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Aramark Launches New Telehealth Program to Digitally Connect Hospital Inpatients with Clinical Nutrition Services
Businesswire· 2024-01-08 12:30
Program Overview - Aramark announced a new program to remotely connect clinical dietitians with hospital patients using cloud-based technologies [1] - The program includes a technology service agreement with Teladoc Health, leveraging Teladoc's Solo platform integrated with Microsoft Teams [1] - Hospitals must have a clinical nutrition service agreement with Aramark to participate [1] Program Benefits - The program enables vulnerable patients in underserved areas to receive better care by removing technology and location barriers [2] - Hospitals gain access to regulatory-compliant medical nutrition therapy, trained dietitians, Teladoc hardware, services, technical support, and remote device monitoring [2] - The program helps recruit more clinical dietitians by allowing them to work across a wide range of clients in licensed states [3] Pilot Example - At the University Medical Center in Lubbock, Texas, a vacant clinical dietitian position typically takes 6 months to fill [3] - Using the program, a clinician temporarily relocated to another part of Texas was able to continue working full-time as a pediatric dietitian [3] - The clinician completed all program requirements within two months and remains a vital part of the medical team [3] Industry Impact - Clinical dietitians are in high demand, especially in rural areas facing hiring shortages [3] - The program helps hospitals retain difficult-to-recruit dietitians and maintain high-quality patient care [4] Company Background - Aramark Healthcare+ serves over 600 healthcare facilities in the US, offering food services, environmental services, and facilities management [5] - The company focuses on improving patient outcomes through hospitality, science, and culinary expertise [5] - Aramark operates in 18 countries, serving educational institutions, Fortune 500 companies, sports teams, healthcare providers, and cultural attractions [6] - The company has been recognized for diversity, responsibility, and LGBTQ equality [7]
Aramark(ARMK) - 2023 Q4 - Annual Report
2023-11-20 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________ FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ___________________________________________ For the fiscal year ended September 29, 2023 Commission File Number: 001-36223 | --- | --- | --- | |-----------------------------------------------------|------- ...
Aramark(ARMK) - 2023 Q4 - Earnings Call Transcript
2023-11-14 19:32
Aramark (NYSE:ARMK) Q4 2023 Earnings Conference Call November 14, 2023 8:30 AM ET Company Participants Felise Kissell - Senior Vice President, Investor Relations & Corporate Development John Zillmer - CEO Tom Ondrof - CFO Conference Call Participants Harry Martin - Bernstein Neil Tyler - Redburn Atlantic Ian Zaffino - Oppenheimer Andrew Steinerman - JPMorgan Heather Balsky - BOA Andrew Wittmann - Baird Toni Kaplan - Morgan Stanley Shlomo Rosenbaum - Stifel Josh Chan - UBS Stephanie Moore - Jefferies Operato ...
Aramark(ARMK) - 2023 Q4 - Earnings Call Presentation
2023-11-14 19:31
Inquiries: For Immediate Release Felise Kissell Scott Sullivan (215) 409-7287 (215) 238-3953 Kissell-Felise@aramark.com Sullivan-Scott@aramark.com Aramark Reports Fourth Quarter and Full Year Fiscal 2023 Results Q4 YEAR-OVER-YEAR SUMMARY • Revenue +12%; Organic Revenue +11% ◦ Global FSS +12%1; Uniform Services +5%1 • Operating Income +40%; Adjusted Operating Income (AOI) +28%1 ◦ Global FSS AOI +33%1; Uniform Services AOI +15%1 • EPS +169% to $0.78; Adjusted EPS +34%1 to $0.64 ◦ GAAP EPS included a gain on s ...
Aramark(ARMK) - 2023 Q3 - Earnings Call Presentation
2023-08-10 16:35
Aramark Business Review Forward-Looking Statements SpecialNoteAboutForward-LookingStatements Thispresentationcontains"forward-lookingstatements"withinthemeaningofthePrivateSecuritiesLitigationReformActof1995.Thesestatementsreflectourcurrentexpectationsastofutureeventsbasedon certainassumptionsandincludeanystatementthatdoesnotdirectlyrelatetoanyhistoricalorcurrentfact.Thesestatementsinclude,butarenotlimitedto,statementsundertheheadings“HittingKeyStrategic Milestones,”“Fiscal2023Outlook,"and“QuarterlyCadenceo ...
Aramark(ARMK) - 2023 Q3 - Earnings Call Transcript
2023-08-08 18:32
Aramark (NYSE:ARMK) Q3 2023 Earnings Conference Call August 8, 2023 8:30 AM ET Company Participants Felise Kissell - Vice President, Investor Relations & Corporate Development John Zillmer - Chief Executive Officer Tom Ondrof - Chief Financial Officer Conference Call Participants Harry Martin - Bernstein Andrew Steinerman - JPMorgan Heather Balsky - Bank of America Ian Zaffino - Oppenheimer Toni Kaplan - Morgan Stanley Shlomo Rosenbaum - Stifel Neil Tyler - Redburn Faiza Alwy - Deutsche Bank Leo Carrington ...
Aramark(ARMK) - 2023 Q3 - Quarterly Report
2023-08-07 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________ FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |-----------------------------------------------------------------------|---------------------------------------------------------------- ...
