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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) was honored with the American Heart Association's Award of Meritorious Achievement at the National Volunteer Awards for its Healthy for Life initiative, which aims to improve nutrition and lifestyle through various programs. Since 2015, this partnership has delivered notable results, including a 20% reduction in average calories, saturated fat, and sodium in menu items. Aramark also engages millions through health education, utilizing resources in over 800 community organizations and providing wellness programs for employees, reinforcing its commitment to health and nutrition.
Aramark (NYSE: ARMK) has established an exclusive partnership with Talon, introducing Adjustec waistband technology in its Authentic™ collection of shorts and pants. This innovative technology enhances comfort by ensuring better fit accuracy and fewer sizing changes in uniform rental garments across diverse industrial settings. The partnership signifies the first instance where this technology is used outside retail, aiming to improve daily work life for clients. Aramark serves over 400,000 customers in the U.S., providing comprehensive uniform services, which will benefit from this enhancement.
Aramark (NYSE: ARMK) announced participation in upcoming investor conferences featuring management discussions. Key sessions include the Stifel Cross Sector Insight Conference on June 10, 2021, with CEO John Zillmer at 8:40 a.m. ET, and the Oppenheimer Consumer Growth and E-Commerce Conference on June 15, 2021, featuring CFO Tom Ondrof at 9:05 a.m. ET. Live webcasts and replays will be accessible on the Aramark Investor Relations webpage. The company emphasizes its commitment to diversity and service, recognized in various industry awards.
Debbie Albert has been appointed as Aramark's Senior Vice President for Corporate Communications, reporting to CEO John Zillmer. Albert will oversee integrated communications for various audiences, supporting the executive team and business units. Previously at Aramark from 1995 to 2010, she founded Albert Communications afterward, specializing in strategic communications. Zillmer highlighted her experience and strategic thinking as vital for the company’s growth post-pandemic. Albert expressed enthusiasm for aligning her values with Aramark’s mission and enhancing the communications strategy.
Bart Kaericher has been appointed as the President and CEO of Aramark’s Healthcare division, reporting to COO Marc Bruno. Kaericher brings extensive experience from his previous roles in the healthcare sector, particularly with Compass Group. His leadership is expected to drive significant growth in Aramark's healthcare business. Kaericher holds an MBA in Pharmaceutical & Healthcare Marketing and a BS in Business. The healthcare division aims to enhance service quality and expand its footprint in the United States, focusing on high-quality partnerships and patient experience.
Aramark (NYSE: ARMK) reported second quarter fiscal 2021 results, revealing a consolidated revenue of $2.8 billion, a 24% decline compared to the previous year due to COVID-19 impacts. Organic revenue also dropped by 26%. Despite challenges, there was a noted sequential improvement across all segments. Operating income was $5 million, while net loss attributable to stockholders was $78 million. Cash flow showed positive signs with $337 million generated in operating activities. The company announced a quarterly dividend of 11 cents per share and plans to acquire Next Level Hospitality, which is expected to boost earnings.
Aramark (NYSE: ARMK) has announced its intention to redeem the full $500 million outstanding principal of its 4.75% Senior Notes due 2026, effective June 2, 2021. The repayment will be funded using available cash, resulting in annual interest expense savings of approximately $25 million. CFO Tom Ondrof expressed confidence in the company's strong cash flow and liquidity, which supports its capital allocation strategies, including this debt repayment and a recent refinancing effort. Aramark will hold a fiscal second quarter earnings call on May 11, 2021.
Aramark (NYSE:ARMK) has signed an agreement to acquire Next Level Hospitality, a leader in culinary and environmental services for senior living, enhancing its presence in this growing sector. Next Level, founded in 2017, generated about $160 million in revenue in the past year and is expected to boost Aramark's earnings by early fiscal 2022. This acquisition aligns with Aramark’s selective M&A strategy and aims to leverage a scalable operating model. The deal's closure is anticipated in Aramark's fiscal third quarter, pending standard approvals.
Aramark (NYSE:ARMK) will host a conference call to discuss its second quarter 2021 earnings on May 11, 2021, at 8:30 a.m. ET. A news release with the results will precede the call. The call can be accessed via the Investor Relations section of Aramark's website. Interested parties can join the call through specified domestic and international numbers, using Conference ID 2870326. Aramark provides food, facilities management, and uniforms globally, serving various sectors including education, healthcare, and corporate clients.
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