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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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