Aramark · NYSE:ARMK
Aramark — Q3 2026 Earnings Presentation
29 slides from Aramark's earnings presentation, Aug 11, 2026
Slide 1: Q3 Fiscal 2026 Earnings Results
Q3 Fiscal 2026 Earnings z Results AUGUST 11, 2026 Q3 2026 Earnings Results
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations as to future events based on certain assumptions and include any statement that does not di
Slide 3: Overview
Overview 1 2 3 4 Q3 Fiscal 2026 Revenue & Profit Aramark Nexus Fiscal 2026 Highlights Growth Drivers Capabilities Outlook Q3 2026 Earnings Results 3
Slide 4: Summary of Q3 Fiscal 2026 Results
Summary of Q3 Fiscal 2026 Results • Performance driven by broad-based net new business and base business momentum 0 • Revenue growth would have increased approximately +11% without the calendar shift Revenue +9% • New client wins totaling more than $1.6 billion fiscal year to date, +51% higher than
Slide 5: Revenue Growth Across Segments
Revenue Growth Across Segments Aramark Organic Growth: +9% $4,626 $5,058 $5,025 ($33) Q3 '25 Q3 '26 Effect -$33of Q3 '26 Revenue Revenue Currency Organic (as reported) (as reported) Translation Revenue FSS United States FSS International Organic Growth: +8% Organic Growth: +11% $3,247 $3,496 $3,496
Slide 6: Q3 Growth Drivers Across Business Segments
Q3 Growth Drivers Across Business Segments • Results reflected the calendar shift in the quarter; Sector would have achieved more than 7% growth absent the shift, which is expected to be fully recaptured in the fourth quarter • Collegiate Hospitality benefited from increased residential meal plan en
Slide 7: Aramark Nexus: Operational and Scaling
Aramark Nexus: Operational and Scaling Top Global Hyperscaler • First site: Operations launched; Revenue and AOI contributing • Second site: Mobilization underway • Scope of work across both sites expected to increase ~40% from original estimates • Started scaling service offerings • Client has indi
Slide 8: Aramark Nexus: Capabilities
Aramark Nexus: Capabilities From housing to restaurants and everything in between, Aramark Nexus connects every facet of a client’s workforce experience through one seamlessly integrated solution Employee Accommodations Culinary and Retail Facilities Management Purpose-built workforce Scalable dinin
Slide 9: AOI Profitability Across Segments
AOI Profitability Across Segments Aramark AOI Growth: +13% AOI growth would have increased 21% with AOI margin expansion of +50 basis points, without the calendar shift AOI Margin: Nearly +20bps $261 $230 Q3 2025 Q3 2026 FSS United States FSS International AOI Growth: +11% AOI Growth: +24% AOI Margi
Slide 10: Quarterly Cadence of Free Cash Flow
Quarterly Cadence of Free Cash Flow (in Millions) Q1 Q2 Q3 Q4 FY $305 • Net Cash provided by Operating Activities in the quarter grew +$41 million and Free Cash Flow FY26 $9 increased +$42 million • Higher cash flow in the quarter predominantly driven by stronger business performance and earnings gr
Slide 11: Disciplined Capital Allocation Priorities
Disciplined Capital Allocation Priorities • Continue to invest in business to drive and propel growth STRATEGIC OUTLAYS • Opportunistic tuck-in acquisitions • Capital expenditures driving client enhancements along with scale and innovation • Strong free cash flow generation supports leverage reducti
Slide 12: Fiscal 2026 Outlook
Fiscal 2026 Outlook As a result of Aramark's strong financial performance throughout Fiscal 2026, the Company raised its full-year Organic Revenue growth Outlook. In addition to the continued growth momentum across Aramark’s broader portfolio, this increase reflects the contribution from commencing
Slide 13: Q3 2026 Earnings Results
e aramark Q3 2026 Earnings Results
Slide 14: Appendix
Appendix Q3 2026 Earnings Results
Slide 15: Modeling Assumptions
Modeling Assumptions FY26 Modeling Assumptions • Net Interest Expense: $315M - $325M • Adjusted Tax Rate: 25.5% • Share Count: ~270M • Effect of Currency Translation: ◦ Revenue: ~$185M Q3 2026 Earnings Results 15
