Aramark Services (ARMK) Tops Q1 EPS by 2c, Revenues Beat; Raises FY19 EPS Guidance, Affirms FY19 FCF

Aramark Services (NYSE: ARMK) reported Q1 EPS of $0.63, $0.02 better than the analyst estimate of $0.61. Revenue for the quarter came in at $4.27 billion versus the consensus estimate of $4.2 billion.

• Revenue +8%; Legacy Business Revenue +4%1
• Operating Income 72%; Adjusted Operating Income (AOI) +21%1
• EPS -15% to $0.99; Adjusted EPS +16%1 to $0.63
• Operating Income Margin up 330 bps to 8.8%; AOI Margin up 60 bps to 6.9%1
• Raising Full-Year Outlook

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

Foss added: “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."

GUIDANCE:

Aramark Services sees FY2019 EPS of $2.30-$2.40, versus the consensus of $2.36.

For earnings history and earnings-related data on Aramark Services (ARMK) click here.

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