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May 29, 2021
UniFirst Q3 2021 Earnings Report
UniFirst reported financial results for the third quarter of fiscal year 2021.
Key Takeaways
UniFirst Corporation's Q3 2021 results showed positive growth. Consolidated revenues increased by 4.2% to $464.3 million. Operating income saw a significant increase of 95.5% to $54.2 million, and net income rose by 97.4% to $42.0 million. Diluted earnings per share increased to $2.21 from $1.12.
Consolidated revenues increased by 4.2% to $464.3 million.
Operating income increased significantly by 95.5% to $54.2 million.
Net income increased substantially by 97.4% to $42.0 million.
Diluted earnings per share increased to $2.21 from $1.12.
UniFirst
UniFirst
UniFirst Revenue by Segment
Revenue by Segment
Core Laundry Revenue
CapyFin.comSpecialty Garments Revenue
CapyFin.comFirst Aid Revenue
CapyFin.com Forward Guidance
UniFirst expects revenues for fiscal year 2021 to be between $1.810 billion and $1.817 billion, and fully diluted earnings per share to be between $7.80 and $8.00.
Positive Outlook
- Increased business activity from a recovering economy.
- Revenue for fiscal 2021 expected to be between $1.810 billion and $1.817 billion.
- Fully diluted earnings per share expected to be between $7.80 and $8.00.
- Core Laundry operations revenue increased 5.3%
- Specialty Garments revenue increased 5.7%
Challenges Ahead
- Margins expected to be pressured by the current inflationary environment.
- Margins expected to be pressured by a rebound of certain costs that trended lower during the pandemic.
- First Aid revenue decreased by 18.6%
- Operating margin for First Aid decreased by 86.3%
- Uncertainties caused by adverse economic conditions, including as a result of extraordinary events or circumstances such as the COVID-19 pandemic, and their impact on our customers’ businesses and workforce levels