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Aramark Q3 Sales, Profit Climb

Posted On: 8/12/2014

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TAGS: vending, food service, Aramark third-quarter sales, Aramark profit, uniform apparel business, Eric J. Foss

PHILADELPHIA -- Aramark reported strong third-quarter sales and profit growth. Adjusted net income for the period ended June 27 was $77.8 million, or 32¢ a share, compared with $59.4 million, or 28¢ per share, in the same 2013 period. Sales were $3.6 billion, up from $3.5 billion year over year.

Sales in Aramark's North American food and support services segment were $2.5 billion, up 4% on an organic basis, with growth particularly notable in the education, healthcare and sports, leisure and corrections sectors.

International food and support services segment sale were $765.2 million, and Aramark's uniform apparel business posted a 3% increase in sales to $367.1 million.

"I am pleased to report another quarter of strong business results achieved within a challenging consumer and economic environment," said Aramark president and chief executive Eric J. Foss. "Our performance reflects solid execution against a sound strategy and was broad-based across the segments and geographies of our portfolio."

The Philadelphia-based contract foodservice giant also raised its earnings outlook range for the current fiscal year to $1.45 to $1.50 a share, from $1.35 to $1.45 a share.