Slide 1: Q2 Fiscal 2025 Earnings Results
Q2 Fiscal 2025 Earnings Results M AY 6, 2025 Q2 2025 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 Q2 Fiscal 2025 Growth Drivers Disciplined Capital Fiscal 2025 Highlights Across Business Allocation Strategy Outlook Segments Q2 2025 Earnings Results 3
Slide 4: Summary of Q2 Fiscal 2025 Highlights
Summary of Q2 Fiscal 2025 Highlights • Performance accelerated as quarter progressed 0 Revenue +2% • Strong new business wins and client retention over 98% Organic Revenue +3% • Revenue growth would have increased another 3% if not for certain items1 0 • Leveraged expanded Global Supply Chain capabi
Slide 5: Revenue Growth Across Segments
Revenue Growth Across Segments Aramark $4,279 $51 $4,330 $4,200 +3%* * Second quarter results were affected by the following items within the FSS United States segment: 1) prior year portfolio exits in Facilities; Organic Growth Aramark 2) fewer operating days due to a calendar shift at several univ
Slide 6: Year-to-Date FY25 Retention Rate vs Historical Annual Retention Rates
Year-to-Date FY25 Retention Rate vs Historical Annual Retention Rates Aramark Retention >98% 2 95.8% 95.6% 95.5% 95.2% 1 93.2% FY21 FY22 FY23 FY24 Year-to-Date FY25 1Overall retention rate and net new business reflect exiting some lower margin Facilities services accounts 2Core Foodservice business
Slide 7: Adjusted Operating Income and Margin Expansion
Adjusted Operating Income and Margin Expansion Aramark +30bps AOI Margin Aramark +11% $205 $187 • Profitability growth and margin expansion was from higher revenue levels, supply chain efficiencies, and disciplined operational cost management Q2 2024 Q2 2025 FSS United States FSS International +30bp
Slide 8: Growth Drivers Across Business Segments
Growth Drivers Across Business Segments • Collegiate Hospitality to benefit from meal plan optimization, leading to increased participation rates, as well as additional operating days in Q3 from calendar shift; Enhanced vertical and cross lines of business opportunities Education • Student Nutrition
Slide 9: Disciplined Capital Allocation Strategy
Disciplined Capital Allocation Strategy Continue to invest in business to drive and propel growth Strategic Outlays Opportunistic tuck-in acquisitions (Quantum, First Class Vending) Capital expenditures consistent with historical levels, supporting scale and driving innovation Strong free ca
Slide 10: Debt Maturity Profile - Extended Maturities and Enhanced Financial Flexibility
Debt Maturity Profile - Extended Maturities and Enhanced Financial Flexibility As of September 27, 2024 As of March 28, 2025 Undrawn AR Securization Term Loan A Drawn Revolver Term Loan A Drawn Revolving Credit Facility Undrawn Revolver Term Loan B 5.00% Sr Notes Undrawn Revolving Credit Facility Te
Slide 11: Fiscal 2025 Outlook
Fiscal 2025 Outlook Aramark continues to anticipate its full-year performance for fiscal 2025 as follows: ($ in millions, except EPS) FY24 FY25* Reference Point Year-Over-Year Growth1 Organic Revenue $17,401 +7.5% — +9.5% Adjusted Operating Income $882 +15% — +18% Adjusted EPS $1.55 +23% — +28% Leve
Slide 12: Q2 2025 Earnings Results
e aramark Q2.2025 Eamings Results
Slide 13: Appendix
Appendix Q2 2025 Earnings Results 13
Slide 14: Modeling Assumptions
Modeling Assumptions FY25 Modeling Assumptions* Seasonality: • Net Interest Expense: ~$330M (~$325M 52-week year) • AOI Margin – “U-shaped” cadence • Adjusted Tax Rate: ~26% driven primarily by higher profitability in Q1 and Q4 related to seasonal peak • Share count: ~271M activity in Education sect
Slide 15: Revenue by Segment
Revenue by Segment Three Months Ended Q1 2025 Three Months Ended Q2 2025 Six Months Ended YTD 2025 12/27/2024 12/29/2023 Change % 03/28/2025 03/29/2024 Change % 03/28/2025 03/29/2024 Change % Revenue (as reported) FSS United States: Business & Industry $ 432.2 $ 383.1 13 % $ 449.6 $ 396.7 13 % $ 881
Slide 16: CapEx and Client Payments
CapEx and Client Payments ($ in thousands) Three Months Ended Three Months Ended Six Months Ended 12/27/2024 12/29/2023 03/28/2025 03/29/2024 03/28/2025 03/29/2024 Purchases of property and equipment and other $ 119,861 $ 115,621 $ 115,800 $ 87,407 $ 235,661 $ 203,028 Payments made to clients on con
Slide 17: Quarterly Cadence of Free Cash Flow
Quarterly Cadence of Free Cash Flow Q1 Q2 Q3 Q4 FY $141 FY25 • Free Cash Flow – Q1 and Q4 typically experience a large outflow and inflow, respectively, due to the seasonal cadence of the Collegiate Hospitality, Sports & Entertainment, and Destination businesses $(705) • As expected, the second quar
Slide 18: Non-GAAP Schedules
Non-GAAP Schedules Q2 2025 Earnings Results 18
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 from continuing operations attributable to Aramark stockholders adjusted for interest expense, net; provision for income taxes; depreciation and amortization and certain oth
Slide 21: Revenue, AOI, and AOI Margin Quarter to Date
Revenue, AOI, and AOI Margin Quarter to Date ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES ADJUSTED CONSOLIDATED OPERATING INCOME MARGIN (Unaudited) (In thousands) Three Months Ended March 28, 2025 FSS United States FSS International Corporate Aramark and Subsidiaries Revenue (as repo
Slide 22: Revenue, AOI, and AOI Margin Year to Date
Revenue, AOI, and AOI Margin Year to Date ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES ADJUSTED CONSOLIDATED OPERATING INCOME MARGIN (Unaudited) (In thousands) Six Months Ended March 28, 2025 FSS United States FSS International Corporate Aramark and Subsidiaries Revenue (as reported)
Slide 23: 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 Six Months Ended March 28, 2025 March 29, 2024 March 28, 2025 March 29, 2024 Net Income Attributable to
Slide 24: Free Cash Flow
Free Cash Flow Q2 2025 Earnings Results 24
Slide 25: Q2 2025 Earnings Results
Q2 2025 Earnings Results