Aramark Reports Third Quarter Earnings
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Aramark Services (ARMK) Misses Q3 EPS by 1c
August 4, 2020 6:32 AM EDTAramark Services (NYSE: ARMK) reported Q3 EPS of ($0.69), $0.01 worse than the analyst estimate of ($0.68). Revenue for the quarter came in at $2.15 billion versus the consensus estimate of $2.17 billion.
SUMMARY
Strong cash flow management and liquidityDisciplined business actions led to Cash provided by operating activities of $17 million and minimal Free Cash Flow use of $37 million in the third quarterPositive cash flow since bond issuance in late AprilOver $2.5 billion cash availability at quarter-endSequential monthly revenue improvement in the third quarterRevenue (46.3)%; Organic Revenue (45.3)%Increasing activity particularly in Uniforms,... More