Aramark: Reports Third Quarter 2020 Earnings

Philadelphia / PA. (arm) Aramark reported third quarter fiscal 2020 results. «I am encouraged by how well the Company continues to navigate the complexities and challenges of the current environment. Our balance sheet and new business pipeline remain strong, and we have taken strategic actions to fortify Aramark for the future,» said Chief Executive Officer John Zillmer. «I am also proud of how our team members have remained focused on serving our client partners and communities in the face of significant adversity.»

Third Quarter Summary

• Strong cash flow management and liquidity
  • Disciplined business actions led to Cash provided by operating activities of USD 17 million and minimal Free Cash Flow use of USD 37 million in the third quarter
  • Positive cash flow since bond issuance in late April
  • Over USD 2.5 billion cash availability at quarter-end
• Sequential monthly revenue improvement in the third quarter
  • Revenue (46.3) percent; Organic Revenue (45.3) percent
  • Increasing activity particularly in Uniforms, International, Education and Leisure
• EPS of USD (1.01); Adjusted EPS of USD (0.69)
  • GAAP EPS included USD 125 million severance charges related to organizational realignment
  • AOI drop-through consistent with Company’s expectations
• Launched EverSafe™ proprietary platform
  • Provides reopening solution for clients that maintains superior hygienic standards
  • Developed in partnership with Jefferson Health in accordance with leading global health organizations

For additional information please read the Company’s PDF file below (116 KB):

20200804-ARAMARK-Q3-2020.