UniFirst Q2 rev up 11.5% to $542.7M, net income down 3.5%; FY23 EPS guided $5.02-5.37

UNIFIRST CORP

2023-Q2 EPS reported $2.76 revenue$1,084,489,000

Consolidated revenues up 11.5% to $542.7M; net income down 3.5% to $17.8M; diluted EPS $0.95 (-2.1%).
Core Laundry operating margin fell to 2.9% from 4.3%, hurt by higher merchandise costs and inflation.
Specialty Garments revenue up 18.5% to $42.1M; operating margin improved to 19.1% from 10.8%.
Clean Uniform acquisition closed March 13; expected to add $42M revenue but reduce op income by $0.5M in FY23.
FY23 guidance: revenue $2.21-2.22B, EPS $5.02-5.37; includes $40M Key Initiative costs and $4M acquisition expenses.

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 fiscal 2023 results: revenue between $2.210 billion and $2.220 billion, EPS between $5.02 and $5.37. Guidance reaffirmed.

Period: fiscal 2023
Revenue: between $2.210 billion and $2.220 billion
EPS: between $5.02 and $5.37
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

The Company now expects its revenues for fiscal 2023 to be between $2.210 billion and $2.220 billion. We further expect diluted earnings per share to be between $5.02 and $5.37.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNIFIRST CORP reported second quarter ended February 25, 2023 results: revenue $542.7 million, net income $17.8 million, EPS $0.95. Guidance reaffirmed.

Period: second quarter ended February 25, 2023
Revenue: $542.7 million
Net income: $17.8 million
EPS: $0.95
Guidance: reaffirmed
Result: reported results

Exact text from the filing

second quarter ended February 25, 2023 as compared to the corresponding period in the prior fiscal year: Q2 2023 Financial Highlights • Consolidated revenues increased 11.5% to $542.7 million. • Operating income was $20.7 million, a decrease of 8.4%. • The quarterly tax rate increased to 24.6% compared to 19.0% in the prior year. • Net income decreased to $17.8

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Source: SEC EDGAR

accession 0000950170-23-010443

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