Industrials -
Specialty Business Services - NYSE - US
$ 32.3
-2.24 %
$ 8.56 B
Market Cap
24.76
P/E
1. INTRINSIC VALUE
Balance Sheet
Aramark
| Current Assets | 3.41 B |
| Cash & Short-Term Investments | 715 M |
| Receivables | 2.1 B |
| Other Current Assets | 591 M |
| Non-Current Assets | 9.27 B |
| Long-Term Investments | 121 M |
| PP&E | 2.21 B |
| Other Non-Current Assets | 6.93 B |
| Current Liabilities | 4.21 B |
| Accounts Payable | 1.39 B |
| Short-Term Debt | 1.02 B |
| Other Current Liabilities | 1.8 B |
| Non-Current Liabilities | 5.41 B |
| Long-Term Debt | 4.55 B |
| Other Non-Current Liabilities | 866 M |
EFFICIENCY
Earnings Waterfall
Aramark
| Revenue | 17.4 B |
| Cost Of Revenue | 16 B |
| Gross Profit | 1.43 B |
| Operating Expenses | 719 M |
| Operating Income | 707 M |
| Other Expenses | 445 M |
| Net Income | 262 M |
RATIOS
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis
Aramark
| Net Income | 262 M |
| Depreciation & Amortization | 436 M |
| Capital Expenditures | 0 |
| Stock-Based Compensation | 62.6 M |
| Change in Working Capital | 14 M |
| Others | -26.2 M |
| Free Cash Flow | 727 M |
Wall Street Analysts Price Targets
Aramark
Wall Street analysts predict an average 1-year price target for ARMK of $40.1 , with forecasts ranging from
a
low of
$37 to a high of $43 .
ARMK Lowest Price Target
Wall Street Target
37 USD
14.55%
ARMK Average Price Target
Wall Street Target
40.1 USD
24.06%
ARMK Highest Price Target
Wall Street Target
43 USD
33.13%
4. DIVIDEND
ANALYSIS
0.28%
DIVIDEND YIELD
0.105 USD
DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership
Aramark
Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
334 K USD 1
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
Aramark Sports + Entertainment and Indianapolis Zoo Announce Partnership
INDIANAPOLIS--(BUSINESS WIRE)---- $ARMK--Indianapolis Zoo and Aramark Sports + Entertainment (Aramark; NYSE: ARMK), the award-winning food and beverage partner at premier cultural attractions and entertainment destinations across North America, today officially announced a new partnership that makes Aramark the Zoo's exclusive hospitality provider. “We're looking forward to partnering with the Indianapolis Zoo to offer new dining experiences that match the Zoo's lively atmosphere and attractions,” said A.
businesswire.com
- 1 week ago
SL Green Realty : 2025 First Quarter Supplemental Data
TABLE OF CONTENTS Definitions aAdsList.push('Article'); aAdsListSize.push([300, 250]); aAdsListCA.push(null); 4 Highlights 6 - 11 Comparative Balance Sheets 12 Comparative Statements of Operations 14 Comparative Computation of FFO and FAD 15 Consolidated Statement of Equity 16 Joint Venture Statements 17 - 18 Selected Financial Data 19 - 22 Debt Summary Schedule 23 - 25 Derivative Summary Schedule 26 Lease Liability Schedule 27 Debt and Preferred Equity Investments 28 - 30 Selected Property Data Property Portfolio 31 - 35 Largest Tenants 36 Tenant Diversification 37 Leasing Activity 38 - 39 Lease Expirations 40 - 42 Summary of Real Estate Acquisition/Disposition Activity 43 - 47 Non-GAAP Disclosures and Reconciliations 48 Analyst Coverage 51 Executive Management 52 Supplemental Information 3 First Quarter 2025 DEFINITIONS Annualized cash rent - Monthly base rent and escalations per the lease, excluding concessions, deferrals, and abatements as of the last day of the quarter, multiplied by 12. ASP - Alternative strategy portfolio. Capitalized Interest - The total of i) interest cost for project specific debt on properties that are under development or redevelopment plus ii) an imputed interest cost for properties that are under development or redevelopment, which is calculated based on the Company's equity investment in those properties multiplied by the Company's consolidated weighted average borrowing rate. Capitalized Interest is a component of the carrying value of a development or redevelopment property. CMBS Investments - Investments in commercial mortgage-backed securities. Consolidated securitization vehicle - CMBS securitization trusts for which the terms of our investment and special servicing assignment give us the ability to direct the activities that could significantly impact the trust's economic performance Debt service coverage - Operating Income adding back income taxes, loan loss reserves and the Company's share of joint venture depreciation and amortization, divided by total interest and principal payments. Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate (EBITDAre) - EBITDAre is a non-GAAP financial measure. The Company computes EBITDAre in accordance with standards established by NAREIT, which may not be comparable to EBITDAre reported by other REITs that do not compute EBITDAre in accordance with the NAREIT definition, or that interpret the NAREIT definition differently than the Company does. The White Paper on EBITDAre approved by the Board of Governors of NAREIT in September 2017 defines EBITDAre as net income (loss) (computed in accordance with Generally Accepted Accounting Principles, or GAAP), plus interest expense, plus income tax expense, plus depreciation and amortization, plus (minus) losses and gains on the disposition of depreciated property, plus impairment write-downs of depreciated property and investments in unconsolidated joint ventures, plus adjustments to reflect the entity's share of EBITDAre of unconsolidated joint ventures. First generation TIs and LCs - Tenant improvements (TIs), leasing commissions (LCs), and other leasing costs which are generally incurred during the first 4-5 years following acquisition of a property. Fixed charge - Total payments for interest, loan principal amortization, ground rent and preferred stock dividends. Fixed charge coverage - Operating Income adding back income taxes, loan loss reserves and the Company's share of joint venture depreciation and amortization, divided by Fixed Charge. The calculation of fixed charge coverage for purposes of our credit facility covenants is governed by the terms of the credit facility. Funds Available for Distribution (FAD) - FAD is a non-GAAP financial measure that is calculated as FFO plus non-real estate depreciation, allowance for straight line credit loss, adjustment for straight line operating lease rent, non-cash deferred compensation, and pro- rata adjustments for these items from the Company's unconsolidated JVs, less straight line rental income, free rent net of amortization, second cycle tenant improvement and leasing costs, and recurring capital expenditures. Funds from Operations (FFO) - FFO is a widely recognized non-GAAP financial measure of REIT performance. The Company computes FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, or NAREIT, which may not be comparable to FFO reported by other REITs that do not compute FFO in accordance with the NAREIT definition, or that interpret the NAREIT definition differently than the Company does. The revised White Paper on FFO approved by the Board of Governors of NAREIT in April 2002, and subsequently amended in December 2018, defines FFO as net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from sales of properties, and real estate related impairment charges, plus real estate related depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures. Junior Mortgage Participations - Subordinate interests in first mortgages. Mezzanine Debt - Loans secured by ownership interests in real estate. Net Operating Income (NOI) and Cash NOI - NOI is a non-GAAP financial measure that is calculated as operating income before transaction related costs, gains/losses on early extinguishment of debt, marketing general and administrative expenses and non-real estate revenue. Cash NOI is also a non-GAAP financial measure that is calculated by subtracting free rent (net of amortization), straight-line rent, and the amortization of acquired above and below-market leases from NOI, while adding operating lease straight-line adjustment and the allowance for straight-line tenant credit loss. Preferred Equity Investments - Equity investments that are senior to common equity and are entitled to preferential returns. Recurring capital expenditures - Building improvements and leasing costs required to maintain current revenues. Recurring capital expenditures do not include building improvements that are incurred to bring a property up to "operating standards." Redevelopment costs - Non-recurring capital expenditures incurred to improve properties to the Company's operating standards. Right of Use Assets / Lease Liabilities - Represents the right to control the use of leased property and the corresponding obligation, both measured at inception as the present value of the lease payments. The asset and related liability are classified as either operating or financing based on the length and cost of the lease and whether the lease contains a purchase option or a transfer of ownership. Operating leases are expensed through operating lease rent while financing leases are expensed through amortization and interest expense. Supplemental Information 4 First Quarter 2025 DEFINITIONS Same-Store Properties (Same-Store) - Properties owned in the same manner during both the current and prior year, excluding development and redevelopment properties that are not stabilized for both the current and prior year. Changes to Same-Store properties in 2025 are as follows: Added to Same-Store in 2025: Removed from Same-Store in 2025: 7 Dey Street 10 East 53rd