Core Viewpoint - UniFirst's share price declined nearly 5% following the release of its fourth-quarter and full-year 2025 results, which was a more significant drop compared to the 0.5% dip of the S&P 500 [1] Financial Performance - UniFirst reported revenue of just over $614 million for the quarter, down from nearly $640 million in the same period of fiscal 2024. Net income fell to slightly more than $41 million ($2.23 per share) from $44.6 million in the previous year [2] - Despite the decline in fundamentals, both revenue and net income exceeded analyst estimates, which were less than $608 million for revenue and $2.08 per share for net income [3] Revenue Drivers - The revenue decline was attributed to factors such as acquisitions and the impact of an extra week of business operations in fiscal 2024. Excluding these factors, UniFirst would have achieved organic growth of almost 3% [4] Future Guidance - For fiscal year 2026, UniFirst projects revenue between nearly $2.48 billion and almost $2.5 billion, with earnings per share expected to be between $6.58 and $6.98. However, these projections are below average analyst forecasts of nearly $2.51 billion in revenue and $8.69 in earnings per share [5]

Core Viewpoint - UniFirst (UNF) reported quarterly earnings of $2.28 per share, exceeding the Zacks Consensus Estimate of $2.15 per share, but down from $2.46 per share a year ago, indicating a +6.05% earnings surprise [1] Financial Performance - The company achieved revenues of $614.45 million for the quarter ended August 2025, surpassing the Zacks Consensus Estimate by 1.03%, although this is a decrease from $639.87 million in the same quarter last year [2] - Over the last four quarters, UniFirst has exceeded consensus EPS estimates four times and topped consensus revenue estimates twice [2] Stock Performance and Outlook - Since the beginning of the year, UniFirst shares have increased by approximately 1.3%, while the S&P 500 has gained 14.5% [3] - The future performance of the stock will largely depend on management's commentary during the earnings call and the earnings outlook for the upcoming quarters [4][6] Earnings Estimates - The current consensus EPS estimate for the next quarter is $2.61 on revenues of $627.61 million, and for the current fiscal year, it is $8.84 on revenues of $2.52 billion [7] Industry Context - The Uniform and Related industry, to which UniFirst belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

Financial Data and Key Metrics Changes - Full-year revenues for fiscal 2025 reached $2.432 billion, a 2.1% increase compared to fiscal 2024 after adjusting for an additional week of operations in the previous year [5][21] - Consolidated revenues in Q4 2025 were $614.4 million, down from $639.9 million in the prior year, with a revenue growth of approximately 3.4% when excluding the extra week in fiscal 2024 [21][22] - Consolidated operating income for Q4 2025 was $49.6 million, compared to $54 million in the prior year, while net income decreased to $41 million or $2.23 per diluted share from $44.6 million or $2.39 per diluted share [21][22] Business Line Data and Key Metrics Changes - Uniform and Facility Service Solutions revenues for Q4 2025 were $560.1 million, a decrease of 4.4% from Q4 2024, with organic growth of approximately 2.9% [23][24] - First Aid and Safety Solutions segment revenues in Q4 2025 increased to $31.1 million, with organic growth of 12.4% driven by the segment's van business [25] - Revenues from the Other segment, which includes nuclear services, were $23.3 million, a decrease of 5.3% from Q4 2024 due to lower activity in North American nuclear operations [26] Market Data and Key Metrics Changes - The company experienced notable improvements in customer retention in fiscal 2025 after two years of elevated lost business, with positive trends in key leading indicators such as NPS scores [7] - The employment environment has impacted parts of the customer base, leading to fluctuations in wear-in numbers and overall growth rates [7][12] Company Strategy and Development Direction - The company aims to drive organic growth to mid-single digits and improve EBITDA margins into the high teens over the next couple of years [16] - Investments in technology and organizational initiatives are expected to enhance operational efficiency and scalability, particularly through the implementation of the Oracle ERP system [11][31] - The company is focusing on enhancing