Aramark Shares Rise On Improved Earnings Above View

Shares of Aramark (ARMK), food service, facilities, and uniform services provider, are rising more than 5% Tuesday morning after reporting better-than-expected third-quarter results.

Earnings for the quarter increased to $338.48 million, or $1.29 per share from $40.33 million, or $0.16 per share, in last year’s third quarter.

Excluding items, Aramark reported adjusted earnings of $95.29 million or $0.36 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.34 per share.

The company’s revenue for the quarter rose 15.1% to $4.749 billion from $4.127 billion last year. The consensus estimate was for $4.59 billion.

ARMK, currently at $40.10, has traded in the range of $30.72 – $45.72 in the last 52 weeks.

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