ARMK - Why Aramark Stock Was Down on Tuesday
Aramark (NYSE: ARMK) stock stumbled on Tuesday, down by 10% as of 2 p.m. ET, compared to a 0.1% drop in the S&P 500 . That move pushed the food and uniform services specialist into negative territory for 2023, although shares are still beating the market by a comfortable margin over the past full year.
The slump came as Wall Street digested Aramark's latest quarterly earnings results.
Sales growth was strong in the fiscal Q1 period that ran through late December. Organic revenue jumped 18%, with gains occurring across all business lines. Aramark added new clients and raised prices.
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Why Aramark Stock Was Down on Tuesday