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Aug 31, 2024
UniFirst Q4 2024 Earnings Report
UniFirst reported strong Q4 2024 financial results, with revenue and operating income increasing significantly.
Key Takeaways
UniFirst Corporation reported an 11.9% increase in consolidated revenues for the fourth quarter, reaching $639.9 million. Operating income increased by 49.8% to $54.0 million, and net income rose by 61.5% to $44.6 million. Diluted earnings per share increased to $2.39 from $1.47 in the prior year, a 62.6% increase.
Consolidated revenues for Q4 increased by 11.9% to $639.9 million.
Operating income increased by 49.8% to $54.0 million.
Net income increased by 61.5% to $44.6 million.
Diluted earnings per share increased by 62.6% to $2.39.
UniFirst
UniFirst
UniFirst Revenue by Segment
Revenue by Segment
Core Laundry Revenue
CapyFin.comSpecialty Garments Revenue
CapyFin.comFirst Aid Revenue
CapyFin.com Forward Guidance
For fiscal year 2025, UniFirst expects revenues to be between $2.425 billion and $2.445 billion and fully diluted earnings per share to be between $6.79 and $7.19.
Positive Outlook
- Revenue is expected to be between $2.425 billion and $2.445 billion.
- Net income, at the midpoint of the range, is expected to be $131.0 million.
- Consolidated Adjusted EBITDA, at the midpoint of the range, is expected to be $330.0 million.
- Core Laundry Operations’ organic revenue growth, at the midpoint of the range, is expected to be 1.8%.
- Core Laundry Operations’ operating and Adjusted EBITDA margins, at the midpoint of the range, are expected to be 5.9% and 13.2%, respectively.
Challenges Ahead
- Fiscal 2025 has one less week compared to prior year.
- Guidance includes an estimated $16.0 million of costs directly attributable to Key Initiatives.
- The Key Initiatives are expected to decrease Core Laundry Operations’ operating and Adjusted EBITDA margins by 0.7% and EPS by $0.64.
- The effective tax rate is assumed to be 25.0%.
- Guidance does not include the impact of any future share buybacks or unexpected events affecting the economy generally.
Revenue & Expenses
Visualization of income flow from segment revenue to net income