Aramark, a leading food, facilities, and uniform-services company, has reported excellent financial results for its fiscal fourth quarter. The company experienced higher earnings and double-digit organic sales growth, attributable to increased prices and new business opportunities.
Impressive Profit and Sale Figures
In the quarter that ended on September 30, Aramark recorded a profit of $205.4 million, or 78 cents per share. This represents a significant increase compared to $75.8 million, or 29 cents per share, during the same period in the previous year. When excluding one-time items, adjusted earnings reached 64 cents per share, aligning with the consensus estimate provided by analysts polled by FactSet.
The company’s quarterly revenue also saw a remarkable rise, reaching $4.9 billion compared to $4.39 billion last year. This surpassed analyst predictions of $4.79 billion, according to FactSet. The impressive 12% increase in revenue was fueled by higher prices, the acquisition of new business opportunities, and growth within its existing customer base. Additionally, currency translation contributed an additional $19 million to the revenue.