UPDATE: Aramark Services (ARMK) Misses Q4 EPS by 1c, Revenues Miss

Aramark Services (NYSE: ARMK) reported Q4 EPS of $0.70, $0.01 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $3.91 billion versus the consensus estimate of $3.96 billion.

FISCAL 2018 KEY HIGHLIGHTS

• Sales +8%; Constant Currency Sales +7%
• Operating Income +2%; Adjusted Operating Income (AOI) +15%1
• EPS +50% to $2.24; Adjusted EPS +14%1 to $2.25
• Operating Income Margin down 30 bps to 5.2%; AOI Margin up 46 bps to 7.05%1
• Aggressive De-leveraging to 4.1x After Two Strategic Acquisitions
• Board Increases Quarterly Dividend by 5%

“2018 was a record year, driven by balanced, broad-based business momentum. We delivered strong revenue growth, very strong AOI margin expansion and achieved our three-year margin target, as well as successfully integrated two strategic acquisitions ... all of which strengthens our portfolio and improves our competitive position," said Eric J. Foss, Chairman, President and CEO. "Our record performance led to the fifth consecutive year of double-digit adjusted EPS growth since our IPO.”

“In addition, solid free cash flow bolstered our balance sheet and enabled us to lower our leverage ratio below our original target for this year,” Foss continued. “While 2018 was an exceptional year, we are even more excited about our future prospects for growth and sustainable shareholder value creation.”

For earnings history and earnings-related data on Aramark Services (ARMK) click here.

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