Aramark: Reports Q4 and Fiscal Year 2021 Results

Philadelphia / PA. (arm) Aramark reported fourth quarter and full-year fiscal 2021 results. «Our fourth quarter and full year results reflected the progress we have made across our business as organic revenue reached 87 percent of pre-Covid levels. The Company achieved record Net New Business performance across lines of business, geographies, and client size – demonstrating the execution of our strategic growth initiatives, which we are confident will position Aramark to drive higher sustainable growth and create meaningful value for our stakeholders,» said John Zillmer, Aramark’s Chief Executive Officer. «Despite the challenges presented over the last fiscal year, Aramark generated strong, steady performance due to our focus on innovation, ability to control costs and flex our business model to meet shifting client demands, and unwavering commitment to serving customers.»

Fiscal 2021 reflected business performance improvement over the course of the year with particular strength in the second half as all segments reported year-over-year revenue growth due to increased levels of business activity. Net New Business reached record levels, driven by increased new business wins and improved retention.

On a GAAP basis, revenue was USD 12.1 billion, operating income was USD 191 million, net loss attributable to Aramark stockholders was USD 91 million and diluted loss per share was USD 0.36. GAAP metrics in fiscal 2021 included approximately four months of operations from Next Level Hospitality. Comparatively, fiscal 2020 revenue was USD 12.8 billion, operating loss was USD 265 million, net loss attributable to Aramark stockholders was USD 462 million and diluted loss per share was USD 1.83. Fiscal 2020 GAAP results included a 53rd week of operations across all metrics and GAAP operating loss and diluted loss per share included certain non-cash impairment charges and costs related to organizational realignment.

Organic Revenue for the year was USD 11.8 billion with sequential improvement each quarter. Adjusted Operating Income of USD 292 million resulted in an AOI margin of 2.4 percent on a constant-currency basis, compared to 2.3 percent in fiscal 2020 at higher revenue levels. Disciplined cost management, the Company’s flexible operating model, and the ability to leverage operating efficiencies as sales volumes recovered throughout the year contributed to improved margin performance.

For additional information please read the Company’s PDF file below (157 KB):

20211117-ARAMARK-Q4-2021
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