UniFirst Earnings: Everything You Must Know Now
UniFirst Corp. (NYSE:UNF) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
UniFirst Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 38.54% to $1.33 in the quarter versus EPS of $0.96 in the year-earlier quarter.
Revenue: Rose 7.85% to $334.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: UniFirst Corp. reported adjusted EPS income of $1.33 per share. By that measure, the company beat the mean analyst estimate of $1.13. It beat the average revenue estimate of $328.59 million.
Quoting Management: Ronald D. Croatti, UniFirst President and Chief Executive Officer said, “Our excellent results for the first half of the year are due to strong execution in all facets of our operations. We are very pleased with these results, particularly as we have been faced with a challenging economic environment. Businesses remain hesitant to add new costs, including new employees who are potential wearers of our uniforms.”
Key Stats (on next page)…
Revenue increased 0.52% from $332.57 million in the previous quarter. EPS decreased 13.64% from $1.54 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.21 to a profit $1.25. For the current year, the average estimate has moved up from a profit of $4.82 to a profit of $5.22 over the last ninety days.
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