Aramark: Reports First Quarter 2023 Earnings

Philadelphia / PA. (arm) Aramark reported first quarter fiscal 2023 results. «We began the year as we ended the last one, focused on our principal strategic objective: to drive profitable growth,» said Chief Executive Officer John Zillmer. «Our performance in the quarter reflected continued financial and operational momentum in the business despite a challenging macro-environment, which is a testament to the commitment of our talent across the globe to provide exceptional service to clients. I couldn’t be more proud of our team members, who go out every day and show what makes Aramark so remarkable.»

Consolidated revenue was USD 4.6 billion in the first quarter, an increase of 17 percent year-over-year, driven by net new business, pricing, and base business growth. A stronger dollar in the period impacted revenue results by USD 129 million, partially offset by the USD 72 million contribution of Union Supply Group, which was acquired in June 2022. Organic revenue, which adjusts for the effect of currency translation and certain acquisitions, grew 18 percent year-over-year compared to the prior year period.

For additional information please read the Company’s PDF file below (401 KB):