Street (interest acquired) 760 Madison Avenue - Retail 15 Beekman Street 245 Park Avenue Second generation TIs and LCs - Tenant improvements, leasing commissions, and other leasing costs that do not meet the definition of first generation TIs and LCs. SLG Interest - 'SLG Share' or 'Share of JV' is computed by multiplying the referenced line item by the Company's percentage ownership or economic interest in the respective joint ventures and may not accurately depict the legal and/or economic implications of holding a non-controlling interest in the respective joint ventures. Total square feet owned - The total square footage of properties either owned directly by the Company or in which the Company has a joint venture interest. Supplemental Information 5 First Quarter 2025 FIRST QUARTER 2025 HIGHLIGHTS Unaudited NEW YORK, April 16, 2025 - SL Green Realty Corp. (the "Company") (NYSE: SLG) today reported a net loss attributable to common stockholders for the quarter ended March 31, 2025 of $21.1 million, or $0.30 per share, as compared to a net income of $13.1 million, or $0.20 per share, for the same quarter in 2024. The Company reported FFO for the quarter ended March 31, 2025 of $106.5 million or $1.40 per share, inclusive of $25.0 million, or $0.33 per share, of income related to the expected resolution of a commercial mortgage investment and net of $3.1 million, or $0.04 per share, of negative non-cash fair value adjustments on mark-to-market derivatives. The Company reported FFO of $215.4 million, or $3.07 per share, for the same period in 2024, which included $141.7 million, or $2.02 per share, of gain on discounted debt extinguishment at 2 Herald Square and $5.1 million, or $0.07 per share, of positive non-cash fair value adjustments on mark-to-market derivatives. All per share amounts are presented on a diluted basis. Operating and Leasing Activity Same-store cash NOI, including the Company's share of same-store cash NOI from unconsolidated joint ventures, increased by 2.6% for the first quarter of 2025, or 2.4% excluding lease termination income, as compared to the same period in 2024. During the first quarter of 2025, the Company signed 45 office leases in its Manhattan office portfolio totaling 602,105 square feet. The average rent on the Manhattan office leases signed in the first quarter of 2025 was $83.75 per rentable square foot with an average lease term of 9.8 years and average tenant concessions of 9.4 months of free rent with a tenant improvement allowance of $94.35 per rentable square foot. Twenty-four leases comprising 361,131 square feet, representing office leases on space that had been occupied within the prior twelve months, are considered replacement leases on which mark-to-market is calculated. Those replacement leases had average starting rents of $82.29 per rentable square foot, representing a 3.1% decrease over the previous fully escalated rents on the same office spaces. The Company has a current, active pipeline of prospective leases of more than 1.1 million square feet. Occupancy in the Company's Manhattan same-store office portfolio was 91.8% as of March 31, 2025, consistent with the Company's expectations, inclusive of 791,538 square feet of leases signed but not yet commenced, as compared to 92.4% at the end of the previous quarter. The Company expects to increase Manhattan same-store office occupancy, inclusive of leases signed but not yet commenced, to 93.2% by December 31, 2025. Significant leasing activity in the first quarter includes: Early renewal and expansion with Newmark & Company Real Estate for 144,418 square feet at 125 Park Avenue; Expansion lease with IBM for 92,663 square feet at One Madison Avenue; Renewal with M. Shanken Communications, Inc. for 38,652 square feet at Worldwide Plaza; Expansion lease with Ares Management LLC for 38,074 square feet at 245 Park Avenue; Early renewal with Brixmor Operating Partnership for 18,655 square feet at 100 Park Avenue; New leases of 18,128 square feet and 16,643 square feet with Sichenzia Ross Ferrance Carmel LLP and Lankler Siffert & Wohl LLP, respectively, at 1185 Avenue of the Americas; and New lease with Phillips Lytle LLP for 17,320 square feet at 810 Seventh Avenue. Supplemental Information 6 First Quarter 2025 FIRST QUARTER 2025 HIGHLIGHTS Unaudited Investment Activity In April, together with its joint venture partner, the Company closed on the sale of 85 Fifth Avenue for a gross asset valuation of $47.0 million. The transaction generated net proceeds to the Company of $3.2 million. In January, the Company closed on the previously announced acquisition of 500 Park Avenue for $130.0 million. The Company financed the acquisition with a new $80.0 million mortgage, which has a