UniFirst Q1 revenue up 11.4% to $541.8M, adj. EPS $2.21, reaffirms FY2023 guidance

UNIFIRST CORP

2023-Q1 EPS reported $1.81 revenue$541,798,000

Revenue $541.8M (+11.4% YoY); diluted EPS $1.81; adjusted diluted EPS $2.21 (+10.5%).
Core Laundry revenues $477.4M (+11.3%); organic growth 10.7%; adjusted operating margin 9.2% vs 9.9% prior year.
Specialty Garments revenues $44.1M (+11.6%); operating margin 23.1% vs 21.9%.
Reaffirmed FY2023 guidance: revenue $2.145-2.160B, diluted EPS $5.50-5.90, adj. EPS $7.10-7.50.
Key Initiative costs $10.0M in Q1; no debt; $351.2M cash; no share repurchases in quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNIFIRST CORP reported first quarter of fiscal 2023 ended November 26, 2022 results: revenue $541.8 million, net income $34.0 million, EPS $1.81. Guidance reaffirmed.

Period: first quarter of fiscal 2023 ended November 26, 2022
Revenue: $541.8 million
Net income: $34.0 million
EPS: $1.81
Guidance: reaffirmed
Result: reported results

Exact text from the filing

• Consolidated revenues for the first quarter increased 11.4% to $541.8 million. • Operating income was $43.4 million, a decrease of 3.1%. • The quarterly tax rate increased to 25.2% compared to 24.6% in the prior year. • Net income increased to $34.0 million from $33.7 million in the prior year, or 0.7%. • Diluted earnings per share increased to $1.81 from $1.77 in the prior year, or 2.3%.

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Source: SEC EDGAR

accession 0000950170-23-000099

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