News and Information to Help You Get Ahead

Philly-Based Food Service Giant Earns Billions

View Comments (
)
|
Email
|
Print

    NEWSLETTERS

    Philadelphia Business Journal

    Aramark Corp. released its third-quarter fiscal 2014 results Monday, showing strong sales and profit growth, increasing its earnings outlook for fiscal 2014.

    The Philadelphia-based food service, facilities and clothing provider reported sales of $3.6 billion, a 3 percent increase from the $3.5 billion it reported from the same time last year. Adjusted income was $192.4 million, a 10 percent increase from the $175.5 million it reported the same time last year.

    The company also raised its earnings outlook for the current fiscal year to $1.45 to $1.50 a share, from $1.35 to $1.45 a share.

    “I am pleased to report another quarter of strong business results achieved within a challenging consumer and economic environment,” Eric J. Foss, president and CEO, said in a statement. “Our performance reflects solid execution against a sound strategy and was broad-based across the segments and geographies of our portfolio. Based upon this strength and our overall business momentum, we are increasing our full-year 2014 earnings outlook.” Read more at PBJ.com.

    For more breaking business news go to PBJ.com