Aramark: Reports Second Quarter 2023 Earnings

Philadelphia / PA. (arm) Aramark reported second quarter fiscal 2023 results. «Now halfway through the fiscal year, we continue to make progress on our strategic priorities, resulting in strong business performance, additional balance sheet optimization, and positioning the Uniforms Services spin-off for success,» said John Zillmer, Chief Executive Officer. «Everything we do starts with our people and their commitment to our hospitality culture, and I see the results of that unwavering focus every day.»

Consolidated revenue was USD 4.6 billion in the second quarter, an increase of 19 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 76 million, largely offset by the USD 67 million revenue contribution from Union Supply Group, which was acquired in June 2022. Organic revenue, which adjusts for the effect of currency translation and certain acquisitions, grew 19 percent year-over-year compared to the prior year period.

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