UniFirst Q3 revenue misses estimates, maintains FY revenue outlook
Overview
UniFirst fiscal Q3 revenue rises 1.2% but missed analyst expectations, per LSEG data
Net income for fiscal Q3 increased 4.3% to $39.7 mln
Co repurchased $13.6 mln of shares during the quarter
Outlook
Company maintains annual revenue guidance of $2.422 bln to $2.432 bln
UniFirst raises diluted EPS guidance to $7.60-$8.00
Company notes fiscal 2025 has one less week of operations
Result Drivers
REVENUE MISS - Revenue rose 1.2% to $610.8 million, missing analyst expectations of $614.5 million, attributed to sluggish organic growth of 1.1% in core laundry operations
KEY INITIATIVES COSTS - CRM and ERP projects reduced operating income and adjusted EBITDA by $1.0 million, impacting margins
GAIN ON SALE - Net income benefited from a $2.8 million gain on the sale of a non-operating property
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $610.78 mln | $614.50 mln (3 Analysts) |
Q3 EPS |
| $2.13 |
|
Q3 Net Income |
| $39.68 mln |
|
Q3 Operating Income |
| $48.18 mln |
|
Q3 Pretax Profit |
| $53.40 mln |
|
Press Release: ID:nGNX9QrQh3
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