Vestis Corp SEC Filings

Vestis Corporation reported fiscal third quarter 2026 revenue of $661.7 million, down 1.8% year over year as pounds processed fell 4.5%, reflecting intentional exit of lower-margin volume. Pricing and mix improved, lifting Revenue Per Pound by 2.9%.

Net income was $11.0 million versus a $0.7 million loss a year ago, and Adjusted EBITDA rose to $80.9 million with a 12.2% margin, compared with 9.8% covenant-adjusted margin in the prior-year quarter. Operating Leverage per pound improved by $0.04, supported by lower cost of services and a 9% gain in plant productivity.

Free Cash Flow reached $47.0 million (Adjusted Free Cash Flow $55.5 million), a $39.0 million year-over-year improvement, and liquidity totaled $351.8 million, including $57.7 million of cash. Net leverage decreased to 4.10x. For fiscal 2026, Vestis raised its Free Cash Flow outlook to $160–$170 million and now expects Adjusted EBITDA of $310–$315 million, with revenue flat to down 2% versus normalized 2025.

Vestis Corp Chief Accounting Officer John Laveck reported a routine tax-withholding transaction related to equity compensation. On the vesting of restricted stock units, 4,059 shares of common stock were withheld at $14.52 per share to cover taxes, leaving him with 41,794 shares held directly.

Vestis Corporation updated the employment terms for Interim Chief Financial Officer Adam K. Bowen through a second amended and restated offer letter and employment agreement tied to his continued service in that role.

Mr. Bowen’s annual base salary remains $400,000 with a target bonus equal to 35% of base salary under the Management Incentive Bonus Plan. If his employment ends under specified conditions before or shortly after the end of fiscal 2026, he will receive either a pro‑rated or full fiscal 2026 bonus, payable by December 31, 2026. The company waived repayment of a prior $100,000 discretionary cash award from December 2025 and granted a new one‑time $100,000 cash award payable in June 2026, plus additional $100,000 awards for each three‑month period after June 1, 2026 in which no permanent Chief Financial Officer is in place and he remains employed, and a further $100,000 award if he stays through a defined transition date.

If he is terminated without cause before a permanent Chief Financial Officer is appointed, or resigns in a Qualifying Resignation, his unvested time‑based restricted stock units will continue to vest on their original schedule. Should he not be selected as permanent Chief Financial Officer, his role will revert to Vice President, Financial Planning & Analysis, reporting to the new Chief Financial Officer, while the revised economic terms generally remain in effect. His post‑termination payments are conditioned on ongoing compliance with restrictive covenants and are subject to the company’s clawback and recoupment policies.

Vestis Corp executive Steven E. Cochran, EVP & Chief Commercial Officer, reported an equity compensation award in the form of restricted stock units. He acquired 93,096 shares of common stock at a stated price of $0.00 per share as a grant, not an open‑market purchase. Following this award, his direct holdings total 93,096 shares. The restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date, creating a multi‑year incentive tied to continued service.

Vestis Corp executive Steven E. Cochran, who serves as EVP & Chief Commercial Officer, has filed an initial Form 3 as a reporting person for the company. The filing data provided shows no buy, sell, exercise, gift, tax-withholding, or restructuring share transactions reported at this time.

Vestis Corporation reported fiscal second quarter 2026 results showing stronger profitability and cash generation despite slightly lower revenue. Revenue was $659.4 million, down 0.9% from $665.2 million a year earlier as volumes in pounds processed fell 1.2%, while revenue per pound was flat.

Net income was $2.6 million, or $0.02 per diluted share, compared with a net loss of $27.8 million, helped by lower operating expenses. Adjusted EBITDA was $74.5 million with an 11.3% margin, up from a 9.4% Covenant Adjusted EBITDA margin a year earlier, reflecting cost-per-pound improvements from its transformation plan.

Free Cash Flow reached $45.6 million and Adjusted Free Cash Flow was $56.6 million, a $52.4 million year-over-year improvement in Free Cash Flow. The company repaid $34 million of debt in the quarter and ended with $344.5 million of liquidity, including $50.3 million of cash.

For fiscal 2026, Vestis raised its Adjusted EBITDA outlook to $295–$325 million and lifted its Free Cash Flow outlook to $120–$150 million, while still expecting revenue to be flat to down 2% versus normalized 2025. Management continues to target at least $75 million of annual cost savings from its transformation by the end of fiscal 2026.

Vestis Corp (Common Stock) Schedule 13G/A Amendment No. 3 reports that The Vanguard Group holds 0 shares and 0% beneficial ownership following an internal realignment. The filing states subsidiaries and business divisions will report disaggregated holdings in accordance with SEC Release No. 34-39538. The form is signed by Ashley Grim on 03/27/2026.

Vestis Corp interim CFO Adam Bowen reported a small share disposition related to taxes on vesting equity awards. On March 1, 2026, 490 shares of common stock were withheld at $7.87 per share to cover tax liabilities from restricted stock units vesting. After this tax-withholding transaction, Bowen directly owns 85,299 shares of Vestis common stock.