Accrued expenses | 2,268 | 2,226 |
| Accrued income taxes | 51 | 131 |
| Current operating lease liabilities | 136 | 125 |
| Current maturities of long-term debt | 949 | 469 |
| Total current liabilities | 9,916 | 9,241 |
| Long-term liabilities | ||
| Long-term debt | 12,360 | 11,513 |
| Deferred income taxes | 345 | 345 |
| Long-term operating lease liabilities | 1,049 | 838 |
| Other long-term liabilities | 1,247 | 1,089 |
| Total long-term liabilities | 15,001 | 13,785 |
| Commitments and contingencies | ||
| Noncontrolling interest | 27 | 31 |
| Shareholders’ equity | ||
| Preferred stock, par value $1 per share | — | — |
| Authorized 1,500,000 shares, issued none | ||
| Common stock, par value $1 per share | ||
| Authorized 2,000,000,000 shares, issued | 765 | 765 |
| 765,174,900 shares | ||
| Paid-in capital | 1,986 | 1,908 |
| Retained earnings | 13,061 | 12,260 |
| Accumulated other comprehensive loss | -1,098 | -1,339 |
| Treasury stock at cost, 287,678,658 and 273,416,685 shares | -12,884 | -11,734 |
| Total shareholders’ equity | 1,830 | 1,860 |
| Total liabilities and shareholders’ equity | $ 26,774 | $ 24,917 |
