September 17, 2014 11:53 PM ET

Hotels, Restaurants and Leisure

Company Overview of Aramark

Company Overview

Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients primarily in North America. The company offers managed services, including dining, catering, food service management, convenience-oriented retail operations, grounds and facilities maintenance, custodial, energy and construction management, and capital project management. It also provides non-clinical support services, such as patient food and nutrition, and retail food services; and facilities services comprising clinical equipment maintenance, environmental, laundry and linen distribution, plant operations, strategic/technical, energy and supply ...

ARAMARK Tower

1101 Market Street

Philadelphia, PA 19107

United States

Founded in 1959

162,200 Employees

Phone:

215-238-3000

Key Executives for Aramark

Chief Executive Officer
Age: 56
Total Annual Compensation: $4.0M
Chief Financial Officer and Executive Vice President
Age: 62
Total Annual Compensation: $1.6M
Executive Vice President
Age: 56
Total Annual Compensation: $981.0K
Chief Accounting Officer
Age: 50
Total Annual Compensation: $359.3K
Senior Vice President of Finance
Age: 47
Total Annual Compensation: $269.4K
Compensation as of Fiscal Year 2013.

Aramark Key Developments

Aramark Secures Contract with the Bangor Area School District in Northampton County, PA

Aramark has secured a contract with the Bangor Area School District in Northampton County, PA. The one-year contract, which is expected to save the school district more than USD 65,000, calls for Aramark to manage the district's five cafeterias and food purchasing operations. The deal contains a provision requiring Aramark to retain all current staff recommended by the school district at current wages.

Aramark Announces Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended June 27, 2014; Revised Earnings Guidance for the Full Year of 2014

Aramark announced consolidated unaudited earnings results for the third quarter and nine months ended June 27, 2014. For the quarter, the company reported sales of $3,620,057,000 compared with $3,490,030,000 for the same period a year ago. Operating income was $141,283,000 compared with $123,596,000 for the same period a year ago. Income before income taxes was $70,097,000 compared with $42,679,000 for the same period a year ago. Net income attributable to Aramark stockholders was $46,873,000 or $0.19 per diluted share compared with $27,748,000 or $0.13 per diluted share for the same period a year ago. Adjusted operating income was $192,352,000 compared with $175,465,000 for the same period a year ago. Adjusted EBITDA was $288,743,000 compared with $272,575,000 for the same period a year ago. Adjusted net income attributable to Aramark stockholders was $77,770,000 compared with $59,129,000 for the same period a year ago. For the nine months, the company reported sales of $10,885,145,000 compared with $10,429,682,000 for the same period a year ago. Operating income was $419,312,000 compared with $379,130,000 for the same period a year ago. Income before income taxes was $162,699,000 compared with $37,738,000 for the same period a year ago. Net income attributable to Aramark stockholders was $104,551,000 or $0.45 per diluted share compared with $30,458,000 or $0.15 per diluted share for the same period a year ago. Net cash used in operating activities was $17,440,000 compared with net cash provided by operating activities of $136,326,000 for the same period a year ago. Net purchases of property and equipment, client contract investments and other was $310,510,000 compared with $254,851,000 for the same period a year ago. Adjusted operating income was $649,724,000 compared with $583,336,000 for the same period a year ago. Adjusted EBITDA was $937,918,000 compared with $871,449,000 for the same period a year ago. Adjusted net income attributable to Aramark stockholders was $264,507,000 compared with $182,720,000 for the same period a year ago. The company revised earnings guidance for the full year of 2014. Based upon third quarter results, the company is raising its expected 53-week adjusted earnings per share range to $1.45-$1.50 for fiscal 2014. CapEx for the year will be in the range of about 0.5% of sales above expectations going into the year.

Aramark Declares Quarterly Dividend Payable on September 9, 2014

The Board of Directors of Aramark declared a quarterly dividend of $0.075 per share payable on September 9, 2014, to shareholders of record at the close of business on August 19, 2014.

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