customer experience and operational excellence through the introduction of the UniFirst Way, a collection of service-focused procedures [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ability to drive meaningful improvements in overall profitability despite expected temporary setbacks in fiscal 2026 [14][16] - The impact of tariffs is anticipated to escalate in fiscal 2026, but the company believes it is well-positioned to navigate the evolving trade situation [12][13] - Management highlighted the importance of patience and thoughtful execution in addressing current sourcing and cost environments [16] Other Important Information - The company made significant investments in capital expenditures totaling $154.3 million in fiscal 2025, focusing on facility additions and system updates [26] - The company plans to continue deploying cash flows for strategic investments, including infrastructure enhancements and share buyback programs [18] Q&A Session Summary Question: Can you confirm the drivers for the guided 2.6% organic growth for Uniform and Facility Service Solutions? - Management indicated that while there is momentum in sales and retention, the economic outlook and fluctuations in employment cycles are contributing factors to the current organic growth outlook [34][35] Question: What are the expected impacts on margins for 2026? - Management noted that tariffs, sales and service investments, and digital transformation costs are expected to impact margins, with operational efficiencies anticipated to provide some offsets [37][38] Question: Will benefits from sales and service investments be realized in 2026? - Management clarified that while some benefits from sales and service investments will begin to materialize in 2026, significant ERP-enabled benefits are expected to emerge in 2027 and beyond [45][46] Question: How do you expect pricing dynamics to evolve in 2026? - Management acknowledged that pricing remains challenging due to inflation and tariffs, but they anticipate working through these dynamics with customers [53][54] Question: What is the expected impact of the nuclear services business in fiscal 2026? - Management expects a wind-down of a large project in the first quarter, with normal seasonality affecting the nuclear business throughout the year [75][76]

Financial Data and Key Metrics Changes - Full-year revenues for fiscal 2025 reached $2.432 billion, a 2.1% increase compared to fiscal 2024 after adjusting for an additional week of operations in the previous year [5][21] - Consolidated revenues in Q4 2025 were $614.4 million, down from $639.9 million in the prior year, with a revenue growth of approximately 3.4% when excluding the extra week in fiscal 2024 [21][22] - Consolidated operating income for Q4 2025 was $49.6 million, compared to $54 million in the prior year, while net income decreased to $41 million or $2.23 per diluted share from $44.6 million or $2.39 per diluted share [21][22] - Consolidated adjusted EBITDA for Q4 2025 was $88.1 million, down from $95 million in the prior year [21][22] Business Line Data and Key Metrics Changes - Uniform & Facility Service Solutions revenues for Q4 2025 were $560.1 million, a decrease of 4.4% from Q4 2024, with organic growth of approximately 2.9% [23][24] - First Aid & Safety Solutions segment revenues in Q4 2025 increased to $31.1 million, with organic growth of 12.4% driven by the segment's van business [25] - Revenues from the Other segment, which includes nuclear services, were $23.3 million, a decrease of 5.3% from Q4 2024 due to lower activity in North American nuclear operations [26] Market Data and Key Metrics Changes - The company noted improvements in customer retention and key performance metrics, despite a softer employment environment impacting parts of its customer base [7][8] - The First Aid & Safety Solutions segment is expected to achieve double-digit growth in fiscal 2026, reflecting strong market potential [17] Company Strategy and Development Direction - The company is focused on driving organic growth to mid-single digits and improving EBITDA margins into the high teens [16] - Investments in technology and organizational initiatives are aimed at enhancing customer experience and operational excellence [3][10] - The introduction of the UniFirst Way aims to unify operational approaches and improve service delivery [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's ability to drive meaningful improvements