Aramark reports $8.26bn revenue in H1 2019

9th May 2019 (Last Updated May 9th, 2019 11:50)

US-based foodservice company Aramark has reported revenue of $8.26bn in the first half of this year (H1 2019) ending 29 March 2019, compared to $7.9bn for the same period during the previous year.

Aramark reports $8.26bn revenue in H1 2019
Aramark reports revenue of $8.26bn in the first half of this year. Credit: Philip Matarese.

US-based foodservice company Aramark has reported revenue of $8.26bn in the first half of this year (H1 2019) ending 29 March 2019, compared to $7.9bn for the same period during the previous year.

The catering company has also reported operating income of $496.19m from $351.86m for the same period the previous year.

Also reporting a net income of $279.98m, compared to $320.15m for the same quarter of 2018.

Basic earnings per share attributable to Aramark stockholders were at $1.14, while diluted earnings per share were $1.11 for the first half.

Aramark chairman, president and CEO Eric J. Foss said: “We saw strong revenue growth in the quarter, while simultaneously making deliberate investments to support new and existing clients.

“We are making tangible progress on our transformational growth strategy, as we continue to innovate and strengthen our brand and product portfolio to create a consistently great customer experience.

“We are making tangible progress on our transformational growth strategy, as we continue to innovate and strengthen our brand and product portfolio to create a consistently great customer experience.”

“In the near term, we are taking strategic portfolio actions to optimize returns and focus on new opportunities in the marketplace.As demonstrated by our solid first half performance, we expect 2019 to be another year of growth across revenue, earnings, and cash flow.

“We also remain committed to bolstering our balance sheet and expect our leverage ratio to reach 3.8x by the end of the year.”

On a GAAP basis, Aramark’s revenue was $4bn in the second quarter ending 29 March 2019, due to growth in FSS International and Uniforms.

They also reported operating income of $122.83m, a 9% decline from $135m for the same period in the previous year.

The restaurant company also reported a net income of $29.31m, compared to $27.71m for the same quarter of 2018.

Basic earnings per share attributable to Aramark stockholders were at $0.12, while diluted earnings per share were $0.12 for the second quarter.