Aramark Reports Strong Second-Quarter Earnings And Reaffirms 2016 Outlook

PHILADELPHIA -- Aramark's net income for the second quarter of 2016 climbed to $96 million, or 39¢ per share, compared with $91 million, or 37¢ per share, in the second quarter of 2015.

The contract foodservice giant's sales for the quarter, ended April 1, were $3.58 billion, down slightly from $3.59 billion a year earlier.

The stronger U.S. dollar versus the prior year period decreased sales by approximately $67 million, operating income by $4 million and earnings per share by $0.01 in the quarter.

The company said it continued to drive solid productivity gains from food, labor and overhead initiatives in the second quarter, particularly in its North American facilities support services locations.

"Despite a challenging global macro environment, the combination of our resilient business model and focused strategy is driving improved innovation and customer satisfaction," said Aramark president and chief executive Eric J. Foss.

Aramark's outlook for 2016 adjusted EPS remains unchanged within a range of $1.65 to $1.75 per share.