in overall profitability despite anticipated challenges in fiscal 2026 [14][19] - The impact of tariffs is expected to influence short to medium-term profitability, with ongoing efforts to mitigate cost increases [12][13] - Management acknowledged that fiscal 2026 may reflect a temporary step back in profitability due to investments in growth initiatives [16][28] Other Important Information - The company has a robust balance sheet with no long-term debt and cash equivalents totaling $209.2 million [26] - Capital expenditures for fiscal 2025 totaled $154.3 million, with ongoing investments in infrastructure and automation initiatives [26][18] Q&A Session Summary Question: Can you confirm the drivers for the guided 2.6% organic growth for Uniform & Facility Services? - Management indicated that improvements in sales and retention are expected, but challenges from the employment environment may impact growth [33][35] Question: What are the factors impacting margins for 2026? - Management highlighted tariffs, sales and service investments, and digital transformation costs as key factors affecting margins [37][38] Question: Will benefits from sales and service investments be seen in 2026? - Management stated that while some benefits may emerge, significant improvements from ERP-related investments are expected in 2027 and beyond [44][45] Question: What is the outlook for pricing in 2026? - Management noted that pricing remains challenging due to inflation and tariffs, but they expect to work through these dynamics with customers [53][55] Question: Can you provide insights on the nuclear services business for fiscal 2026? - Management expects a wind-down of a large project in the first quarter, with normal seasonality affecting performance throughout the year [75][76]

Financial Data and Key Metrics Changes - Full-year revenues for fiscal 2025 reached $2.432 billion, a 2.1% increase compared to fiscal 2024 after adjusting for an additional week of operations in the previous year [5] - Consolidated revenues in Q4 2025 were $614.4 million, down from $639.9 million in the prior year, with a revenue growth of approximately 3.4% when excluding the extra week in fiscal 2024 [18][21] - Consolidated operating income for Q4 2025 was $49.6 million, compared to $54 million in the prior year, while net income decreased to $41 million or $2.23 per diluted share from $44.6 million or $2.39 per diluted share [18] - Consolidated adjusted EBITDA for Q4 2025 was $88.1 million, down from $95 million in the prior year [18] Business Line Data and Key Metrics Changes - Uniform and Facility Service Solutions revenues for Q4 2025 were $560.1 million, a decrease of 4.4% from Q4 2024, with organic growth of approximately 2.9% [21][22] - First Aid and Safety Solutions segment revenues in Q4 2025 increased to $31.1 million, with organic growth of 12.4% driven by the segment's van business [23] - Revenues from the Other segment, which includes nuclear services, were $23.3 million, a decrease of 5.3% from Q4 2024 due to lower activity in North American nuclear operations [24] Market Data and Key Metrics Changes - The company noted improvements in customer retention and key performance metrics, despite a softer employment environment impacting parts of its customer base [6][12] - The company experienced notable improvements in retention after two years of elevated lost business, with positive trends in NPS scores and customers under contract [6] Company Strategy and Development Direction - The company aims to drive organic growth to mid-single digits and improve EBITDA margins into the high teens over the next couple of years [14] - Investments in technology and organizational initiatives are expected to enhance operational efficiency and scalability, particularly through the implementation of the Oracle ERP system [10][30] - The company is focusing on enhancing customer experience and operational excellence through the introduction of the UniFirst Way, a collection of service-focused procedures [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ability to drive meaningful improvements in overall profitability, despite expecting a temporary step back in profitability for fiscal 2026 due to ongoing investments [12][14] - The impact of tariffs is anticipated to escalate in fiscal 2026, with management taking steps to minimize cost increases through strategic sourcing and collaboration with customers [11][27] - The company expects