UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 25, 2024 OR (I.R.S. Employer Identification No.) | Securities registered pursuant to Section 12(b) of the Act: | | | | --- | --- | --- | | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | Common Stock, $0.10 par value per share | UNF | New York Stock Exchange | Indi ...

Luis Alvarez/DigitalVision via Getty Images Investment action I recommended a buy rating for UniFirst Corp. (NYSE:UNF) when I wrote about it in January this year, as I expected the business to continue growing at a mid-to-high single-digit percentage. As the business scales, it should continue to win share and expand margins. Based on my current outlook and analysis, I recommend a buy rating. My key update to my thesis is that I am now more confident that UNF can continue to expand margins as it scales, esp ...

UniFirst Today UNF UniFirst $171.50 -4.54 (-2.58%) 52-Week Range $149.58 ▼ $187.22 Dividend Yield 0.77% P/E Ratio 25.04 Price Target $186.00 Add to Watchlist UniFirst NYSE: UNF is a quality business with savvy management working hard to improve shareholder value. The efforts include upgrading technology to the latest in enterprise resource planning (ERP) and customer relationship management (CRM) software, helping drive margin. While headwinds persist, they are diminishing and have the company set up to lev ...

UniFirst Corporation (UNF) reported third-quarter fiscal 2024 (ended May 25, 2024) adjusted earnings of $2.19 per share, which surpassed the Zacks Consensus Estimate of $1.88. The bottom line increased 69.8% year over year. On a reported basis, the company's earnings were $2.03 per share, up 57.4% year over year. Notably, it incurred costs of 16 cents per share, associated with the acquisition of Clean Uniform and the implementation of its customer relationship management computer system and enterprise reso ...

UniFirst Corporation (NYSE:UNF) Q3 2024 Earnings Call Transcript June 26, 2024 9:00 AM ET Company Participants Steven Sintros - President and CEO Shane O'Connor - EVP and CFO Conference Call Participants Ronan Kennedy - Barclays Andrew Wittmann - Baird Kartik Mehta - Northcoast Research Luke McFadden - William Blair Andrew Steinerman - JPMorgan Josh Chan - UBS Operator Good day, and thank you for standing by. Welcome to the Third Quarter 2024 UniFirst Earnings Conference Call. At this time, all participants ...

UniFirst (UNF) reported $603.33 million in revenue for the quarter ended May 2024, representing a year-overyear increase of 4.6%. EPS of $2.19 for the same period compares to $1.29 a year ago. The reported revenue represents a surprise of +0.39% over the Zacks Consensus Estimate of $600.97 million. With the consensus EPS estimate being $1.88, the EPS surprise was +16.49%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

UniFirst (UNF) came out with quarterly earnings of $2.19 per share, beating the Zacks Consensus Estimate of $1.88 per share. This compares to earnings of $1.29 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 16.49%. A quarter ago, it was expected that this uniform provider would post earnings of $1.41 per share when it actually produced earnings of $1.22, delivering a surprise of -13.48%. Over the last four quarters, the compa ...

Core Laundry Operations Specialty Garments Financial Outlook UniFirst Corporation will hold a conference call today at 9:00 a.m. (ET) to discuss its quarterly financial results, business highlights and outlook. A simultaneous live webcast of the call will be available over the Internet and can be accessed at www.unifirst.com. This public announcement contains forward-looking statements within the meaning of the federal securities laws that reflect the Company's current views with respect to future events an ...

Financial Performance - Consolidated revenues for Q3 2024 increased by 4.6% to $603.3 million compared to $576.7 million in Q3 2023 [6][12] - Operating income rose significantly by 45.1% to $48.5 million, while net income increased by 56.8% to $38.1 million [6][12] - Diluted earnings per share increased to $2.03 from $1.29, reflecting a growth of 57.4% [6][12] - EBITDA for the quarter increased by 29.0% to $82.5 million compared to $64.0 million in the prior year [6][12] Key Initiatives and Costs - The financial results included costs of approximately $3.9 million and $8.4 million related to customer relationship management (CRM) and enterprise resource planning (ERP) projects for Q3 2024 and 2023, respectively [2][14] - Costs associated with the acquisition of Clean Uniform during Q3 2023 amounted to approximately $0.7 million [2][14] - These costs combined decreased Core Laundry Operations' operating margin and EBITDA margin by 0.7% and 1.8%, respectively, for both Q3 2024 and 2023 [14][24] Segment Performance - Core Laundry Operations reported revenues of $528.5 million, reflecting a 5.3% increase, while organic growth was 4.7% [17][18] - The operating margin for Core Laundry Operations improved to 7.0% from 4.2%, and the EBITDA margin increased to 13.1% from 9.9% [6][12][24] - Specialty Garments segment revenues decreased by 3.7% to $47.6 million, primarily due to a decline in nuclear operations [25] Cash Flow and Balance Sheet - Cash, cash equivalents, and short-term investments totaled $125.4 million as of May 25, 2024, with no long-term debt outstanding [3][6] - Cash flow from operating activities increased by 35.2% to $193.0 million for the first nine months of 2024 compared to the prior year [6][12] Financial Outlook - The company expects revenues for fiscal 2024 to be between $2.415 billion and $2.425 billion, with fully diluted earnings per share projected between $7.17 and $7.49 [9][27] - An estimate of $12.0 million in costs related to Key Initiatives is expected to decrease both operating and EBITDA margins by 0.6% [27]

Consolidated revenues for the third quarter increased 4.6% to $603.3 million. Operating income was $48.5 million, an increase of 45.1%. The quarterly tax rate decreased to 22.9% compared to 27.2% in the prior year. Net income increased to $38.1 million from $24.3 million in the prior year, or 56.8%. Diluted earnings per share increased to $2.03 from $1.29 in the prior year, or 57.4%. EBITDA increased to $82.5 million compared to $64.0 million in the prior year, or 29.0%. Cash flow from operating activities ...