Benzinga | Nov 16, 2021 10:35AM EST

Aramark Q4 Earnings Top Estimates

* Aramark (NYSE:ARMK) reported fourth-quarter FY21 sales growth of 32% year-on-year, to $3.55 billion, beating the analyst consensus of $3.29 billion.

* The revenue in the FSS U.S. segment rose 51% Y/Y, FSS International increased 22%, and Uniform & Career Apparel fell 2%.

* The adjusted operating margin was 4.8% on a constant-currency basis, and the adjusted operating income for the quarter was $165 million versus $(12) million last year.

* The company held $532.59 million in cash and equivalents as of October 1, 2021.

* Net cash provided by operating activities for the year amounted to $657 million and use of $282 million free cash flow.

* Adjusted EPS of $0.21 beat the analyst consensus of $0.19.

* Outlook: Aramark sees FY22 organic growth of 23% - 27%, with revenue expected to approach pre-COVID levels by year-end.

* Price Action: ARMK shares traded lower by 1.76% at $37.3 on the last check Tuesday.