Aramark Q3 Profit Climbs; Lifts FY14 Earnings View - Quick Facts

(RTTNews) - Aramark Holdings Corp. (ARMK), a provider of services in food, facilities management, and uniforms, reported Monday that its third-quarter net income attributable to shareholders was $46.87 million or $0.19 per share, higher than last year's $27.75 million or $0.13 per share.

Adjusted net income for the quarter was $77.8 million or $0.32 per share, compared to adjusted net income of $59.4 million or $0.28 per share in 2013.

On average, seven analysts polled by Thomson Reuters expected earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

Sales in the third quarter of $3.62 billion, higher than last year's $3.49 billion. Analysts expected sales of $3.63 billion. Organic sales growth was 4 percent.

On August 6, the company's Board of Directors declared a 7.5 cent dividend per share of common stock, payable on September 9, to shareholders of record at the close of business August 19.

Eric Foss, President and Chief Executive Officer, said, "Our performance reflects solid execution against a sound strategy and was broad-based across the segments and geographies of our portfolio. Based upon this strength and our overall business momentum, we are increasing our full-year 2014 earnings outlook."

Based upon third quarter results, the company now expects 53-week adjusted earnings per share range of $1.45-$1.50 for fiscal 2014. The company's previous estimate was between $1.35 and $1.45 per share. Analysts expect earnings of $1.42 per share for the year.