UniFirst reports strong Q4 and full year financial results, with increased revenues and net income.

From GlobeNewswire: 2024-10-23 08:00:00

UniFirst Corporation reported a strong fourth quarter and full year financial results, with consolidated revenues increasing to $639.9 million in Q4 and $2.427 billion for fiscal 2024. Net income increased by 40.3% to $145.5 million for the full year. Operating income for the year rose by 37.4% to $183.6 million. Adjusted EBITDA increased to $333.3 million for fiscal 2024, a 25.6% increase from the prior year. The company’s segment Core Laundry Operations saw revenues increase by 11.7% to $564.1 million for the quarter, with an operating margin increase to 8.0%.The Specialty Garments segment had revenues of $46.5 million in Q4, an increase of 12.3%.UniFirst had $175.1 million in cash, cash equivalents, and short-term investments as of August 31, 2024, with no long-term debt outstanding. The company paid dividends of $23.3 million in fiscal 2024. UniFirst expects revenues between $2.425 billion and $2.445 billion and fully diluted earnings per share between $6.79 and $7.19 for fiscal 2025. This includes estimated costs of $16.0 million for Key Initiatives expensed in 2025. UniFirst will hold a conference call today at 9:00 a.m. (ET) to discuss financial results and outlook.



Read more at GlobeNewswire:: Unifirst Announces Financial Results for the Fourth Quarter