to see continued improvements in customer retention and sales effectiveness, which are crucial for future growth [33][42] Other Important Information - The company generated solid cash flows from operating activities totaling $296.9 million in fiscal 2025, with capital expenditures of $154.3 million [24][25] - The company plans to continue strategic investments, including infrastructure enhancements and automation initiatives, to promote growth and efficiency [16] Q&A Session Summary Question: Can you confirm the drivers for the guided 2.6% organic growth for Uniform and Facility Service Solutions? - Management indicated that while there is momentum in sales and retention, the economic outlook and fluctuations in employment cycles are contributing factors to the current guidance [32][34] Question: What are the factors impacting margins for 2026? - Management highlighted tariffs, sales and service investments, and digital transformation costs as primary factors affecting margins, with expectations for operational efficiency to provide some offsets [35][36] Question: Will benefits from investments in sales and service be realized in 2026? - Management stated that while some benefits from sales and service investments will begin to materialize in 2026, significant improvements from ERP-related investments are expected to be realized in 2027 and beyond [40][42] Question: What is the expected impact of tariffs on pricing and client bases? - Management noted that the pricing environment remains challenging due to tariffs and inflation, but they anticipate working through these dynamics with customers [46][50] Question: Can you provide insights on the nuclear services segment's expected performance? - Management expects a wind-down of a large project in the first quarter of fiscal 2026, which will impact the nuclear services segment's performance, particularly in the first quarter [66][68]

Financial Data and Key Metrics Changes - Full year revenues reached $2,432,000,000, representing an increase of 2.1% compared to fiscal 2024 after adjusting for last year's additional week of operations [6] - Consolidated revenues for Q4 2025 were $614,400,000, compared to $639,900,000 a year ago, with a revenue growth of approximately 3.4% when excluding the extra week in fiscal 2024 [20][22] - Consolidated operating income for the quarter was $49,600,000, down from $54,000,000 in the prior year, and net income decreased to $41,000,000 or $2.23 per diluted share from $44,600,000 or $2.39 per diluted share [20] - Consolidated adjusted EBITDA for the quarter was $88,100,000 compared to $95,000,000 in the prior year [21] Business Line Data and Key Metrics Changes - Uniform and Facility Service Solutions revenues for the quarter were $560,100,000, a decrease of 4.4% from 2024, with organic growth of approximately 2.9% [22][23] - First Aid and Safety segment revenues increased to $31,100,000 with organic growth of 12.4%, driven by the segment's van business [24] - Revenues from the other segment, which consists of nuclear services, were $23,300,000, a decrease of 5.3% from 2024 due to lower activity in North American nuclear operations [25] Market Data and Key Metrics Changes - The company experienced notable improvements in customer retention in fiscal 2025 after two years of elevated loss business, with key leading indicators such as NPS scores trending positively [7] - The employment environment has softened, impacting parts of the customer base, with reductions in wearer numbers becoming more pronounced [7][12] Company Strategy and Development Direction - The company aims to drive organic growth to mid-single digits and improve EBITDA margins into the high teens over the next couple of years [16] - Investments are being made in strengthening service teams, expanding capacity and stability, and enhancing customer experience through the UniFirst Way [8][11] - The company is focused on optimizing procurement, inventory management, and sourcing facilitated by the Oracle ERP platform [15] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the ability to drive meaningful improvements in overall profitability despite expected temporary setbacks in fiscal 2026 [14][16] - The influence of tariffs is expected to impact short to medium-term profitability, with ongoing efforts to minimize cost increases [12][13] - The company anticipates that the investments in technology and service will yield benefits in the long term, although