Unifirst Corporation Reiterates FY24 Outlook: Sees Revenues Of $2.415B-$2.425B, Projects EPS Of $7.17-$7.49

6/26/24 8:10:39 AM ET

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The outlook for fiscal 2024 includes one extra week of operations compared to fiscal 2023 due to the timing of our fiscal quarter, and assumes:

Core Laundry Operations' organic growth at the midpoint of the range of 4.5%.
Core Laundry Operations' operating and EBITDA margins at the midpoint of the range of 6.6% and 12.7%, respectively.
An estimate of $12.0 million of costs directly attributable to our Key Initiatives that will be expensed in fiscal 2024 and will decrease both the Core Laundry Operations' operating and EBITDA margins by 0.6%.
An effective tax rate of 24.5%.
No impact from any future share buybacks or unexpected significantly adverse economic developments.

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Recent Analyst Ratings for
$UNF

Date	Price Target	Rating	Analyst
1/4/2024	$185.00	Outperform → Neutral	Robert W. Baird
10/6/2023	$160.00	Equal Weight	Barclays
6/1/2023	$185.00	Neutral	UBS
4/1/2022	$178.00	Neutral → Underweight	JP Morgan
1/6/2022	$215.00 → $236.00	Neutral → Outperform	Baird
1/6/2022	$215.00 → $236.00	Neutral → Outperform	Robert W. Baird

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Leadership Updates

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UniFirst Corporation Announces Leadership Changes: Kelly Rooney Named Chief Operating Officer and Michael Croatti to Transition from Executive Role
WILMINGTON, Mass., Sept. 19, 2024 (GLOBE NEWSWIRE) -- UniFirst Corporation (NYSE:UNF), a North American leader in the supply and servicing of uniform and workwear programs, facility service products, and first aid and safety supplies, is pleased to announce the appointment of Kelly Rooney as Chief Operating Officer (COO), effective September 30, 2024. Rooney has extensive knowledge and experience in large-scale B2B route-based operations. Over her twenty-five plus year career, she has held operational and leadership roles of increasing responsibility. Her most recent position was as the Chief Human Resources Officer at Waste Management, a $20 billion public company. Rooney is returning to
9/19/24 2:00:08 PM ET
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UniFirst named one of Selling Power's 'Best Companies to Sell For' in 2024
WILMINGTON, Mass., July 12, 2024 /PRNewswire/ -- UniFirst Corporation (NYSE:UNF), a North American leader in providing customized business uniform programs, facility service products and first aid and safety services, is proud to be recognized on Selling Power's "Best Companies to Sell For" list for the 21st consecutive year. The list features 60 companies that lead the charge in true selling power. "We're proud to be included on Selling Power's list, which further validates our world-class sales organization and people who always deliver solutions that meet the unique needs o
7/12/24 6:58:00 AM ET
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UniFirst Declares Regular Cash Dividends
WILMINGTON, Mass., Jan. 12, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of UniFirst Corporation (NYSE:UNF) today declared regular quarterly cash dividends of $0.25 per share (25.0 cents) on the Company's Common Stock and $0.20 per share (20.0 cents) on the Company's Class B Common Stock. Both dividends are payable on March 30, 2021, to shareholders of record on March 9, 2021. Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, as well as the delivery of facility service programs. Together with its subsidiaries, the company also provides first aid and safety products, and manages
1/12/21 1:52:25 PM ET
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Unifirst Declares Increased Cash Dividends
WILMINGTON, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Wilmington, MA (October 29, 2024) -- The Board of Directors of UniFirst Corporation (NYSE:UNF) today declared increased quarterly cash dividends of $0.350 per share (35.0 cents) on the Company's Common Stock and $0.280 per share (28.0 cents) on the Company's Class B Common Stock. Both dividends are payable on January 3, 2025 to shareholders of record on December 6, 2024. Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE:UNF) is a North American leader in the supply and servicing of uniform and workwear programs, facility service products, as well as first aid and safety supplies and services. Together with its subsidiaries,
10/29/24 3:54:46 PM ET
$UNF
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Unifirst Announces Financial Results for the Fourth Quarter and Full Fiscal Year of Fiscal 2024
WILMINGTON, Mass., Oct. 23, 2024 (GLOBE NEWSWIRE) -- UniFirst Corporation (NYSE:UNF) (the "Company," "UniFirst" or "we") today reported results for its fourth quarter and full year ended August 31, 2024, as compared to the corresponding periods in the prior fiscal year. The fourth quarter as well as the full year included an extra week compared to the prior year. Q4 2024 Financial Highlights Consolidated revenues for the fourth quarter increased 11.9% to $639.9 million.The extra week accounted for revenue growth of approximately 8.0% in the quarter.Operating income was $54.0 million, an increase of 49.8%.The quarterly tax rate decreased to 21.8% compared to 24.3% in the prior year.Net in
10/23/24 8:00:45 AM ET
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UniFirst No. 9 Chevrolet takes final laps of the 2024 season at the NASCAR Cup Series playoff race in Charlotte
WILMINGTON, Mass., Oct. 8, 2024 /PRNewswire/ -- UniFirst Corporation (NYSE:UNF), a North American leader in providing customized business uniform programs, facility service products and first aid and safety services, in partnership with 14-time NASCAR Cup Series champions Hendrick Motorsports, will be at the Charlotte Motor Speedway ROVAL on Sunday, October 13 as Chase Elliott continues his playoff run behind the wheel of the UniFirst No. 9 Chevrolet Camaro ZL1. The race begins at 2 p.m. ET on NBC. Elliott heads into Charlotte in eighth in the playoff standings, 13 markers abo
10/8/24 10:00:00 AM ET
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Financials

