UNIFIRST CORP SEC 10-Q Report

UniFirst Corp, a leading provider of workplace uniforms and facility services, has released its Form 10-Q report for the third quarter of fiscal year 2025. The report highlights the company's financial and operational performance, showcasing steady growth in revenues and profitability, alongside strategic business developments and future outlooks.

Financial Highlights

• Revenues: $610.8 million, increased by 1.2% compared to the prior year period, driven by growth in Core Laundry Operations and strong new account sales.
• Operating Income: $48.2 million, representing a slight decrease of 0.6% from the prior year period, with operating income margin at 7.9%.
• Net Income: $39.7 million, up by 4.3% from the prior year period, reflecting improved operating cash flows and higher interest income.
• Income per share – Basic: Common Stock: $2.22, increased from $2.12 in the prior year period, indicating improved profitability per share.
• Income per share – Diluted: Common Stock: $2.13, up from $2.03 in the prior year period, reflecting the company's ability to generate higher earnings per share.

Business Highlights

• Revenue Segments: The Core Laundry Operations segment, which includes U.S. and Canadian Rental and Cleaning, Manufacturing, and Corporate, saw a revenue increase of 0.9% for the thirteen weeks ended May 31, 2025, primarily due to organic growth. Specialty Garments revenue increased by 0.5%, driven by growth in European nuclear and cleanroom operations, while First Aid revenue rose by 9.1% due to strong growth in the van business.
• Geographical Performance: The Core Laundry Operations segment experienced organic growth of 1.1% in the thirteen weeks ended May 31, 2025, with the Canadian dollar exchange rate impacting revenues by (0.2)%. The Specialty Garments segment saw growth in European operations, offset by a decrease in North American nuclear operations.
• Sales Units: The First Aid segment reported a 9.1% increase in revenues for the thirteen weeks ended May 31, 2025, attributed to strong growth in the van business, indicating an increase in sales units or service deliveries.
• Future Outlook: Management anticipates continued growth in the Core Laundry Operations segment, driven by solid new account sales and improved pricing strategies. The company is also focused on completing its ERP project by 2027, which is expected to enhance inventory utilization, vendor management, and customer order response times, ultimately reducing operating costs and customer churn.

SEC Filing: UNIFIRST CORP [ UNF ] - 10-Q - Jul. 09, 2025