Aramark Services Reports Strong Q4 Results

Aramark Services (NYSE:ARMK) reported its Q4 results yesterday, with revenue of $4.4 billion coming in better than the Street estimate of $4.09 billion. EPS of $0.49 was in line with expectations.

Consolidated revenue grew 24% year-over-year. Organic revenue, which adjusts for the currency translation effect and certain acquisitions impact, was up 26% year-over-year.

According to John Zillmer, Aramark's CEO, management is pleased with the company’s performance during the quarter and throughout 2022 as it reported the highest-ever annual revenue, a second consecutive year of record Net New Business, and continued margin expansion. Management is confident in its momentum, guiding to 11-13% organic growth in fiscal 2023, alongside 100 bps of margin expansion.