UniFirst Q4 revenue beats estimates on uniform segment growth

UniFirst

Yesterday 13:09

Overview
US uniform services firm's fiscal Q4 revenue rose 5% yr/yr, beating analyst expectations
Adjusted EBITDA for fiscal Q4 increased yr/yr, while operating income declined
Q4 results impacted by $14.4 mln in merger and ERP project costs

Outlook
UniFirst is no longer providing financial guidance due to the pending merger with Cintas

Result Drivers
UNIFORM & FACILITY SERVICE GROWTH - Q4 revenue growth was primarily driven by organic growth in the core Uniform & Facility Service Solutions segment
COST MIX - Lower merchandise and selling costs supported margins, partially offset by higher production and healthcare claims expenses
MERGER AND ERP COSTS - Q4 results were negatively affected by $14.4 mln in merger-related costs and $2.8 mln in ERP project expenses

Company press release: ID:nGNX23bVdS

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$645.005 mln
$634.41 mln (3 Analysts)
Q4 Net Income
 
$34.73 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)