Vestis Q2 revenue $705M, guidance cut; cash flow strong but results miss

Vestis Corp

2024-Q2 EPS reported $0.14 revenue$1,423,291,000

Revenue $705M, up 0.9% YoY; core growth 2.8% excluding FX and prior-year energy fee.
Operating income $43M (6.1% margin); adjusted EBITDA $87M (12.4% margin).
Operating cash flow FYTD $127.5M (+85% YoY); free cash flow $97.7M (+107% YoY).
Reduced debt $54M in Q2 including $45M voluntary prepayment; net leverage 3.82x.
Fiscal 2024 guidance lowered as company navigates short-term challenges; CEO cites improving trends.

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 0.95

Vestis Corp updated its the quarter ended March 29, 2024 guidance (lowered).

Period: the quarter ended March 29, 2024
Guidance: lowered
Result: reported results

Exact text from the filing

On May 2, 2024 , Vestis Corporation (the “Company”) issued a press release announcing the results of the Company’s operations for the quarter ended March 29, 2024.

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Source: SEC EDGAR

accession 0001967649-24-000020

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