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Aramark profit misses consensus by 16.0% in fiscal Q1

Aramark Corp. said its normalized net income for the fiscal first quarter ended Dec. 30, 2016, came to 44 cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

EPS increased 22.5% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $111.4 million, an increase of 25.0% from $89.1 million in the first quarter ended Jan. 1, 2016.

The normalized profit margin increased to 3.0% from 2.4% in the year-earlier period.

Total revenue came to $3.74 billion, compared with $3.71 billion in the prior-year period, and total operating expenses totaled $3.49 billion, compared with $3.50 billion in the prior-year period.

Reported net income increased 34.2% year over year to $126.3 million, or 50 cents per share, from $94.1 million, or 38 cents per share.