FMP
Aramark’s Upcoming Q1 Results Preview
Jan 23, 2023 7:58 AM - Davit Kirakosyan
Image credit: FMP
RBC Capital analysts provided their outlook on Aramark (NYSE:ARMK) ahead of the upcoming Q1 results and raised their price target to $48 from $45.
The analysts expect a modest upside to Q1/23, given the further improvement in RBC's proprietary GOAT Index while encouraging office occupancy data bodes well for continued B&I recovery. Moreover, revenues are recession-resilient, and the analysts expect sustained momentum in new business wins in key verticals such as higher education, K-12, healthcare, and international.
The analysts estimate Q1 revenue of $4.555 billion, modestly above the Street estimate of $4.527 billion, and EPS of $0.42, below the Street estimate of $0.44.
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