term of up to 5 years, as fully extended, and bears interest at a floating rate of 2.40% over Term SOFR. The Company swapped the mortgage to a fixed rate of 6.57% through February 2028. In April, the Company exercised its purchase option and closed on the acquisition of its partner's 49.9% interest in 100 Park Avenue for cash consideration of $14.9 million. During the first quarter of 2025, the Company closed on six Giorgio Armani Residences at 760 Madison Avenue. The transactions generated net proceeds to the Company of $93.3 million. Debt and Preferred Equity Investment Activity The carrying value of the Company's debt and preferred equity portfolio was $537.6 million at March 31, 2025, including $219.4 million representing the Company's share of the preferred equity investment in 625 Madison Avenue that is accounted for as an unconsolidated joint venture. The portfolio had a weighted average current yield of 7.5% as of March 31, 2025, or 8.7% excluding the effect of $63.0 million of investments that are on non-accrual. During the first quarter of 2025, the Company invested $28.3 million in real estate debt and commercial mortgage-backed securities ("CMBS"). Special Servicing and Asset Management Activity The Company's special servicing business has active assignments totaling $4.8 billion with an additional $10.9 billion for which the Company has been designated as special servicer on assets that are not currently in special servicing. Since inception, the Company's cumulative special servicing and asset management appointments total $25.2 billion. ESG Highlights The Company was recognized as a GRESB Sector Leader in the Mixed-Use Residential Real Estate sector, earning a Green Star designation and a 5-star rating. The Company was recognized in USA TODAY 2025 ranking of America's Climate Leaders, leading the way in cutting greenhouse gas emissions. This designation reflects our ongoing commitment to sustainability, transparency, and meaningful climate action. The Company ranked in the 95th percentile of global peer set assessed by S&P CSA (DJSI) and listed as a Sustainability Yearbook Member for the fourth consecutive year. Out of the more than 7,800 companies assessed in 2024, only 712 are recognized. Supplemental Information 7 First Quarter 2025 FIRST QUARTER 2025 HIGHLIGHTS Unaudited Dividends In the first quarter of 2025, the Company declared: Three monthly ordinary dividends on its outstanding common stock of $0.2575 per share, which were paid in cash on February 18, March 17 and April 15, 2025; A quarterly dividend on its outstanding 6.50% Series I Cumulative Redeemable Preferred Stock of $0.40625 per share for the period January 15, 2025 through and including April 14, 2025, which was paid in cash on April 15, 2025, and is the equivalent of an annualized dividend of $1.625 per share. Conference Call and Audio Webcast The Company's executive management team, led by Marc Holliday, Chairman and Chief Executive Officer, will host a conference call and audio webcast on Thursday, April 17, 2025, at 2:00 p.m. ET to discuss the financial results. Supplemental data will be available prior to the quarterly conference call in the Investors section of the SL Green Realty Corp. website at www.slgreen.com under "Financial Reports." The live conference call will be webcast in listen-only mode and a replay will be available in the Investors section of the SL Green Realty Corp. website at www.slgreen.com under "Presentations & Webcasts." Research analysts who wish to participate in the conference call must first register at https://register-conf.media-server.com/register/ BIdde2e541628a4c588c74cb1d1871805d. Supplemental Information 8 First Quarter 2025 KEY FINANCIAL DATA Unaudited (Dollars in Thousands Except Per Share) As of or for the three months ended 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 Earnings Per Share Net (loss) income available to common stockholders (EPS) - diluted $ (0.30) $ 0.13 $ (0.21) $ (0.04) $ 0.20 Funds from operations (FFO) available to common stockholders - diluted $ 1.40 $ 1.81 $ 1.13 $ 2.05 $ 3.07 Common Share Price & Dividends Closing price at the end of the period $ 57.70 $ 67.92 $ 69.61 $ 56.64 $ 55.13 Closing high price during period $ 68.38 $ 81.13 $ 72.21 $ 57.38 $ 55.13 Closing low price during period $ 55.58 $ 66.24 $ 54.99 $ 48.32 $ 42.45 Annual dividend per common share $ 3.09 $ 3.09 $ 3.00 $ 3.00 $ 3.00 FFO dividend payout ratio (trailing 12 months) 47.4% 37.3% 43.6% 43.7% 48.8% Funds available for distribution (FAD) dividend payout ratio (trailing 12 months) 75.6% 52.3% 53.1% 54.2% 63.8% Common Shares & Units Common shares outstanding 71,016 71,097 65,235 64,814 64,806 Units outstanding 5,010 4,510 4,474 4,299 4,417 Total common