5 Stocks Gaining Attention After Beating Profit Expectations

4. Aramark (NYSE:ARMK)

Number of Hedge Fund Holders: 36

Shares of Aramark (NYSE:ARMK) traded nearly flat in the pre-market trading session on Tuesday, 16 November 2021, despite delivering solid profit and sales for its fiscal fourth quarter.

The Pennsylvania-based food service company reported adjusted earnings of 56 cents per share, crushing the consensus forecast of 19 cents per share. Quarterly revenue of $3.55 billion also easily surpassed the consensus forecast of $3.29 billion. Aramark (NYSE:ARMK) had posted adjusted earnings of 21 cents per share on revenue of $2.69 million for the comparable period of 2020.

Looking forward, Aramark (NYSE:ARMK) projected organic growth in the range of 23 – 27 percent for its FY 2022, with sales expected to hit pre-pandemic levels by year-end.

Commenting on the quarter, CEO John Zillmer said:

“Our fourth quarter and full year results reflected the progress we have made across our business as organic revenue reached 87% of pre-COVID levels. The Company achieved record Net New Business performance across lines of business, geographies, and client size—demonstrating the execution of our strategic growth initiatives, which we are confident will position Aramark to drive higher sustainable growth and create meaningful value for our stakeholders.”