secwatch.observer — SEC 8-K summary
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Issuer:     Vestis Corp (VSTS)
CIK:        0001967649
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001967649-24-000039
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vestis Q3 rev $698M (-1.6% YoY), adj EBITDA $87M; enters $250M AR facility to cut debt
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- Revenue $698M, down 1.6% YoY; operating income $38M (5.4% of rev); adj EBITDA $87M (12.4% of rev)
- Operating cash flow YTD $176M (+22.4%); free cash flow YTD $125M (+22.6%)
- Net leverage 3.98x, net debt $1.53B at Q3 end; pro forma post-AR facility net leverage 3.33x, net debt $1.28B
- Entered $250M AR securitization facility on Aug 2, 2024, to repay term loans; scheduled term Aug 2, 2027
- Reiterated FY2024 outlook; adj EBITDA margin expected toward higher end of guidance range

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1967649/000196764924000039/0001967649-24-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1967649/000196764924000039/vsts-20240802.htm
  HTML page:      https://secwatch.observer/filing/0001967649-24-000039

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