Welcome to our dedicated page for ARAMARK news (Ticker: ARMK), a resource for investors and traders seeking the latest updates and insights on ARAMARK stock.
Aramark (NYSE: ARMK) is a global leader in providing innovative services in food, facilities management, and uniforms. United by a passion to serve, Aramark’s dedicated team of over 270,000 employees makes a meaningful difference each day in 19 countries around the world. Recognized as one of the world’s most admired companies by Fortune, Aramark is also rated number one among diversified outsourcing companies and is celebrated as an employer of choice by the Human Rights Campaign and DiversityInc.
Aramark’s core business is segmented into three primary areas: Food and Support Services North America, Food and Support Services International, and Uniform and Career Apparel. The Food and Support Services segments cater to a wide range of clients, including school districts, colleges, healthcare facilities, correctional institutions, and business, sports, and entertainment venues. The Uniform segment focuses on renting, delivering, cleaning, and maintaining work attire and ancillary items like towels and mats, with operations in North America and Japan.
Aramark’s commitment to inclusivity and community impact is evident through its recent initiatives and partnerships. For example, in May 2024, Aramark partnered with the Lester and Rosalie Anixter Center and Triton College to provide employment opportunities for people with disabilities. This event underscores Aramark’s dedication to fostering access, opportunity, and belonging for everyone.
Financially, Aramark continues to show resilience and growth. With numerous service locations and distribution centers across the United States and Canada, Aramark maintains a robust presence in the market. The company’s strategic focus on innovation and customer satisfaction ensures it remains at the forefront of the industry.
Aramark (NYSE: ARMK) has launched its second mentoring cohort in partnership with the Eastern and Southern California Minority Supplier Development Councils. This three-month program aims to support minority and women-owned businesses (M/WBEs) through executive coaching, business skills training, and best practices sharing. Aramark's commitment to equity and diversity is evident as they aim to enhance opportunities for M/WBEs and strengthen their supply chain by collaborating with small, diverse suppliers. In FY2021, Aramark's spend with small and diverse suppliers exceeded $592 million.
Aramark (NYSE: ARMK) is enhancing its K-12 education division with a refreshed identity as Aramark Student Nutrition. The initiative includes global culinary innovations, technological upgrades, and new dining concepts aimed at improving the student dining experience. The company is introducing enhanced menu options and promoting student engagement through feedback from over 60,000 students. New offerings include the LunchPad for middle schools and expanded versions of the successful Rally Café. Positive feedback from clients indicates a strong alignment with the division's mission.
Aramark (NYSE:ARMK) has secured a multiyear agreement to operate food and beverage programs at four key venues in Reno, Nevada: the Reno-Sparks Convention Center, Reno Events Center, National Bowling Stadium, and Reno-Sparks Livestock Events Center. This partnership aims to enhance guest experiences and celebrate the local culinary culture. Aramark will provide a range of services including concessions and catering at these facilities, which host various sporting and cultural events.
Aramark (NYSE:ARMK), a leader in food, facilities management, and uniforms, will host a conference call to discuss its third quarter fiscal 2022 results on August 9, 2022, at 8:30 a.m. ET. A news release with the results will be available before the call. The call will be broadcast live on the Aramark Investor Relations website. Participants can register here for dial-in access. A replay and earnings materials will be available afterward.
Aramark (NYSE: ARMK) has become the first contract catering company in the U.S. to sign the World Resources Institute’s (WRI) Cool Food Pledge, committing to a 25% reduction in greenhouse gas emissions related to its food services by 2030. This initiative is part of Aramark's broader sustainability plan, Be Well. Do Well., aiming for net zero emissions. Starting January 2023, Aramark will significantly expand its offering of climate-friendly Cool Food Meals to nearly 1,500 locations across various sectors in the U.S.
Aramark and Starr Restaurants announce the opening of a new full-scale restaurant at Wells Fargo Center, replacing The Grille. This venue marks a collaboration between Aramark, a leading provider of food and beverage services, and award-winning restaurateur Stephen Starr. Set to open in October 2022, the restaurant will feature an upscale tavern atmosphere, seating for approximately 300, and views of Philadelphia's skyline. This initiative is part of a broader $300+ million transformation of the Wells Fargo Center aimed at enhancing the sports and entertainment experience for fans.
Aramark (NYSE:ARMK) will feature its management team in upcoming investor conferences, including the Bernstein Strategic Decisions Conference on June 2, 2022, with CEO John Zillmer at 8:00 a.m. ET, and the Baird Global Consumer, Technology & Services Conference on June 8, 2022, with President and CEO Kim Scott at 8:30 a.m. ET. A live webcast and replay will be available on Aramark's Investor Relations website. The company is recognized for its service to various sectors globally, ranking first in FORTUNE's 2022 list of 'World’s Most Admired Companies'.
Aramark (NYSE: ARMK) plans to spin off its Aramark Uniform Services (AUS) segment into a separate publicly traded company by the end of fiscal 2023. This tax-free transaction is aimed at optimizing strategic focus for both Aramark and AUS, facilitating enhanced capital allocation and employee incentives. The separation is expected to deliver superior outcomes for shareholders and improve operational performance. CEO John Zillmer and new AUS CEO Kim Scott highlight their confidence in the growth trajectory and organizational improvements.
Aramark (ARMK) reported a strong second quarter for fiscal 2022, with revenue of $3.9 billion, representing a 37% year-over-year increase. Organic revenue also rose 35%, with all segments showing double-digit growth. Operating income surged to $142 million, up $137 million from the prior year, while adjusted EPS improved from a loss of $0.30 to a profit of $0.14. A robust sales pipeline and record new client wins position the company for another year of record-breaking Net New Business.
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