Aramark: Reports Third Quarter 2023 Earnings

Philadelphia / PA. (arm) Aramark reported Q3-2023 results. «Aramark’s third quarter results reflect our continued focus on profitable growth across the organization,» said John Zillmer, Chief Executive Officer. «With signs of inflation moderating, and our pricing actions taking hold, we are increasingly confident in the ramp in profitability as we finish the fiscal year. I am extremely proud of our teams across the globe, which exemplify our performance-driven culture that contributed to our raised outlook expectations. We believe that we are well positioned to capitalize on the substantial opportunities ahead.»

Consolidated revenue was USD 4.7 billion in the third quarter, an increase of 15 percent year-over-year, driven by net new business, pricing actions, and base business growth. Revenue growth results included an incremental USD 47 million contribution from Union Supply Group, which was acquired in June 2022. A stronger dollar in the period impacted revenue by USD 21 million. Organic revenue, which adjusts for the effect of currency translation and certain acquisitions, grew 14 percent year-over-year compared to the prior year period. For additional information please read the Company’s PDF file below (267 KB):