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Aramark profit misses consensus by 31.3% in fiscal Q1

Aramark Corp. said its normalized net income for the fiscal first quarter ended Jan. 2 amounted to 33 cents per share, compared with the S&P Capital IQ consensus estimate of 48 cents per share.

EPS increased 55.1% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $81.1 million, an increase of 76.3% from $46.0 million in the first quarter ended Dec. 27, 2013.

The normalized profit margin rose to 2.2% from 1.2% in the year-earlier period.

Total revenue declined on an annual basis to $3.70 billion from $3.76 billion, and total operating expenses fell on an annual basis to $3.50 billion from $3.61 billion.

Reported net income rose 89.4% on an annual basis to $85.7 million, or 35 cents per share, from $45.2 million, or 21 cents per share.