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Aramark profit misses consensus by 42.7% in fiscal Q3

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Aramark profit misses consensus by 42.7% in fiscal Q3

Aramark Corp. said its normalized net income for the fiscal third quarter ended June 30 was 23 cents per share, compared with the S&P Capital IQ consensus estimate of 40 cents per share.

EPS declined year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $58.2 million, a decline from $59.8 million in the third quarter ended July 1, 2016.

The normalized profit margin dropped to 1.6% from 1.7% in the year-earlier period.

Total revenue came to $3.59 billion, compared with $3.59 billion in the prior-year period, and total operating expenses came to $3.44 billion, compared with $3.42 billion in the year-earlier period.

Reported net income increased 45.7% year over year to $65.3 million, or 26 cents per share, from $44.8 million, or 18 cents per share.