Shares of Aramark (ARMK) surged over 6% in pre-market trading on Monday, as investors positioned themselves ahead of the company's highly anticipated third-quarter earnings report due out before the opening bell.
The outsourced food service provider is expected to report strong results, with Wall Street analysts projecting earnings of 53 cents per share on revenue of $4.46 billion for the July-September period, according to data compiled by Benzinga Pro.
If Aramark meets or exceeds those expectations, it would represent continued momentum for the Philadelphia-based company that has benefited from increased demand for its services as the economy recovers from the pandemic's impacts. The anticipated earnings strength underscores Aramark's solid positioning to capitalize on the rebound in travel, dining out and live events that drives its food and facilities management businesses across sectors like education, healthcare and leisure.
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