Aramark misses by $0.04, reports revs in-line; lowers FY19 EPS guidance, reaffirms FY19 revs guidance (31.31)
- Reports Q2 (Mar) earnings of $0.45 per share, excluding non-recurring items, $0.04 worse than the S&P Capital IQ Consensus of $0.49; revenues of $4 bln vs the $4.01 bln S&P Capital IQ Consensus.
- Co lowers guidance for FY19 EPS to $2.20-2.30, prior $2.30-2.40, which reflects the impact of strategic portfolio actions in our International segment, as well as adverse weather and includes four cents of currency headwinds , vs. $2.35 S&P Capital IQ Consensus; reaffirms FY19 revs of ~3% ($16.1-16.4 bln) vs. $16.28 bln S&P Capital IQ Consensus. Reiterates full-year free cash flow outlook of $500 million. This outlook includes approximately $50 million in cash outlay related to the divestiture of the Healthcare Technologies business and approximately $50 million in spending on the integrations of Avendra and AmeriPride