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Aramark Income Sales Rise In Q1

PHILADELPHIA -- Aramark reported net income of $292 million for the first quarter of 2018, up from $125 million a year earlier. Sales were $4 billion compared with $3.7 billion in the 2017 first quarter. "2018 is off to a solid start with strong, broad-based revenue growth across all of our segments, as we continue to execute against our clear and focused strategy," said Aramark president and chief executive Eric J. Foss. "We are generating improved customer satisfaction by consistently enhancing our pro...

February 6, 2018

PHILADELPHIA -- Aramark reported net income of $292 million for the first quarter of 2018, up from $125 million a year earlier. Sales were $4 billion compared with $3.7 billion in the 2017 first quarter.

"2018 is off to a solid start with strong, broad-based revenue growth across all of our segments, as we continue to execute against our clear and focused strategy," said Aramark president and chief executive Eric J. Foss. "We are generating improved customer satisfaction by consistently enhancing our product offerings, expanding our focus on health and wellness, and innovating new technologies to boost speed of service and elevate the overall experience."

The Philadelphia-based contract foodservice and facilities maintenance giant said it continued to drive productivity improvements in United States and international base accounts, while reinvesting in technology and capabilities.  In the U.S., however, these improvements were "more than offset by start-up costs associated with onboarding of multiple new accounts."

Aramark increased its outlook for 2018 adjusted earnings per share by 5¢ to 10¢ to a range of $2.15 to $2.30 per share.