Aramark Holdings Corp Down 7.29% To $26.58 After Earnings Meet

Tuesday, November 14, 2023 - Aramark Holdings Corp (ARMK) reported in line earnings and upside revenues.

Wall Street earnings per share (EPS) projections for Aramark Holdings Corp were at $0.64. The company missed those estimates with an EPS of $0.64. The earnings per share of $0.64 (which represents a -0% EPS surprise) led to the company's profits rising 33% compared to last year when the firm reported an EPS of $0.48. The increase in Aramark Holdings Corp's annual growth rate represents how the business is performing well amid recent economic conditions.

Revenues were upbeat at $4.9 billion. That is an increase of 11.66% in revenues from the year-ago report and is 2.34% higher than consensus estimates set at $4.8 billion.

The stock is down 7.29% to $26.58 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Aramark Holdings Corp has performed a little above average during the past few months. Before the report, Aramark Holdings Corp received a Long-Term Technical Rank by InvestorsObserver of 64, putting it in the top half of stocks. The firm set a 52-week low on March 17, 2023 at $23.55 and set a 52-week high on January 17, 2023 at $33.01.

Aramark provides food, facilities, and uniform services to a variety of clients and institutions. The majority of company revenue comes from its North American food and support services segment. Smaller but substantial segments include food and support services international and uniform and career apparel. The food and support services segments provide food for school districts; colleges; healthcare facilities; correctional institutions; and business, sports, and entertainment venues. The uniform segment rents, delivers, cleans, and maintains work clothes and ancillary items like towels and mats to customers in North America and Japan. The company has hundreds of service locations and distribution centers across the United States and Canada.