Financial Data and Key Metrics Changes - The company reported organic revenue of $4.7 billion, an 18% increase year-over-year, with contributions from net new business (over 4%), pricing (approximately 6%), and higher base business volume (around 8%) [15][19] - Adjusted operating income was $242 million, reflecting a constant currency increase of 47% compared to the previous year, with an AOI margin improvement of just over 100 basis points to 5.3% [15][19] - Adjusted EPS was $0.44, nearly double the $0.23 reported in the first quarter of fiscal 2022 [18] Business Line Data and Key Metrics Changes - In the U.S. Food and Facilities segment, organic revenue increased by 18%, driven by strong performance across all sectors, particularly in Education and Workplace Experience [9][10] - The Uniform Services segment saw a 7% increase in organic revenue due to solid new business sales and retention rates [11] - International organic revenue rose by 28%, supported by consistent net new business performance and base business volume recovery [10] Market Data and Key Metrics Changes - The company experienced strong growth in the Workplace Experience group, with over 40% year-over-year growth driven by client pricing and higher meal participation rates [9] - Healthcare+ continued to perform exceptionally well, benefiting from increased visitor presence and substantial new business growth [10] - The international market showed recovery in lunchtime participation rates and a return of catering activities, contributing to the overall revenue growth [10] Company Strategy and Development Direction - The company plans to use proceeds from the sale of its non-controlling interest in AIM Services for accelerated debt repayment, which is expected to enhance operating focus and strengthen the balance sheet [7][20] - The management emphasized a commitment to managing cost structures and maximizing unit efficiencies to counter inflation [8] - The company is focused on identifying opportunities to enhance profitable growth and shareholder value, particularly in areas with non-controlling interests [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to grow the bottom line despite ongoing macroeconomic challenges, citing four key opportunities for improved profitability [17] - The company expects organic revenue growth between 11% and 13% for the full fiscal year, with adjusted operating income growth of 32% to 37% [21] - Management acknowledged persistent inflation, particularly in food costs, and indicated that pricing strategies would remain crucial in managing profitability [36][61] Other Important Information - The company released an ESG progress report highlighting commitments to diversity, community building, and responsible sourcing [13] - The recent election of Kevin Wills to the Board of Directors was noted as a strategic addition to the company's leadership [14] Q&A Session Summary Question: New business trends this quarter versus last quarter - Management noted that the first quarter is typically slower for new business development, especially in education, but the pipeline remains strong with many verbal wins [26] Question: Impact of divestiture on AOI for next year - The AOI impact from the AIM Services sale is expected to be less than $30 million for the full fiscal year, with interest savings expected to exceed $30 million [29] Question: AIM Services multiple and other opportunities - The AIM Services sale was driven by the ability to grow businesses without a controlling interest, and management is evaluating other joint venture opportunities [31][32] Question: Inflation outlook and pricing strategies - Management indicated that food inflation remains persistently high, and they expect to maintain pricing strategies to offset costs [36][37] Question: Revenue guidance and organic growth recovery - Management expects organic growth to ease gradually as the year progresses, with net growth staying in the 4% to 5% range [46] Question: Trends in retention by business unit - Retention rates are high across all business units, exceeding targeted ranges [57] Question: Long-term outlook and margin impact - The impact of AIM on margins is estimated to be about 20 basis points, with expectations of continued inflation management [60] Question: Customer appetite for outsourcing - There is a continued trend towards outsourcing due to cost pressures, providing significant new business potential [82]

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 December 30, 2022 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |-----------------------------------------------------------------------|------------------------------------------------------------ ...

Aramark (NYSE:ARMK) Q4 2022 Earnings Conference Call November 15, 2022 8:30 AM ET Company Participants Felise Kissell - IR & Corporate Affairs Executive John Zillmer - CEO & Director Thomas Ondrof - EVP & CFO Conference Call Participants Heather Balsky - Bank of America Ian Zaffino - Oppenheimer Andrew Steinerman - JPMorgan Toni Kaplan - Morgan Stanley Shlomo Rosenbaum - Stifel Neil Tyler - Redburn Andrew Wittmann - Baird Faiza Alwy - Deutsche Bank Ronan Kennedy - Barclays Stephanie Moore - Jefferies Operat ...

Aramark Corporation (NYSE:ARMK) Q3 2022 Earnings Conference Call August 9, 2022 8:30 AM ET Company Participants Felise Kissell - IR & Corporate Affairs Executive John Zillmer - CEO & Director Thomas Ondrof - EVP & CFO Conference Call Participants Toni Kaplan - Morgan Stanley Ian Zaffino - Oppenheimer Heather Balsky - Bank of America Merrill Lynch Harry Martin - Sanford C. Bernstein & Co. Hamzah Mazari - Jefferies Andrew Steinerman - JPMorgan Chase & Co. Shlomo Rosenbaum - Stifel, Nicolaus & Company Andrew W ...

