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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) is adapting its Collegiate Hospitality services for fall 2024 to meet students' desire for both technological efficiency and nostalgia-driven experiences. The company is blending high-tech solutions with wellness-focused programs and in-person interactions. Key initiatives include:
1. A new allergen-friendly pantry concept called 'stress less zone™'
2. 'Dining Rewards' loyalty program for students, faculty, and staff
3. Expansion of low-carbon and plant-forward meal options
4. Introduction of 'SAM', an AI-powered chatbot for campus dining information
5. Implementation of self-checkout and autonomous convenience stores
Aramark is also focusing on providing students with career development opportunities in hospitality through internships, externships, and management programs.
Aramark (NYSE: ARMK) reported strong Q3 fiscal 2024 results, with revenue up 8% year-over-year to $4.4 billion and organic revenue growth of 11%. The company achieved record revenue in FSS U.S. and FSS International segments. Operating Income increased 22% to $162 million, while Adjusted Operating Income grew 21% to $193 million. GAAP EPS decreased 80% to $0.22, but Adjusted EPS rose 51% to $0.31.
Key highlights include:
- Strong base business volume, pricing, and net new business growth
- Increased profitability from revenue growth, cost discipline, and supply chain efficiencies
- Extended and upsized Revolving Credit Facility, improving financial flexibility
- Raised Full-Year Fiscal 2024 Outlook due to strong performance
Aramark (NYSE: ARMK) has announced a quarterly dividend of 9.5 cents per share of common stock. The dividend will be payable on September 3, 2024, to stockholders of record at the close of business on August 19, 2024. This decision was approved by Aramark's Board of Directors, demonstrating the company's commitment to returning value to its shareholders. The announcement provides clarity on the upcoming dividend payment and relevant dates for investors to be aware of.
Aramark (NYSE: ARMK) Student Nutrition is gearing up for the new school year with innovative culinary offerings based on extensive student and caregiver feedback. The company conducted thousands of surveys to shape its dining experience, focusing on taste, freshness, and appearance of food as priorities.
Key initiatives include:
- New from-scratch recipes using fresh and local ingredients
- Monthly -time offers
- Community involvement through Guest Chef programs
- Diverse culinary menus celebrating various heritage months
- Culinary Camp program to enhance staff skills
- Connect365 wellness communication hub for partner school districts
Aramark aims to power student potential through outstanding hospitality and culinary innovation across all school districts it serves. The company's commitment to community engagement and diverse offerings reflects its dedication to creating a unique dining experience tailored to each locale.
Renowned chef Daniel Boulud has launched Cuisine Boulud New York, a new catering venture in partnership with LifeWorks Restaurant Group. This company aims to provide high-end catering services for corporate events, galas, conferences, and social gatherings in the Metro New York area. Operating from a 12,000-square-foot kitchen at One Madison Avenue, Cuisine Boulud New York will be the exclusive caterer for Le Jardin sur Madison rooftop event space. The venture leverages Boulud's 30-plus years of experience in upscale catering and the organizational support of LifeWorks to offer a more elevated catering experience. This expansion is seen as a logical step for Boulud's Dinex Group, meeting the demand for premium catering services in New York City and beyond.
Aramark, a global leader in food and facilities management, has been recognized as a 'Best Place to Work for Disability Inclusion' by Disability:IN for the eighth consecutive year. The company earned a top score of 100 on the Disability Equality Index, which measures various aspects of disability workplace inclusion.
Aramark's commitment to creating an inclusive culture is evident through its eleven employee resource groups (ERGs), including Aramark Thrive, dedicated to employees with disabilities and their advocates. The company actively participates in community events, such as the Special Olympics of Pennsylvania's Business Plunge, and hosts recruitment events for individuals with autism.
Fenimore Fisher, Aramark's Vice President of DEI, emphasized the company's alignment with Disability:IN in promoting full inclusion of people with disabilities and advancing a culture of inclusion.
Aramark (NYSE:ARMK), a global leader in food and facilities management, has announced a conference call to review its third quarter fiscal 2024 results on Tuesday, August 6, 2024 at 8:30 a.m. ET. A news release containing the results will be issued before the call. The conference call will be broadcast live on the Aramark Investor Relations website. Interested parties can register for dial-in participation and will receive a personalized PIN for call access. A replay of the call and related earnings materials will be available in the Archives section of the website after the event.
Aramark (NYSE: ARMK), a global leader in food and facilities services, has partnered with Pringle Robotics to deploy autonomous floor cleaning robots across its operations. The initiative aims to enhance cleaning efficiency and effectiveness through the use of CC1 and CC3 autonomous robots and integrated software solutions. The robots have already been deployed at the Kay Bailey Hutchison Convention Center in Texas, where they clean various floor types. This collaboration supports Aramark’s commitment to innovation, standardization, and data-driven decision-making in facilities management.
Aramark (NYSE:ARMK), a leader in food and facilities management, announced its participation in upcoming investor conferences. On June 4, 2024, CFO Jim Tarangelo will meet investors at the Stifel Cross Sector Insight Conference in Boston. On June 6, 2024, Tarangelo will also join a fireside chat at the Baird Global Consumer, Technology & Services Conference in New York at 9:40 a.m. ET. Additionally, CEO John Zillmer will engage with investors at the Oppenheimer Consumer Growth and E-Commerce Conference on June 11, 2024, which will be held virtually. A live webcast and replay of the fireside chat will be accessible through the Investor Relations section of Aramark's website.
Aramark, a global leader in food and facilities services, announced its ranking at #29 on Fair360's 2024 Top 50 Companies list, improving by 11 spots from 2023. This marks the eighth consecutive year Aramark has been recognized on this list. Additionally, Aramark has been included for the first time on the Top Companies for Black Executives list, ranking at #11. These rankings reflect Aramark's commitment to diversity, equity, and inclusion (DEI). In its 2023 'Be Well. Do Well.' report, Aramark highlighted that 36% of its management comprises racially or ethnically diverse individuals and that 20% of its board members are women of color. The Fair360 survey evaluates companies on leadership accountability, human capital diversity, workplace practices, supplier diversity, and philanthropy.
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