shares and units outstanding 76,026 75,607 69,709 69,113 69,223 Weighted average common shares and units outstanding - basic 74,527 70,654 67,999 68,740 68,767 Weighted average common shares and units outstanding - diluted 76,333 72,915 69,733 70,180 70,095 Market Capitalization Market value of common equity $ 4,386,700 $ 5,135,227 $ 4,852,443 $ 3,914,560 $ 3,816,264 Liquidation value of preferred equity/units and redeemable equity 426,016 426,064 396,730 396,730 396,500 Consolidated debt 3,876,727 3,621,024 3,833,798 3,639,892 3,801,378 Consolidated market capitalization $ 8,689,443 $ 9,182,315 $ 9,082,971 $ 7,951,182 $ 8,014,142 SLG share of unconsolidated JV debt 6,033,918 6,027,862 6,876,416 6,866,190 7,087,348 Market capitalization including SLG share of unconsolidated JVs $ 14,723,361 $ 15,210,177 $ 15,959,387 $ 14,817,372 $ 15,101,490 Consolidated debt service coverage (trailing 12 months) 3.49x 3.80x 3.36x 3.26x 2.82x Consolidated fixed charge coverage (trailing 12 months) 2.83x 3.08x 2.72x 2.63x 2.32x Debt service coverage, including SLG share of unconsolidated JVs (trailing 12 months) 1.83x 1.91x 1.73x 1.69x 1.59x Fixed charge coverage, including SLG share of unconsolidated JVs (trailing 12 months) 1.66x 1.74x 1.58x 1.54x 1.44x Supplemental Information 9 First Quarter 2025 KEY FINANCIAL DATA Unaudited (Dollars in Thousands Except Per Share) As of or for the three months ended 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 Selected Balance Sheet Data Real estate assets before depreciation $ 6,678,906 $ 6,607,741 $ 6,289,894 $ 6,264,757 $ 6,260,955 Investments in unconsolidated joint ventures $ 2,712,582 $ 2,690,138 $ 2,871,683 $ 2,895,399 $ 2,984,786 Debt and preferred equity investments $ 318,189 $ 303,726 $ 293,924 $ 290,487 $ 352,347 Cash and cash equivalents $ 180,133 $ 184,294 $ 188,216 $ 199,501 $ 196,035 Investment in marketable securities $ 12,295 $ 22,812 $ 16,522 $ 16,593 $ 10,673 Total assets $ 11,410,623 $ 10,470,099 $ 10,216,072 $ 9,548,652 $ 9,764,292 Consolidated fixed rate & hedged debt $ 3,367,361 $ 3,257,474 $ 3,287,898 $ 3,039,399 $ 3,040,885 Consolidated variable rate debt 509,366 363,550 485,000 540,000 650,000 Consolidated ASP debt - - 60,900 60,493 110,493 Total consolidated debt $ 3,876,727 $ 3,621,024 $ 3,833,798 $ 3,639,892 $ 3,801,378 Deferred financing costs, net of amortization (15,275) (14,242) (12,903) (14,304) (15,875) Total consolidated debt, net $ 3,861,452 $ 3,606,782 $ 3,820,895 $ 3,625,588 $ 3,785,503 Total liabilities $ 6,972,478 $ 5,915,143 $ 6,135,743 $ 5,358,337 $ 5,521,908 Fixed rate & hedged debt, including SLG share of unconsolidated JV debt $ 8,827,482 $ 8,711,539 $ 8,975,687 $ 8,720,916 $ 8,418,284 Variable rate debt, including SLG share of unconsolidated JV debt (1) 509,366 363,550 732,761 785,013 1,429,640 ASP debt, including SLG share of unconsolidated ASP JV debt 573,797 573,797 1,001,766 1,000,153 1,040,802 Total debt, including SLG share of unconsolidated JV debt $ 9,910,645 $ 9,648,886 $ 10,710,214 $ 10,506,082 $ 10,888,726 Selected Operating Data Property operating revenues $ 163,019 $ 156,930 $ 156,933 $ 150,632 $ 141,504 Property operating expenses (99,385) (89,129) (86,701) (84,759) (81,619) Property NOI $ 63,634 $ 67,801 $ 70,232 $ 65,873 $ 59,885 SLG share of unconsolidated JV Property NOI 113,876 118,072 122,936 117,506 116,741 Property NOI, including SLG share of unconsolidated JV Property NOI $ 177,510 $ 185,873 $ 193,168 $ 183,379 $ 176,626 SUMMIT Operator revenue 22,534 38,571 36,437 32,602 25,604 Investment income, including SLG share of unconsolidated JV 21,032 10,463 10,089 7,911 7,403 Interest income from real estate loans held by consolidated securitization vehicles, net 2,009 2,905 1,441 - - Other income, including SLG share of unconsolidated JV 23,518 31,805 26,894 35,077 17,162 Gain on early extinguishment of debt, including SLG share of unconsolidated JV - 25,985 - 48,482 141,664 SUMMIT Operator expenses (21,764) (28,792) (37,901) (23,188) (21,858) Transaction costs, including SLG share of unconsolidated JVs (295) (138) (171) (76) (16) Marketing general & administrative expenses (21,724) (22,827) (21,015) (20,032) (21,313) Income taxes 653 2,324 1,406 1,230 606 EBITDAre $ 228,512 $ 246,169 $ 210,348 $ 265,385 $ 325,878 (1) Does not reflect floating rate debt and preferred equity investments that provide a hedge against floating rate debt. Supplemental Information 10 First Quarter 2025 Attention: This is an excerpt of the original content. To continue reading it, access the original document here. AttachmentsOriginal documentPermalinkDisclaimer SL Green Realty Corporation published this content on April 16, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 17, 2025 at 12:04 UTC.
