Aramark Holdings Corp. reported second quarter 2014 results with strong sales, solid adjusted operating income growth and several key account wins. Highlights include: sales of $3.5 billion, with organic growth of 4 percent; adjusted operating income of $197.8 million up 6 percent, operating income of $120.8 million; adjusted net income of $75.2 million, net income of $13.1 million; adjusted earnings per share of $0.31, earnings per share of $0.05.
In the food and support services North American segment, sales were $2.4 billion, up 3 percent on an organic basis (up 2 percent on a reported basis) and adjusted operating income for the segment was up 1 percent. Sales growth in the education and sports, leisure and corrections sectors were particularly notable as new business wins continue to come online. Severe winter weather in North America affected many client locations, reducing sales and adjusted operating income by an estimated 1 percent and 5 percent to 6 percent, respectively. Consistent with what the company previously communicated, reinvestment in growth, technology and people accelerated during the second quarter. Full report.
