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Aramark profit misses consensus by 52.5% in fiscal Q3

Aramark Corp. said its normalized net income for the fiscal third quarter ended July 3 was 14 cents per share, compared with the S&P Capital IQ consensus estimate of 29 cents per share.

EPS decreased 24.1% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $33.7 million, a decline of 23.0% from $43.8 million in the third quarter ended June 27, 2014.

The normalized profit margin dropped to 1.0% from 1.2% in the year-earlier period.

Total revenue declined on an annual basis to $3.49 billion from $3.62 billion, and total operating expenses declined on an annual basis to $3.36 billion from $3.48 billion.

Reported net income declined 25.3% year over year to $34.6 million, or 14 cents per share, from $46.3 million, or 19 cents per share.