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Ian Defina

Managing Director and Senior Equity Analyst at Oppenheimer

Ian Defina is a Managing Director and Senior Equity Analyst at Oppenheimer, specializing in technology and software equities within the investment banking sector. He covers several high-profile technology companies, delivering actionable investment recommendations with a documented track record of generating positive returns and consistently ranking among top Wall Street analysts on platforms like TipRanks. Defina began his career in finance over a decade ago, with prior roles at major institutions before joining Oppenheimer, where he has established a reputation for thorough sector analysis and strong performance. He holds FINRA securities licenses and maintains active registration as an investment professional, underscoring his commitment to industry standards and compliance.

Ian Defina's questions to Aramark (ARMK) leadership

Question · Q4 2025

Ian Defina inquired about the shift in timing for new account openings, asking if it was concentrated in particular sectors, if it's expected to continue, and if any economic factors contributed to the delays.

Answer

CEO John Zillmer explained that the opening shifts occurred across multiple businesses, including corrections, workplace experience, and healthcare, primarily driven by client timing and the need for seamless transitions. He noted that while the impact was significant in the quarter, it was not typical, and Aramark achieved $1 billion in net new business and $1.6 billion in gross new wins with a 96.3% retention rate. Regarding the 2026 cadence, Zillmer clarified that the UPenn contract will begin operations in February 2026 and ramp up over several months, with a robust pipeline and early successes indicating a more normal cadence for the upcoming fiscal year.

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