they may not be immediately visible [46][48] Other Important Information - The company has a robust balance sheet with no long-term debt and cash, cash equivalents, and short-term investments totaling $209,200,000 [25] - Capital expenditures totaled $154,300,000, with significant investments in ERP and facility enhancements [25][29] Q&A Session Summary Question: Confirmation of organic growth guidance for Uniform Facility Services - Management acknowledged the momentum in sales and retention but indicated that the economic outlook and reductions in wearer numbers would contribute to headwinds in organic growth for the current year [33][34] Question: Margin impacts and investments for 2026 - Management outlined that tariffs, sales investments, service investments, and digital transformation costs would contribute to margin headwinds, with expectations for operational efficiency to provide some offsets [36][37] Question: Trajectory of margins in fiscal 2026 - Management indicated that margins would likely follow historical patterns, with tariff impacts becoming more pronounced in the latter half of the year [75][76] Question: Expected softness in nuclear services - Management expects a wind down of a large project in the first quarter, with normal seasonality expected across quarters [79] Question: Pricing environment and client base changes - Management noted that pricing remains challenging due to inflation and tariffs, with a fluid environment impacting manufacturing clients [55][58]

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Core Insights - UniFirst Corporation reported its fourth quarter and full year financial results for fiscal 2025, highlighting a solid performance despite the absence of an extra operational week compared to the previous fiscal year [1][4]. Financial Highlights - Q4 2025 revenues were $614.4 million, down from $639.9 million in Q4 2024, but increased by 3.4% when excluding the impact of the extra week in the prior year [6][11]. - Full year revenues for fiscal 2025 reached $2.432 billion, a slight increase of 0.2%, with a 2.1% increase when excluding the extra week [6][11]. - Operating income for Q4 2025 was $49.6 million, compared to $54.0 million in Q4 2024, while full year operating income was $184.5 million, up 0.5% from the previous year [6][11]. - Net income for Q4 2025 was $41.0 million, down from $44.6 million in Q4 2024, while full year net income increased to $148.3 million from $145.5 million [6][11]. Segment Performance - The Uniform & Facility Service Solutions segment reported Q4 revenues of $560.1 million, a decrease from $586.0 million in the prior year, with organic growth of 2.9% attributed to new account sales and improved customer retention [6][11]. - The First Aid & Safety Solutions segment saw revenues of $31.1 million in Q4 2025, up from $29.3 million in Q4 2024, reflecting a strong organic growth of 12.4% [12]. - Adjusted EBITDA margin for the Uniform & Facility Service Solutions segment was 14.3% in Q4 2025, down from 14.9% in Q4 2024, impacted by investments in growth and digital transformation [6][8]. Cost and Investment Insights - Costs related to Key Initiatives, including CRM and ERP projects, amounted to $1.4 million in Q4 2025 and $6.8 million for the full year, affecting operating and Adjusted EBITDA margins [3][4][7]. - The company anticipates $7.0 million in costs related to Key Initiatives for fiscal 2026 [10]. Balance Sheet and Cash Flow - As of August 30, 2025, cash and cash equivalents totaled $203.5 million, an increase from $161.6 million in the prior year [12][17]. - Cash flow from operating activities increased to $296.9 million in fiscal 2025, reflecting a 0.5% growth [12][22]. - The company repurchased 402,415 shares for approximately $70.9 million during fiscal 2025, with $40.6 million remaining under its share repurchase authorization [12][22]. Future Outlook - For fiscal 2026, UniFirst expects revenues between $2.475 billion and $2.495 billion, with fully diluted earnings per share projected between $6.58 and $6.98 [10][12].