Slide 16: Revenue by Segment
Revenue by Segment Three Months Ended Q1 2026 Three Months Ended Q2 2026 Three Months Ended Q3 2026 Nine Months Ended YTD 2026 01/02/2026 12/27/2024 Change % 04/03/2026 03/28/2025 Change % 07/03/2026 06/27/2025 Change % 07/03/2026 06/27/2025 Change % Revenue (as reported) FSS United States: Business
Slide 17: CapEx and Client Payments
CapEx and Client Payments ($ in thousands) Three Months Ended Three Months Ended Three Months Ended Nine Months Ended 01/02/2026 12/27/2024 04/03/2026 03/28/2025 07/03/2026 06/27/2025 07/03/2026 06/27/2025 Purchases of property and equipment and other $ 122,156 $ 119,861 $ 101,276 $ 115,800 $ 112,36
Slide 18: Non-GAAP Schedules
Non-GAAP Schedules Q3 2026 Earnings Results
Slide 19: Selected Operational and Financial Metrics
Selected Operational and Financial Metrics Adjusted Revenue (Organic) Adjusted Revenue (Organic) represents revenue adjusted to eliminate the impact of currency translation. Adjusted Operating Income Adjusted Operating Income represents operating income adjusted to eliminate the impact of amortizati
Slide 20: Selected Operational and Financial Metrics (continued)
Selected Operational and Financial Metrics (continued) Covenant Adjusted EBITDA Covenant Adjusted EBITDA represents net income attributable to Aramark stockholders adjusted for interest expense, net; provision for income taxes; depreciation and amortization and certain other items as defined in our
Slide 21: Revenue, AOI and AOI Margin QTD
Revenue, AOI and AOI Margin QTD ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES ADJUSTED CONSOLIDATED OPERATING INCOME MARGIN (Unaudited) (In thousands) Three Months Ended July 3, 2026 Aramark and FSS United States FSS International Corporate Subsidiaries Revenue (as reported) $ 3,496,3
Slide 22: Revenue, AOI and AOI Margin YTD
Revenue, AOI and AOI Margin YTD ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES ADJUSTED CONSOLIDATED OPERATING INCOME MARGIN (Unaudited) (In thousands) Nine Months Ended July 3, 2026 Aramark and FSS United States FSS International Corporate Subsidiaries Revenue (as reported) $ 10,288,7
Slide 23: Organic Revenue, AOI, and AOI Margin Growth without the Calendar Shift
Organic Revenue, AOI, and AOI Margin Growth without the Calendar Shift Q3 2026 Earnings Results 23
Slide 24: Education Organic Revenue Growth without the Calendar Shift
Education Organic Revenue Growth without the Calendar Shift ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES EDUCATION ORGANIC REVENUE GROWTH WITHOUT THE CALENDAR SHIFT (Unaudited) (In thousands) Three Months Ended July 3, 2026 Revenue (as reported) $ 784,226 Adjusted Revenue (Organic) $
Slide 25: Adjusted EPS
Adjusted EPS ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES ADJUSTED NET INCOME & ADJUSTED EARNINGS PER SHARE (Unaudited) (In thousands, except per share amounts) Three Months Ended Nine Months Ended July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025 Net Income Attributable to Arama
Slide 26: Adjusted EPS Growth without the Calendar Shift
Adjusted EPS Growth without the Calendar Shift Q3 2026 Earnings Results 26
Slide 27: Net Debt to Covenant Adjusted EBITDA
Net Debt to Covenant Adjusted EBITDA ARAMARK AND SUBSIDIARIES (1) Represents share-based compensation expense of equity awards resulting from the application of RECONCILIATION OF NON-GAAP MEASURES accounting for stock options, restricted stock units, performance stock units and deferred stock unit N
Slide 28: Free Cash Flow
Free Cash Flow ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES FREE CASH FLOW (Unaudited) (In thousands) Three Months Ended Three Months Ended Six Months Ended Three Months Ended Nine Months Ended January 2, 2026 April 3, 2026 April 3, 2026 July 3, 2026 July 3, 2026 Net Cash (used in) p
Slide 29: This is Aramark
This is Aramark Built on service, enabled by people, focused on Empowered Delivering Grounded what matters most People & Global Scale In Integrity Service & Purpose Q3 2026 Earnings Results 29