Unifirst Stock Price, News & Analysis

UniFirst Corporation reported Q1 fiscal 2022 results reflecting mixed performance. Consolidated revenues increased by 8.8% to $486.2 million. However, operating income fell 20.1% to $44.8 million, and net income decreased 19.6% to $33.7 million, leading to a 19.5% drop in diluted EPS to $1.77. The financial results included $5.9 million of costs linked to CRM, ERP, and branding initiatives. Adjusted EPS was $2.00. The company revised fiscal 2022 revenue guidance to $1.940 billion - $1.955 billion with diluted EPS between $5.50 and $5.80.

UniFirst Corporation (NYSE: UNF) is set to report its Fiscal 2022 first quarter results on January 5, 2022, before market opening. A conference call will follow at 9:00 a.m. ET, discussing financial outcomes, business highlights, and future outlook. The company may provide insights on earnings forecasts and other financial matters, possibly revealing undisclosed information. UniFirst is a leader in uniform and workwear services, operating 260 service locations and serving over 2 million workers daily.

UniFirst Corporation (NYSE: UNF) reported Q4 results with a revenue increase of 8.5% to $465.3 million and net income rising 9.7% to $34.6 million. For the full fiscal year, revenues reached $1.826 billion, a 1.2% rise, while net income increased 11.3% to $151.1 million.

The company approved a 20% dividend increase and announced a new $100 million share repurchase program. Fiscal 2022 guidance projects revenues between $1.920 billion and $1.945 billion, with diluted EPS between $5.70 and $6.10.

UniFirst Corporation (NYSE: UNF) has signed a three-year sponsorship deal with Kraft Sports + Entertainment to become the Official Uniform Supply Company of the New England Patriots. This partnership will enhance UniFirst's brand visibility through game day activations and media promotions. Additionally, newly branded delivery trucks will be showcased at home games, and nearly 200 delivery vehicles will promote the sponsorship across New England. With over 260 service locations, UniFirst outfits more than 2 million workers daily, being a leader in managed uniform services in North America.

UniFirst Corporation (NYSE: UNF) will announce its Fiscal 2021 fourth quarter results on October 20, 2021, prior to market opening. A conference call is scheduled for 9:00 a.m. Eastern Time on the same day to discuss the quarterly financial outcomes, business highlights, and future outlook. During the call, the company may address various business and financial developments, which could include undisclosed information. The live webcast and replay will be accessible online.

On September 22, 2021, UniFirst Corporation highlighted the significant benefits of uniform rental programs for businesses, particularly in the healthcare sector post-pandemic. These programs offer no upfront costs, scheduled laundry services, and repairs, enhancing employee hygiene and safety. Key advantages include improved business image, brand promotion, cost savings, and employee satisfaction. The shift towards managed uniform services is driven by heightened awareness of cross-contamination risks. Adam Soreff noted that such programs allow businesses to focus on core operations without uniform maintenance.

The No. 9 UniFirst Chevrolet Camaro ZL1 1LE, driven by NASCAR champion Chase Elliott, will race for the final time in the 2021 season on August 28 at Daytona International Speedway. As the primary sponsor, UniFirst continues its partnership with Hendrick Motorsports, showcasing a refreshed car design. Elliott currently ranks fifth in points, aiming for better standings before the playoffs. The race is significant for UniFirst as it marks the fifth year of collaboration with Hendrick Motorsports and the second year of sponsoring Elliott.