Revenue and Income - Revenue for the three months ended April 1, 2022, was $3,860.5 million, a 37% increase from $2,819.7 million for the same period in 2021[9] - Net income attributable to Aramark stockholders for the three months ended April 1, 2022, was $35.7 million, compared to a loss of $77.6 million for the same period in 2021[9] - Total revenue for the six months ended April 1, 2022, was $7,808.8 million, an increase from $5,563.5 million for the same period in 2021[77] - Net income for the six months ended April 1, 2022, was $78.252 million, a significant improvement from a net loss of $159.043 million for the same period in 2021[15] - Comprehensive income attributable to Aramark stockholders for the six months ended April 1, 2022, was $173.6 million, compared to a loss of $106.6 million for the same period in 2021[12] Operating Performance - Operating income for the six months ended April 1, 2022, was $282.2 million, compared to a loss of $15.1 million for the same period in 2021[10] - Operating income for the three months ended April 1, 2022, was $142.0 million, compared to $5.4 million for the same period in 2021, reflecting a significant improvement[95] - Operating income increased by approximately $297.3 million during the six-month period ended April 1, 2022, driven by improved profitability from clients reopening after COVID-19 restrictions[105] Segment Performance - FSS United States segment revenue reached $2,338.3 million for the three months ended April 1, 2022, compared to $1,551.0 million in the prior year, marking a year-over-year growth of approximately 50.6%[61] - FSS International segment revenue increased to $870.9 million for the three months ended April 1, 2022, from $677.7 million in the same period of 2021, representing a growth of approximately 28.5%[61] - The Uniform segment generated revenue of $651.3 million for the three months ended April 1, 2022, compared to $591.0 million in the prior year, reflecting a growth of approximately 10.2%[61] Cash Flow and Financial Position - Net cash used in operating activities was $(128.267) million, compared to $221.861 million provided in the prior year, indicating a decline in cash flow[15] - Cash flows from investing activities resulted in a net cash outflow of $(289.819) million, up from $(175.710) million in the previous year, reflecting increased investments[15] - The company reported a decrease in cash and cash equivalents to $429.306 million at the end of the period, down from $1.400 billion a year earlier[15] - As of April 1, 2022, the company had $429.3 million of cash and cash equivalents and approximately $1,043.8 million of availability under its senior secured revolving credit facility[112] Shareholder Returns - Cash dividends paid to stockholders were approximately $56.5 million for the six months ended April 1, 2022, compared to $55.9 million for the same period in 2021[65] - The company made payments of dividends totaling $56.464 million, slightly up from $55.875 million in the previous year[15] Strategic Initiatives - The proposed spin-off of Aramark Uniform Services is expected to create additional value for stockholders, with ongoing evaluations of its impact on operations[6] - The Company plans to acquire Union Supply Group, Inc., a commissary goods and services supplier, with the transaction expected to close in the third quarter of fiscal 2022[83] - The company intends to spin off its Uniform segment into an independent publicly traded company, expected to be completed by the end of fiscal 2023[83] Challenges and Risks - The ongoing impact of COVID-19 on the company's operations remains uncertain, with potential effects on revenue and financial condition depending on future developments[88] - The company continues to adapt its business model in response to inflation and global supply chain disruptions, implementing pricing pass-through where appropriate[88] Accounting and Compliance - The company is currently evaluating the impact of several new accounting standards effective in fiscal 2024, including those related to troubled debt restructuring and contract assets[24] - The company adopted optional expedients related to the discontinuance of LIBOR, which may ease the accounting burden for contract modifications[25] - The company incurred $63.0 million in governmental labor-related tax credits due to the COVID-19 pandemic, net of labor charges and other expenses[126] Tax and Credits - The Company recorded a tax benefit of approximately $8.5 million during the six months ended April 1, 2022, due to the reversal of a valuation allowance at a foreign subsidiary[65] - The company recorded approximately $21.0 million and $33.2 million of labor-related tax credits in the FSS International segment during the three and six months ended April 1, 2022, respectively[36]

Aramark (NYSE:ARMK) Q2 2022 Earnings Conference Call May 10, 2022 8:30 AM ET Company Participants John Zillmer - CEO Thomas Ondrof - EVP and CFO Felise Kissell - VP of IR and Corporate Affairs Conference Call Participants Kevin McVeigh - Credit Suisse Stephen Grambling - Goldman Sachs Ian Zaffino - Oppenheimer Andy Wittmann - Baird Heather Balsky - Bank of America Andrew Steinerman - JPMorgan Toni Kaplan - Morgan Stanley Shlomo Rosenbaum - Stifel Jaafar Mestari - BNP Paribas Faiza Alwy - Deutsche Bank Harry ...