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Aramark Profit And Sales Climb In First Quarter; Foodservice Grows 7%

Posted On: 2/10/2014

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TAGS: vending, foodservice, Aramark first quarter, Aramark Holdings Co., Aramark IPO, Aramark's foodservice sales, Eric J. Foss

PHILADELPHIA -- Aramark Holdings Co. showed a 4% increase in net income in the first quarter of 2014, its first reporting period since returning to the public market.

For the three months ended Dec. 27, Aramark net income rose to $44.9 million, or 21¢ a share, from $43.2 million, or 20¢ a share, in the year-earlier period.

Aramark's revenue climbed 6% to $3.8 billion from $3.5 billion a year ago. The 2014 first quarter benefited in part from a favorable comparison after 2013 first-quarter sales fell 2% as a result of Hurricane Sandy and the NHL lockout last year.

Aramark's foodservice sales in North America in the 2014 first quarter were $2.6 billion, up 7% year over year. The company said growth was particularly solid in the education, sports, leisure and corrections sectors. International foodservice sales also rose 7%, to $775.6 million, led by double-digit growth in emerging markets and expansion in Europe.

"We continue to win new business and achieve high client retention rates, which drove broad-based topline growth across our segments and geographies," commented Eric J. Foss, Aramark president and chief executive. "At the same time, our productivity programs and repeatable business model are driving margins and profit improvements."

Aramark completed its initial public offering and listing on the New York Stock Exchange in December, marking the third time it's gone public. | SEE STORY

On Feb. 4, Aramark's board of directors declared a 7.5¢ dividend per share of common stock, payable on March 11 to shareholders of record at the close of business Feb. 18.