Aramark (ARMK) experienced a drop in profit for the second quarter as compared to the same period in the previous year. However, the company did overshoot Wall Street predictions.
In the financial reporting, Aramark posted that the bottom line closed at $53.45 million or $0.20 per share. A year back in the same quarter, the company reported a net profit of $56.04 million or $0.21 per share.
After adjusting for certain specific items, Aramark reported enhanced earnings of $76.60 million, which equals $0.29 per share for the given period.
According to data compiled by Thomson Reuters, industry analysts on average had anticipated the company to generate earnings of $0.27 per share. However, these estimates generally ignore special items.
In terms of revenue, the company experienced a significant rise of 7.1%. The revenue surged to $4.20 billion from $3.92 billion as compared to the previous year.
To provide a quick glance at Aramark's earnings (GAAP), for the second quarter, earnings came in at $53.45 million compared to the $56.04 million from last year. Earning per share (EPS) stood at $0.20 in contrast to $0.21 from the previous year. The company's revenue for the period was $4.20 billion, an increase from $3.92 billion last year.