https://www.marketscreener.com
- 2 weeks ago
Aramark to Host Conference Call on Second Quarter Fiscal 2025 Results
PHILADELPHIA--(BUSINESS WIRE)--Aramark (NYSE:ARMK), a global leader in food and facilities management, announced that it will host a conference call to review its second quarter fiscal 2025 results on Tuesday, May 6, 2025 at 8:30 a.m. ET. A news release containing the results will be issued before the call. The conference call will be broadcast live on the Aramark Investor Relations website. Those parties interested in participation via dial-in may register here. Once registration is completed,.
businesswire.com
- 2 weeks ago
Building Community Locally and Globally: Aramark Employees Participate in Global Day of Service
PHILADELPHIA--(BUSINESS WIRE)--Employees from Aramark (NYSE: ARMK), a leading global provider of food and facilities services, give back to their local communities all year long through the company's flagship volunteer program, Aramark Building Community. As a part of this program, on Thursday, April 10, Aramark volunteers across the globe will join together in an annual day of service, Aramark Building Community Day (ABC Day). “Aramark is a hospitality company at its core,” said Debbie Albert,.
businesswire.com
- 3 weeks ago
Aramark's IN2WORK Job Skills Program Turns 20: Educational Path in Correctional Facilities Has Grown to 32 States, more than 290 Programs, and more than 14,000 Graduates
PHILADELPHIA--(BUSINESS WIRE)--Aramark Correctional Services is celebrating the 20th anniversary of its IN2WORK (I2W) program, a milestone in the journey of working with thousands of justice-impacted individuals, offering education and industry certifications for a path to success both during and post-incarceration. The opt-in IN2WORK program helps incarcerated people prepare for careers and re-entry into their communities by offering food and warehouse safety training—ServSafe Managers certifi.
businesswire.com
- 1 month ago
Aramark Receives Extel's All-American Executive Team Most Honored Company Award
PHILADELPHIA--(BUSINESS WIRE)---- $ARMK--Aramark, (NYSE:ARMK), was honored on March 20th for its selection in the large, aggregated industry (Business, Education, Professional Services) category to the All-American Executive Team rankings by Extel (formerly Institutional Investor). “We are honored and humbled to receive this recognition from the Wall Street community,” said John Zillmer, Aramark CEO. “This award is a testament to the hard work of our more than 250,000 employees worldwide and the hospital.
businesswire.com
- 1 month ago
Billionaire Investor’s Hedge Fund Has 100% of Its Assets in Just 2 Stocks
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. Paul Hilal founded Mantle Ridge in 2016. Before that, he spent a decade as a senior partner at Bill Ackman’s hedge fund, Pershing Square Capital Management, where he was involved in passive and activist investing initiatives. Hilal, a bright individual, graduated from Columbia University’s Graduate Law and Business programs in 1992 and has been in the investment business ever since. Entrepreneurial to the core, Mantle Ridge undertakes extensive research to find value-focused investments and collaborates with management to deliver enhanced shareholder value. This benefits both Hilal’s investors and the target’s existing shareholders. According to WhaleWisdom.com, it has $4.62 billion in assets under management, including $2.1 billion invested in U.S. listed stocks. In the final quarter of 2024, Mantle Ridge had just two holdings worth around $1 billion: one existing stock and one new addition. Here’s why he owns both Air Products & Chemicals (NYSE:APD) and Dollar Tree (NASDAQ:DLTR). Key Points About This Article: Billionaire investor Paul Hilal worked for Bill Ackman for a decade before starting his hedge fund, Mantle Ridge. The hedge fund has just two holdings; one is brand new. In January, Mantle Ridge led a successful proxy fight against Air Products & Chemicals (NYSE:APD). It led to three board seats and a new CEO. Over 4 Million Americans set to retire this year. If you’re one, don’t leave your future to chance. Speak with an advisor and learn if you’re ahead, or behind on your goals. Click here to get started. (Sponsored) Mantle Ridge Wins Proxy Fight With APD The news surfaced that the hedge fund had taken a significant position in the industrial gas supplier last October. The Wall Street Journal reported that Hilal’s firm started accumulating a position in APD stock in March 2024, which was only reported in the Q4 2024 13F holdings report. As of Dec. 31, 2024, Mantle Ridge held 4.11 million shares of Air Products, valued at $1.19 billion, accounting for 56.77% of the hedge fund’s portfolio. WhaleWisdom estimates the average price paid for the shares was $307.20. Hilal’s firm owns 1.85% of APD’s stock. Hilal sought to discuss