Aramark (ARMK) Q4 2024 Earnings Report

Aramark delivered a solid QQ4 2024 performance, building on a year of record results for Global Food & Support Services (FSS). Full-year GAAP revenue of $17.4 billion and adjusted operating income (AOI) of $882 million marked a notable top- and bottom-line accomplishment, with 2024 AOI margin at 5.1% and adjusted EPS of $1.55, up 35% on a constant-currency basis. The fourth quarter showcased continued strength in base volume, pricing normalization, and sustained operating discipline that drove AOI of $271 million (+8% CC) and Q4 adjusted EPS of $0.54 (+14% CC). Management underscored a robust pipeline of net-new opportunities, new client wins across the U.S. and International, and strategic balance-sheet actions, including debt reduction and a new $500 million share repurchase program. Looking ahead, Aramark reaffirmed a constructive 2025 outlook with organic revenue growth guidance of 7.5% to 9.5%, AOI growth of 15% to 18%, and adjusted EPS growth of 23% to 28%, plus a modest 53rd week uplift (~2%) to organic revenue and AOI. The narrative emphasizes a diversified, growth-oriented model supported by AI-enabled client solutions, expanded GPO scale via Avendra International, and a continued focus on deleveraging and capital flexibility.