Unifirst Announces Financial Results for the First Quarter of Fiscal 2025

Financial Performance - Consolidated revenues for Q1 2025 increased by 1.9% to $604.9 million compared to the prior year [6] - Operating income rose by 4.5$55.5 million, while net income increased by 1.8% to $43.1 million [6] - Diluted earnings per share grew by 2.2$2.31, and Adjusted EBITDA increased by 5.9% to $94.0 million [6] - The quarterly tax rate increased to 25.6$532.7 million, with organic growth also at 1.7% [7] - Specialty Garments revenues grew by 2.9% to $45.9 million, driven by growth in European and North American nuclear operations [8] - Core Laundry Operations' Adjusted EBITDA margin improved to 14.8$2.5 million in Q1 2025, decreasing Core Laundry Operations' operating and Adjusted EBITDA margins by 0.5% [2][18] - The company expects $16.0 million in costs directly attributable to Key Initiatives for fiscal 2025 [9] Balance Sheet and Cash Flow - Cash, cash equivalents, and short-term investments totaled$181.0 million as of November 30, 2024, with no long-term debt outstanding [8] - Cash flow from operating activities increased by 27.3% to $58.1 million in Q1 2025 [8] - The company repurchased 33,605 shares of Common Stock for$6.4 million during the quarter [8] Financial Outlook - The company expects fiscal 2025 revenues to be between $2.425 billion and$2.440 billion, with diluted earnings per share projected between $6.79 and$7.19 [9] - The outlook assumes a constant Canadian exchange rate of $0.74, despite recent declines in the Canadian dollar's value [9]