possible capital allocation and strategic decisions that Air Products should consider to deliver for shareholders with the underperforming company’s management and board. It also wanted to see it carry out a succession plan for 80-year-old CEO, Seifi Ghasemi, to get someone younger in place. The report mentioned above was the first inkling of Mantle Ridge’s involvement. The hedge fund’s first SEC document to reveal its participation was its Nov. 19 proxy statement, seeking to appoint its full slate of nine director nominees at its 2025 annual meeting. Hilal was one of the nine. It also included a timeline of the events between Mantle Ridge’s first investment in March and the November filing. On January 23, Mantle Ridge gained three seats on its board: Hilal, Dennis Reilly, a former CEO of Praxair, now owned by Air Products competitor, Linde (NASDAQ:LIN) and Andrew Evans, a utility industry executive. Interestingly, Air Products CEO Ghasemi lost his seat on the board. Two weeks later, Eduardo F. Menezes was appointed CEO, and Ghasemi left the company after 10 years as CEO. Menezes was most recently Executive Vice President of Linde’s EMEA (Europe, Middle East, and Africa) business, which generates over $8 billion in annual revenue and has 18,000 employees in 40 countries. APD stock had gained 17% through the first five weeks of 2025. It’s since given back much of those gains. Based on WhaleWisdom’s average price estimate, Mantle Ridge remains underwater on its investment. However, the cancellation of three U.S. projects in February, should enable it to focus on the projects that will deliver greater value for shareholders. Mantle Ridge’s significant investment in Air Products should look better a year from now. The Second of Two Investments While Air Products is new to Mantle Ridge’s 13F holdings reports, Dollar Tree is not. The hedge fund first acquired shares in the dollar store business in Q4 2021. It now accounts for 43.23% of its assets and represents a 5.63% ownership stake in DLTR. It has taken three years for the hedge fund to accumulate the shares it owns today. In Q4 2021, it owned just 100 shares of DLTR stock, while its only other investment was 2.71 million shares of Aramark (NYSE:ARMK), which were valued at nearly $100 million. By the end of 2022, Mantle Ridge held 11.37 million shares valued at $1.61 billion, 12.10 million at the end of 2023, and the same amount in 2024 as 2023. The average price paid per share is $139.13, double its current price. What is Hilal doing to rescue his firm’s investment? After all, it acquired no additional shares in 2024, despite DLTR losing 47% of its value last year. You would think it would have doubled down. However, the dollar store industry isn’t doing well in America, primarily because its core customers are hurting financially. Changing the board around and other activist go-to moves won’t cut it. Last September, Bloomberg discussed the problems plaguing the dollar store industry. “‘We think the dollar store sector is under extreme pressure from both low-income customer weakness as well as incremental share leakage to competitors like Walmart,’ Truist Securities analysts including Scot Ciccarelli wrote in a note to investors on Wednesday. They said companies focused on low-income customers ‘have continued to substantially underperform given the cumulative, corrosive impact of inflation,” Bloomberg reported on Sept. 4. In November, after 20 months, CEO Rick Dreiling stepped down due to health issues. A month later, COO Michael Creedon, Jr., was named CEO. In February, the company added two retail and consumer goods industry veterans to the board. Shareholders can only hope that the strategic review of Family Dollar stores will result in the sale of what has been a significant disappointment since Dollar Tree acquired it in 2015. It continues to open Dollar Tree stores, grow same-store sales, and generate free cash flow, which was $390 million in the first nine months of 2024, over three times the amount it generated a year earlier. Mantle Ridge can only hope this is the beginning of a turnaround. The post Billionaire Investor’s Hedge Fund Has 100% of Its Assets in Just 2 Stocks appeared first on 24/7 Wall St..
https://247wallst.com
- 1 month ago
Aramark's Local Restaurant Row Celebrates Five Years of Investing in Neighborhood Restaurants: Partner Awards Announced
PHILADELPHIA--(BUSINESS WIRE)--Aramark's Local Restaurant Row (LRR) program, dedicated to fostering partnerships with local food vendors and restauranteurs around the country, is celebrating five years of growth and success in contributing to the economic vitality of the neighborhoods and communities where Aramark serves. Each year, Aramark recognizes its LRR partners with "Best Of" Awards which recognize Aramark's local restaurant partners for outstanding performance, growth, and excellence, a.
