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Aramark profit misses consensus by 29.8% in fiscal Q2


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Aramark profit misses consensus by 29.8% in fiscal Q2

Aramark Corp. said its normalized net income for the fiscal second quarter ended March 31 was 30 cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS climbed 18.8% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $75.4 million, a gain of 20.5% from $62.6 million in the second quarter ended April 1, 2016.

The normalized profit margin climbed to 2.1% from 1.8% in the year-earlier period.

Total revenue increased on an annual basis to $3.62 billion from $3.57 billion, and total operating expenses totaled $3.43 billion, compared with $3.40 billion in the year-earlier period.

Reported net income increased 5.1% on an annual basis to $70.5 million, or 28 cents per share, from $67.0 million, or 27 cents per share.