The biggest changes in the 10-K filed 2026-07-01, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Operating margin
17.0% → 4.8% (-12.2 pts) Big change FY to 2026-05-31 vs 2025-05-25“Segment operating profit increased 96 percent to $189 million in fiscal 2026 compared to $96 million in 2025, primarily driven by”
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Net income
-103.8% Big change FY to 2026-05-31 vs 2025-05-25“Net earnings attributable to noncontrolling interests decreased to $2 million in fiscal 2026 compared to $24 million in fiscal 2025.”
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Cash from operations
-25.8% Big change FY to 2026-05-31 vs 2025-05-25The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Revenue
-5.4% FY to 2026-05-31 vs 2025-05-25“Net sales in fiscal 2026 decreased 5 percent compared to fiscal 2025, driven by a decrease in contributions from volume growth,”
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“Organic net sales in fiscal 2026 decreased 2 percent compared to fiscal 2025, driven by a decrease in contributions from organic”
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Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
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