Aramark: Reports Second Quarter 2020 Results

Philadelphia / PA. (arm) Aramark reported second quarter fiscal 2020 results. «Our hearts go out to everyone who has been impacted by Covid-19, most especially our employees, client partners and customers who have experienced personal and financial hardship,» said John Zillmer, Aramark’s Chief Executive Officer. «I am proud of the heroic efforts of our dedicated team members who are providing safe and hygienic food, uniforms and facility services during this challenging time.»

«Our financial performance demonstrates the resiliency of Aramark’s flexible business model, as well as our ability to adapt quickly to changing market conditions,» Zillmer added. «The proactive steps we have taken to navigate this difficult economic environment should position the Company to emerge stronger than ever.»

Second Quarter 2020 Results

Consolidated Revenue was USD 3.7 billion in the quarter, down 6.7 percent year-over-year, with underlying growth in the overall business more than offset by an estimated USD 325 million impact on business operations related to Covid-19. Organic Revenue, which adjusts for currency impact, declined 5.4 percent in the quarter.

• FSS United States experienced interruption primarily within Education, Business + Industry and Sports + Leisure, although most clients maintained operations on a limited basis that included alternative meal programs and services to essential businesses. Healthcare, Facilities and Corrections had relatively stable performance with increased demand across many locations.
• FSS International, with its diverse verticals across 18 countries, managed through different stages of the impact from Covid-19 as Germany and Spain were particularly affected due to government imposed shutdowns. China operations have largely recovered and been awarded new contracts based on the business’ response to Covid-19 and commitment to client services.
• Uniform + Career Apparel service continued for essential businesses with a heightened focus on safe and hygienic needs.

For additional information please read the Company’s PDF file below (186 KB):

20200507-ARAMARK-Q2-2020.