January 27, 2015 11:48 PM ET

Hotels, Restaurants and Leisure

Company Overview of Aramark

Company Overview

Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients primarily in North America. The company offers managed services, including dining, catering, food service management, convenience-oriented retail operations, grounds and facilities maintenance, custodial, energy and construction management, and capital project management. It also provides non-clinical support services, such as patient food and nutrition, and retail food services; and facilities services comprising clinical equipment maintenance, environmental, laundry and linen distribution, plant operations, strategic/technical, energy and supply ...

ARAMARK Tower

1101 Market Street

Philadelphia, PA 19107

United States

Founded in 1959

163,500 Employees

Phone:

215-238-3000

Key Executives for Aramark

Chief Executive Officer
Age: 56
Total Annual Compensation: $6.9M
Chief Financial Officer and Executive Vice President
Age: 62
Total Annual Compensation: $2.2M
Executive Vice President
Age: 56
Total Annual Compensation: $1.4M
Senior Vice President of Finance
Age: 47
Total Annual Compensation: $515.4K
Executive Vice President of Human Resources
Age: 59
Total Annual Compensation: $1.8M
Compensation as of Fiscal Year 2014.

Aramark Key Developments

Aramark Announces Executive Changes

Aramark announced that Eric Foss, President and Chief Executive Officer, has been elected by the Board of Directors to succeed Joseph Neubauer, as Chairman of the Board. Neubauer has chosen to step down and not stand for re-election in 2015 following 30 years in the role. The changes will be effective at the conclusion of Aramark's annual meeting of shareholders on February 3, 2014. Foss has been Aramark's President and Chief Executive Officer since joining the company in 2012, when he was also named to the Board of Directors. In addition to electing Foss as Chairman, Aramark's Board of Directors has nominated a new member to stand for election at the 2015 annual meeting of shareholders: Irene Esteves, former Executive Vice President and Chief Financial Officer at Time Warner Cable Inc.

Aramark Declares Regular Quarterly Dividend for the First Quarter of Fiscal Year 2015, Payable on December 16, 2014; Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended October 3, 2014; Provides Earnings Guidance for the Fiscal Year 2015

ARAMARK Corporation announced that the company's Board of Directors is increasing the regular quarterly dividend by 15%, to 8.625 cents per share of common stock. On November 11, 2014 the Board of Directors declared the first quarter fiscal 2015 dividend, at the increased rate, which is payable on December 16, 2014, to stockholders of record at the close of business November 25, 2014. The company reported unaudited consolidated earnings results for the fourth quarter and full year ended October 3, 2014. For the quarter, the company reported sales of $3,947,768,000, operating income of $145,251,000, income from continuing operations before income taxes of $66,978,000, income from continuing operations of $44,510,000 or $0.18 per diluted share and net income attributable to company shareholder of $44,405,000 or $0.18 per diluted share compared to sales of $3,515,975,000, operating income of $135,344,000, income from continuing operations before income taxes of $52,891,000, income from continuing operations of $40,134,000 or $0.20 per diluted share and net income attributable to company shareholder of $38,898,000 or $0.19 per diluted share for the same period a year ago. Adjusted operating income was $228 million versus $198 million in last year's period, an increase of 15%, with North America up 12%, International up 27% and Uniform and Career Apparel up 15%. Adjusted EBITDA was $331,815,000, adjusted net income was $94,533,000 and adjusted net income attributable to company stockholders was $4,428,000 or $0.39 per share compared to adjusted EBITDA of $296,704,000, adjusted net income of $78,116,000 and adjusted net income attributable to company stockholders of $77,910,000 or $0.37 per share a year ago. For the year, the company reported sales of $14,832,913,000, operating income of $564,563,000, income from continuing operations before income taxes of $229,677,000, income from continuing operations of $149,459,000 or $0.63 per diluted share and net income attributable to company shareholder of $148,956,000 or $0.63 per diluted share compared to sales of $13,945,657,000, operating income of $514,474,000, income from continuing operations before income taxes of $90,629,000, income from continuing operations of $71,396,000 or $0.34 per diluted share and net income attributable to company shareholder of $69,356,000 or $0.33 per diluted share for the same period a year ago. Net cash provided by operating activities was $398,159,000 compared to $695,907,000 for the same period a year ago. Net purchases of property and equipment and client contract investments were $516,700,000 compared to $381,634,000 for the same period a year ago. Adjusted operating income was $877,657,000 compared to $781,460,000 a year ago. Adjusted EBITDA was $1,269,733,000, adjusted net income was $359,437,000 and adjusted net income attributable to company stockholders was $358,934,000 or $1.59 per share compared to adjusted EBITDA of $1,168,153,000, adjusted net income of $261,640,000 and adjusted net income attributable to company stockholders of $260,630,000 or $1.24 per share a year ago. Net capital expenditures for the year were $505 million compared to $385 million in fiscal 2013, about 3.5% of sales. The company's rate of capital spending increased year-over-year as a result of several key account renewals, a number of large new client wins and spending on technology. The company expects fiscal year 2015 adjusted earnings per share within a range of $1.60 - $1.70. In fiscal year 2015, the company expects capital expenditures in the range of 3% to 3.5% of total sales, including higher expenditures in the uniform segment to expand plant capacity.

Aramark Mulls Acquisitions

Aramark (NYSE:ARMK) is seeking acquisitions. Fred Sutherland, Executive Vice President and Chief Financial Officer of Aramark said, "From time to time, we'll make acquisitions for strategic purposes to strengthen our business."

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