Aramark(ARMK) - 2023 Q2 - Earnings Call Transcript
2023-05-09 18:19
Aramark (NYSE:ARMK) Q2 2023 Earnings Conference Call May 9, 2023 8:30 AM ET Company Participants Felise Kissell - Vice President of Investor Relations and Corporate Development John Zillmer - Chief Executive Officer Tom Ondrof - Chief Financial Officer Conference Call Participants Toni Kaplan - Morgan Stanley Heather Balsky - Bank of America Ian Zaffino - Oppenheimer Neil Tyler - Redburn Andrew Steinerman - JPMorgan Shlomo Rosenbaum - Stifel Jaafar Mestari - BNP Paribas Exane Harry Martin - Bernstein Leo Ca ...
Aramark(ARMK) - 2023 Q2 - Earnings Call Presentation
2023-05-09 14:21
Aramark Business Review MAY 2023 Forward-Looking Statements Special Note About Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations as to future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. These statements include, but are not limited to, statements under the heading "Outl ...
Aramark(ARMK) - 2023 Q2 - Quarterly Report
2023-05-08 16:00
Revenue Growth - Revenue for the three months ended March 31, 2023, was $4,602.1 million, an increase of 19.2% from $3,860.5 million for the same period in 2022[9] - Total revenue for the six months ended March 31, 2023, was $9,203.1 million, an increase from $7,808.8 million for the same period in 2022, representing a growth of approximately 17.8%[75] - Revenue from the United States for the six months ended March 31, 2023, was $5,764.2 million, up from $4,763.7 million in the prior year, indicating a growth of about 21.0%[61] - FSS United States segment revenue for the three months ended March 31, 2023, was $2,843.2 million, an increase from $2,338.3 million in the same period of 2022, marking a growth of about 21.6%[78] - FSS International revenue grew by 23.2% to $1,073.0 million for the three months ended March 31, 2023, up from $870.9 million in the same period last year[102] Income and Earnings - Net income attributable to Aramark stockholders for the three months ended March 31, 2023, was $56.0 million, compared to $35.7 million for the same period in 2022, representing a 56.5% increase[9] - Net income for the six months ended March 31, 2023, was $129.5 million, compared to $78.3 million for the same period in 2022, representing a 65.5% increase[15] - Earnings per share attributable to Aramark stockholders for the six months ended March 31, 2023, was $0.50, up from $0.31 for the same period in 2022, reflecting a 61.3% increase[10] - Net income for the three months ended March 31, 2023, was $55.9 million, compared to $35.5 million for the same period in 2022[28] Operating Performance - Operating income for the six months ended March 31, 2023, was $381.6 million, up 35.2% from $282.2 million for the same period in 2022[10] - Operating income for the FSS United States segment increased by approximately $73.9 million and $138.1 million during the three and six month periods of fiscal 2023, primarily due to growth in base business and effective cost management[112] - Operating income by segment for FSS United States increased by 89.9% to $156.0 million for the three months ended March 31, 2023, compared to $82.1 million in the prior year[102] Costs and Expenses - The cost of services provided for the six months ended March 31, 2023, was $8,341.5 million, an increase of 18.1% from $7,062.3 million for the same period in 2022[10] - Interest and other financing costs for the three months ended March 31, 2023, were $114.0 million, compared to $89.7 million for the same period in 2022, indicating a 27.0% increase[9] - The company reported depreciation and amortization expenses of $273.3 million for the six months ended March 31, 2023, slightly up from $267.8 million in the same period last year[15] Cash Flow and Investments - Net cash used in operating activities increased to $292.7 million for the six months ended March 31, 2023, compared to $128.3 million for the same period in 2022[15] - The company reported a net cash used in investing activities of $225.9 million for the six months ended March 31, 2023, compared to $289.8 million for the same period in 2022, indicating a decrease of 22.1%[15] - Cash and cash equivalents at the end of the period were $302.7 million, down from $429.3 million at the end of the previous year[15] Strategic Initiatives - The company anticipates continued growth driven by strategic market expansions and new product developments in the upcoming quarters[6] - The proposed spin-off of Aramark Uniform Services is expected to create additional value for stockholders, with anticipated benefits and costs being closely monitored[6] - The company intends to spin off its Uniform segment into an independent publicly traded company, expected to be completed in the fourth quarter of fiscal 2023[25] Foreign Currency and Adjustments - The company reported a foreign currency translation adjustment of $10.2 million for the three months ended March 31, 2023, compared to $6.4 million for the same period in 2022[12] - The effect of foreign exchange rates on cash and cash equivalents was a positive $477.3 million for the six months ended March 31, 2023, compared to $317.8 million in the same period last year[15] - Foreign currency translation adjustments contributed $10.2 million to comprehensive income for the three months ended March 31, 2023[28] Shareholder Returns - The company approved a dividend of $0.11 per share on May 2, 2023, payable on May 31, 2023, to stockholders of record on May 17, 2023[65] - The net of tax gain expected to be reclassified from "Accumulated other comprehensive loss" into earnings over the next twelve months is approximately $42.8 million[57] Accounting and Compliance - The Company adopted new accounting standards related to government assistance, effective in the first quarter of fiscal 2023, which did not have a material impact on financial statements[28] - The Company is evaluating the impact of new accounting standards related to supplier finance programs, effective in the first quarter of fiscal 2024[28]