Aramark Services (ARMK) Tops Q2 EPS by 1c, Withdraws Outlook

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Go back to Aramark Services (ARMK) Tops Q2 EPS by 1c, Withdraws Outlook

Aramark Reports Second Quarter Earnings

May 5, 2020 6:30 AM EDT

Performance In Line with Preliminary Results Announced April 22, 2020

SUMMARY

Year-over-year GAAP Operating Income (Loss) and EPS includes a pre-tax non-cash goodwill impairment of $199 million in the reporting unit within the International segment that was identified as having undergone additional impairment testing in the Company's 2019 Form 10-K.

Quarterly results reflect initial impact of COVID-19.

Amended Debt Covenant and Increased Cash Availability in April Fully drew down $1 billion revolver in quarter and subsequently issued $1.5 billion of Senior Notes Amended secured debt covenant in credit facility... More