[Unaudited and Pro Forma Estimated Recast of Prior Financial Information](index=1&type=section&id=Unaudited%20and%20Pro%20Forma%20Estimated%20Recast%20of%20Prior%20Financial%20Information) This section presents unaudited and pro forma recast financial information for prior periods, including consolidated and segment-specific data [Consolidated Financial Data](index=1&type=section&id=Consolidated%20Financial%20Data) This section presents recast consolidated financial data, including revenue, operating income, and adjusted EBITDA, for Fiscal Year 2024 and the first three quarters of Fiscal Year 2025 [Consolidated Revenue](index=1&type=section&id=Consolidated%20Revenue) This section details the consolidated revenue performance for Fiscal Year 2024 and the first three quarters of Fiscal Year 2025 | Metric | Fiscal 2024 (Year Ended 8/31/2024) ($ thousands) | Fiscal 2024 (Thirteen Weeks Ended 5/25/2024) ($ thousands) | Fiscal 2025 (Thirteen Weeks Ended 5/31/2025) ($ thousands) | | :----------------------- | :------------------------------------------------ | :-------------------------------------------------------- | :-------------------------------------------------------- | | Consolidated Revenues | $2,427,431 | $603,328 | $610,778 | - Consolidated Revenues for the thirteen weeks ended 5/31/2025 increased by approximately **1.23%** to **$610,778 thousand** compared to **$603,328 thousand** for the thirteen weeks ended 5/25/2024[1](index=1&type=chunk) [Consolidated Operating Income](index=1&type=section&id=Consolidated%20Operating%20Income) This section presents the consolidated operating income for Fiscal Year 2024 and the first three quarters of Fiscal Year 2025 | Metric | Fiscal 2024 (Year Ended 8/31/2024) ($ thousands) | Fiscal 2024 (Thirteen Weeks Ended 5/25/2024) ($ thousands) | Fiscal 2025 (Thirteen Weeks Ended 5/31/2025) ($ thousands) | | :------------------------- | :------------------------------------------------ | :-------------------------------------------------------- | :-------------------------------------------------------- | | Consolidated Operating Income | $183,578 | $48,450 | $48,177 | - Consolidated Operating Income for the thirteen weeks ended 5/31/2025 slightly decreased by approximately **0.56%** to **$48,177 thousand** compared to **$48,450 thousand** for the thirteen weeks ended 5/25/2024[1](index=1&type=chunk) [Consolidated Adjusted EBITDA Reconciliation](index=1&type=section&id=Consolidated%20Adjusted%20EBITDA%20Reconciliation) This section provides a reconciliation of consolidated Adjusted EBITDA for Fiscal Year 2024 and the first three quarters of Fiscal Year 2025 | Metric | Fiscal 2024 (Year Ended 8/31/2024) ($ thousands) | Fiscal 2024 (Thirteen Weeks Ended 5/25/2024) ($ thousands) | Fiscal 2025 (Thirteen Weeks Ended 5/31/2025) ($ thousands) | | :-------------------------- | :------------------------------------------------ | :-------------------------------------------------------- | :-------------------------------------------------------- | | Net Income | $145,474 | $38,057 | $39,680 | | Provision for income taxes | $43,905 | $11,277 | $13,715 | | Interest income, net | $(7,242) | $(1,406) | $(2,514) | | Depreciation and amortization | $141,432 | $34,560 | $34,722 | | Share-based compensation expense | $9,773 | $2,303 | $3,015 | | Consolidated Adjusted EBITDA | $333,342 | $84,791 | $85,826 | - Consolidated Adjusted EBITDA for the thirteen weeks ended 5/31/2025 increased by approximately **1.22%** to **$85,826 thousand** compared to **$84,791 thousand** for the thirteen weeks ended 5/25/2024[1](index=1&type=chunk) [Segment-Specific Adjusted EBITDA Reconciliation](index=1&type=section&id=Segment-Specific%20Adjusted%20EBITDA%20Reconciliation) This section details the Adjusted EBITDA reconciliation for each of the company's operating segments, highlighting their individual contributions and performance trends [Uniform & Facility Service Solutions Adjusted EBITDA](index=1&type=section&id=Uniform%20%26%20Facility%20Service%20Solutions%20Adjusted%20EBITDA) This section details the Adjusted EBITDA for the Uniform & Facility Service Solutions segment | Metric | Fiscal 2024 (Year Ended 8/31/2024) ($ thousands) | Fiscal 2024 (Thirteen Weeks Ended 5/25/2024) ($ thousands) | Fiscal 2025 (Thirteen Weeks Ended 5/31/2025) ($ thousands) | | :----------------------------------- | :------------------------------------------------ | :-------------------------------------------------------- | :-------------------------------------------------------- | | Net Income | $174,828 | $44,262 | $48,461 | | Depreciation and amortization | $134,831 | $32,965 | $32,990 | | Share-based compensation expense | $9,193 | $2,177 | $2,858 | | Total Adjusted EBITDA | $311,610 | $77,998 | $79,003 | - Adjusted EBITDA for Uniform & Facility Service Solutions for the thirteen weeks ended 5/31/2025 