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May 30, 2020
UniFirst Q3 2020 Earnings Report
Announced financial results for the third quarter of fiscal 2020.
Key Takeaways
UniFirst Corporation reported a decrease in consolidated revenues by 1.8% to $445.5 million for the third quarter. Operating income decreased by 54.0% to $27.7 million, and net income decreased by 54.9% to $21.3 million. Diluted earnings per share decreased by 54.5% to $1.12.
Consolidated revenues for the third quarter decreased 1.8% to $445.5 million.
Operating income was $27.7 million, a decrease of 54.0%.
Net income in the quarter decreased to $21.3 million from $47.2 million, or 54.9%.
Diluted earnings per share decreased to $1.12 from $2.46, or 54.5%.
Forward Guidance
Due to the evolving nature of the pandemic and its impact on our communities, we continue to believe that our ability to assess the financial impact on our business remains limited. As a result, we are not providing guidance for the remainder of our fiscal 2020. We believe that our strong balance sheet positions us well to weather this disruption and maintain focus on the care of our Team Partners, our customers and our communities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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