Aramark Q2 Income Dips, Sales Climb

Posted On: 5/15/2018

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PHILADELPHIA -- Aramark posted $27.57 million in net income in the fiscal 2018 second quarter, down from $70 million in the comparable 2017 period. Second quarter sales ticked up slightly to $3.9 billion from $3.6 billion year over year.

The contract foodservice giant said a weaker U.S. dollar increased sales by approximately $89 million, and had a positive impact on adjusted operating income of $2 million.  

During the quarter, the company completed the acquisition of AmeriPride and borrowed a total of $1.15 billion to finance the acquisition and related fees and expenses.

In its food and facilities support services division, sales in the U.S. climbed 3% to $2.51 million from $2.43 million. In the international food and facilities support services business, sales grew 15% to $925 million from $807 million a year earlier.
         
"We continue to see broad-based momentum in the business, which led to another quarter of solid performance," said Aramark president and chief executive Eric J. Foss. "Our focus on quality, convenience and healthy options is increasing customer satisfaction, and our ongoing productivity enhancements drove further improvement in margins. Looking forward, we are raising our full-year adjusted EPS outlook due to improved productivity in the legacy business."

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