secwatch.observer — SEC 8-K summary
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Issuer:     Vestis Corp (VSTS)
CIK:        0001967649
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001967649-24-000020
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1967649/000196764924000020/0001967649-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1967649/000196764924000020/vsts-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001967649-24-000020

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