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February 6, 2019

Aramark reports $4.3bn revenue in Q1 2019

US-based foodservice company Aramark has reported revenue of $4.3bn in the first quarter of 2019 ending 28 December 2018, an 8% increase from the same period in the previous year.

US-based foodservice company Aramark has reported revenue of $4.3bn in the first quarter of 2019 ending 28 December 2018, an 8% increase from the same period in the previous year.

The catering company has also reported operating income of $373.36m, a 72% rise from $216.87m for the same period in the previous year.

The restaurant company also reported a net income of $250.67m, compared to $292.44m for the same quarter of 2018.

On a GAAP basis, the stronger US dollar value decreased the revenue by nearly $59m, and also showed a negative impact of approximately $3m on operating income.

“As we look ahead to the full year, we expect to deliver solid financial performance that will drive sustainable shareholder value.”

In addition, basic earnings per share attributable to Aramark stockholders were at $1.02, while diluted earnings per share were $0.99 for the first quarter.

Aramark chairman, president and CEO Eric J Foss said: “2019 is off to a good start, with broad-based momentum across the portfolio, driven by strong base business performance and progress in our integration of Avendra and AmerPride.

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“We continue to elevate the consumer experience by enhancing our product offerings, obsessing on service excellence, and innovating with new technologies. We now expect our full-year Adjusted EPS outlook to be $2.30 to $2.40.

“Aramark benefits from an advantaged business model and excellent financial flexibility. As we look ahead to the full year, we expect to deliver solid financial performance that will drive sustainable shareholder value.”

Furthermore, the foodservice company has received $293m of proceeds from the sale of its Healthcare Technologies business. It used a majority of the proceedings to reduce debt.

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