Vestis Q2 revenue $665M (-6% YoY), net loss $28M; credit covenant relaxed to 5.25x; new CEO Jim Barber

Vestis Corp

2025-Q2 EPS reported -$0.21 vs consensus $0.07 ▼ miss (-399.6%)

Revenue $665.2M, operating loss $8.6M, net loss $27.8M ($0.21 diluted loss).
Adjusted EBITDA $47.6M (incl. $15M bad debt); ex-bad debt $62.6M vs $87.2M prior year.
Credit amendment raises net leverage covenant to 5.25x through Q2 2026; restricts dividends and buybacks.
Jim Barber appointed President & CEO effective June 2, 2025; Phillip Holloman returns to Chairman.
Q3 revenue guidance $674-682M; Adjusted EBITDA at least $63M. No FY 2025 guidance given.

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