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Unifirst Declares Increased Cash Dividends
WILMINGTON, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Wilmington, MA (October 29, 2024) -- The Board of Directors of UniFirst Corporation (NYSE:UNF) today declared increased quarterly cash dividends of $0.350 per share (35.0 cents) on the Company's Common Stock and $0.280 per share (28.0 cents) on the Company's Class B Common Stock. Both dividends are payable on January 3, 2025 to shareholders of record on December 6, 2024. Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE:UNF) is a North American leader in the supply and servicing of uniform and workwear programs, facility service products, as well as first aid and safety supplies and services. Together with its subsidiaries,
10/29/24 3:54:46 PM ET
$UNF
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Unifirst Announces Financial Results for the Fourth Quarter and Full Fiscal Year of Fiscal 2024
WILMINGTON, Mass., Oct. 23, 2024 (GLOBE NEWSWIRE) -- UniFirst Corporation (NYSE:UNF) (the "Company," "UniFirst" or "we") today reported results for its fourth quarter and full year ended August 31, 2024, as compared to the corresponding periods in the prior fiscal year. The fourth quarter as well as the full year included an extra week compared to the prior year. Q4 2024 Financial Highlights Consolidated revenues for the fourth quarter increased 11.9% to $639.9 million.The extra week accounted for revenue growth of approximately 8.0% in the quarter.Operating income was $54.0 million, an increase of 49.8%.The quarterly tax rate decreased to 21.8% compared to 24.3% in the prior year.Net in
10/23/24 8:00:45 AM ET
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UniFirst Corporation Plans to Announce Fourth Quarter Results on October 23, 2024
WILMINGTON, Mass., Sept. 18, 2024 (GLOBE NEWSWIRE) -- UniFirst Corporation (NYSE:UNF) will report its Fiscal 2024 fourth quarter results on October 23, 2024 before the market opens. The Company will also hold a conference call at 9:00 a.m. Eastern Time on October 23, 2024 to discuss its quarterly financial results, business highlights and outlook. In addition, the Company may answer one or more questions concerning business and financial developments and trends, the Company's view on earnings forecasts and other business and financial matters affecting the Company, some of the responses to which may contain information that has not been previously disclosed. A simultaneous live webcast of
9/18/24 1:27:30 PM ET
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Unifirst Corporation Reiterates FY24 Outlook: Sees Revenues Of $2.415B-$2.425B, Projects EPS Of $7.17-$7.49

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Recent Analyst Ratings for $UNF

$UNF Leadership Updates

Live Leadership Updates

UniFirst Corporation Announces Leadership Changes: Kelly Rooney Named Chief Operating Officer and Michael Croatti to Transition from Executive Role

UniFirst named one of Selling Power's 'Best Companies to Sell For' in 2024

UniFirst Declares Regular Cash Dividends

$UNF Press Releases

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Unifirst Declares Increased Cash Dividends

Unifirst Announces Financial Results for the Fourth Quarter and Full Fiscal Year of Fiscal 2024

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$UNF Analyst Ratings

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UniFirst downgraded by Robert W. Baird with a new price target

Barclays initiated coverage on UniFirst with a new price target

UBS initiated coverage on UniFirst with a new price target

$UNF SEC Filings

SEC Form 10-K filed by Unifirst Corporation

SEC Form NT 10-K filed by Unifirst Corporation

Unifirst Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

$UNF Insider Trading

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Large owner The Ronald D Croatti Trust - 1993 converted options into 31,860 shares and sold $6,166,929 worth of shares (31,860 units at $193.56) (SEC Form 4)

Executive VP and CFO O'Connor Shane was granted 3,062 shares and covered exercise/tax liability with 364 shares, increasing direct ownership by 49% to 8,226 units (SEC Form 4)

Executive VP and COO Rooney Kelly C. was granted 3,112 shares, increasing direct ownership by 54% to 8,902 units (SEC Form 4)

$UNF Market Insights

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UBS Maintains Neutral on UniFirst, Raises Price Target to $190

JP Morgan Maintains Underweight on UniFirst, Raises Price Target to $175

Baird Maintains Neutral on UniFirst, Raises Price Target to $199

$UNF Financials

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Unifirst Declares Increased Cash Dividends

Unifirst Announces Financial Results for the Fourth Quarter and Full Fiscal Year of Fiscal 2024

UniFirst Corporation Plans to Announce Fourth Quarter Results on October 23, 2024

$UNF Large Ownership Changes

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SEC Form SC 13G/A filed by Unifirst Corporation (Amendment)

SEC Form SC 13G/A filed by Unifirst Corporation (Amendment)

SEC Form SC 13G/A filed by Unifirst Corporation (Amendment)

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