Aramark (ARMK)

Aramark Stock (ARMK) dropped by 8.17% from $28.52 to $26.19 in the trading on Tuesday November 14, 2023. The reasons why ARMK stock down today include:

• Q4 FY2023 results: ARMK reported Q4 revenue of $4.902 billion, beating the analyst consensus of $4.79 billion. Revenues increased 12% Y/Y. Quarterly adjusted EPS of $0.64 came in line with the estimates.
• Fiscal 2024 guidance : For FY24, Aramark sees organic revenue growth of 7% - 9% Y/Y, projecting adjusted operating income growth of 15% - 20%. The company expects Adjusted EPS growth of 25% - 35% for FY24.

Aramark (ARMK) dropped by 27.90% from $34.70 to $25.02 in the trading on Monday October 2, 2023. The reasons why stock ARMK is down today includes:

• Spinoff of Vestis: ARMK has spun off its uniform and workplace supply unit into a new company. The spinoff became official over the weekend, and the new company, Vestis, began trading on Monday morning. But the split is causing some confusion among stockholders.
• Concerns about the semiconductor industry: ARMK is a semiconductor company, and the semiconductor industry is going through some tough times. There are problems with getting the materials they need, costs are going up, and fewer people might want to buy chips. All of these difficulties could be making the price of ARMK's stock go down.