increased by approximately **1.29%** to **$79,003 thousand** compared to **$77,998 thousand** for the thirteen weeks ended 5/25/2024[1](index=1&type=chunk) [First Aid & Safety Solutions Adjusted EBITDA](index=1&type=section&id=First%20Aid%20%26%20Safety%20Solutions%20Adjusted%20EBITDA) This section details the Adjusted EBITDA for the First Aid & Safety Solutions segment | Metric | Fiscal 2024 (Year Ended 8/31/2024) ($ thousands) | Fiscal 2024 (Thirteen Weeks Ended 5/25/2024) ($ thousands) | Fiscal 2025 (Thirteen Weeks Ended 5/31/2025) ($ thousands) | | :-------------------------------- | :------------------------------------------------ | :-------------------------------------------------------- | :-------------------------------------------------------- | | Net Income | $(1,832) | $148 | $525 | | Depreciation and amortization | $3,443 | $809 | $975 | | Share-based compensation expense | $99 | $25 | $30 | | Total Adjusted EBITDA | $1,710 | $982 | $1,530 | - Adjusted EBITDA for First Aid & Safety Solutions for the thirteen weeks ended 5/31/2025 significantly increased by approximately **55.80%** to **$1,530 thousand** compared to **$982 thousand** for the thirteen weeks ended 5/25/2024[1](index=1&type=chunk) [Other Segment Adjusted EBITDA](index=1&type=section&id=Other%20Segment%20Adjusted%20EBITDA) This section details the Adjusted EBITDA for the Other operating segment | Metric | Fiscal 2024 (Year Ended 8/31/2024) ($ thousands) | Fiscal 2024 (Thirteen Weeks Ended 5/25/2024) ($ thousands) | Fiscal 2025 (Thirteen Weeks Ended 5/31/2025) ($ thousands) | | :-------------------------------- | :------------------------------------------------ | :-------------------------------------------------------- | :-------------------------------------------------------- | | Net Income | $16,383 | $4,924 | $4,409 | | Depreciation and amortization | $3,158 | $786 | $757 | | Share-based compensation expense | $481 | $101 | $127 | | Total Adjusted EBITDA | $20,022 | $5,811 | $5,293 | - Adjusted EBITDA for the Other segment for the thirteen weeks ended 5/31/2025 decreased by approximately **8.91%** to **$5,293 thousand** compared to **$5,811 thousand** for the thirteen weeks ended 5/25/2024[1](index=1&type=chunk) [Unallocated Adjustments](index=1&type=section&id=Unallocated%20Adjustments) This section clarifies that 'Unallocated Adjustments' represent corporate and other items not included within reportable segments, which net to zero in consolidation - Unallocated Adjustments represent corporate and other items not included within the reportable segments and net to zero in consolidation[1](index=1&type=chunk)

Core Viewpoint - UniFirst Corporation is restructuring its reporting organization, transitioning from five segments to three reportable segments to better reflect current business management and performance assessment [1][2][3] Summary of Reporting Changes - The previous five segments included U.S. and Canadian Rental and Cleaning, Manufacturing, Corporate, First Aid, and Specialty Garments Rental and Cleaning. The new structure consolidates these into three segments: Uniform & Facility Service Solutions, First Aid & Safety Solutions, and Other [2][3][6] - The Uniform & Facility Service Solutions segment combines the former U.S. and Canadian Rental and Cleaning, Manufacturing, and Corporate segments, now also including cleanroom solutions [3][6] - The First Aid segment has been renamed to First Aid & Safety Solutions, reflecting a broader scope of services and products [4][6] - The Other segment now consists of nuclear solutions, previously part of Specialty Garments, focusing on specialty garments and non-garment items for nuclear applications [5][6] Financial Performance Metrics - Key performance measures for the segments will continue to be revenues and operating income, with adjusted EBITDA provided for additional insights [7] - Historical financial data for the new segments has been recast to assist investors in understanding the impact of these changes, covering seven quarters of metrics from fiscal 2024 to fiscal 2025 [8][9] Company Overview - UniFirst Corporation is a leader in North America for uniform and workwear programs, facility service products, and first aid and safety supplies, managing specialized garment programs for cleanroom and nuclear industries [10] - The company operates over 270 service locations and serves more than 300,000 customer locations, employing over 16,000 team members [10]