businesswire.com
- 1 month ago
Aramark to Participate in Upcoming UBS Investor Conference
PHILADELPHIA--(BUSINESS WIRE)--Aramark (NYSE: ARMK), a global leader in food and facilities management, announced that the Company's Chief Financial Officer, James Tarangelo, will participate in the UBS Global Consumer and Retail Conference on Thursday, March 13, 2025, with a featured Fireside Chat session beginning at 10:00 a.m. ET. A live audio webcast and replay of the fireside chat session will be available through the Investor Relations section of the Aramark website at www.aramark.com. Ab.
businesswire.com
- 1 month ago
Aramark Collegiate Hospitality Launches “Bites That Do It Right™" Recipes to Encourage Student Wellness
PHILADELPHIA--(BUSINESS WIRE)--Aramark Collegiate Hospitality is launching its Bites That Do It Right™ recipes during March's National Nutrition Month® to support college students with a variety of easy-to-prepare, healthy foods as part of Aramark's Take 15 program designed to help college students refuel with healthier snack choices and take 15 minutes for themselves throughout the day. "Many college students feel stressed and overwhelmed," said Brandi Heatherly, Collegiate Hospitality's Healt.
businesswire.com
- 1 month ago
Aramark Collegiate Hospitality Wins New Contract with Loyola Marymount University
PHILADELPHIA--(BUSINESS WIRE)---- $ARMK--Aramark Collegiate Hospitality is pleased to partner with Loyola Marymount University as its new food services provider, bringing fresh flavors, expanded options, and an enhanced experience for the LMU community. Aramark will manage all on-campus dining, retail, catering, and athletic concessions beginning in May 2025. “We're excited to welcome Aramark as a new partner that matches our long-term vision for on-campus dining excellence at LMU, and we look forward to.
businesswire.com
- 2 months ago
Aramark Facilities Management Recognized for Innovation at District Administration's Ed Tech Future of Education Conference
PHILADELPHIA--(BUSINESS WIRE)---- $ARMK--Aramark, (NYSE:ARMK), a leading global provider of facilities management with operations spanning the education, healthcare, business and industry, sports, leisure and corrections industries was named the 2025 Ed Tech Product Awards winner in the Large Company Campus Equipment and Technology category. Aramark received the award for its AIWX Connect technology platform. AIWX Connect is an intelligent platform using IoT technology to identify building and occupant n.
businesswire.com
- 2 months ago
8. Profile
Summary
Aramark ARMK
COUNTRY
US
INDUSTRY
Specialty Business Services
MARKET CAP
$ 8.56 B
Dividend Yield
0.28%
Description
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical support services, such as patient food and nutrition, retail food, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services. It also provides on-site restaurants, catering, convenience stores, and executive dining services; beverage and vending services; and facility management services comprising landscaping, transportation, payment, and other facility consulting services relating to building operations. In addition, the company offers concessions, banquet, and catering services; retail services and merchandise sale, recreational, and lodging services; and facility management services at sports, entertainment, and recreational facilities. Further, the company offers correctional food; and operates commissaries, laundry facilities, and property rooms. Additionally, it provides design, sourcing and manufacturing, delivery, cleaning, maintenance, and marketing services for uniforms and accessories; provides managed restroom services; and rents uniforms, work clothing, outerwear, particulate-free garments, and non-garment items and related services that include mats, shop towels, and first aid supplies. The company was formerly known as ARAMARK Holdings Corporation and changed its name to Aramark in May 2014. Aramark was founded in 1959 and is based in Philadelphia, Pennsylvania.
Contact
2400 Market Street, Philadelphia, PA, 19103
https://www.aramark.com
IPO
Date
Dec. 12, 2013
Employees
266680
Officers
Mr. Marc A. Bruno
Chief Operating Officer of U.S. Food & Facilities
Ms. Abigail A. Charpentier
Senior Vice President & Chief Human Resources Officer
Mr. Jack Donovan
President
Mr. Carl Mittleman
Chief Operating Officer of International
Ms. Felise Glantz Kissell
Investor Relations & Corporate Affairs Executive
Ms. Alison Birdwell
President of Sports & Entertainment
Mr. James J. Tarangelo
Senior Vice President & Chief Financial Officer
Ms. Lauren A. Harrington
Senior Vice President & General Counsel
Mr. Christopher T. Schilling
Senior Vice President, Controller, Principal Accounting Officer & Chief Accounting Officer
Mr. John J. Zillmer
Chief Executive Officer & Director