UniFirst Corp. (UNF) announced its financial results for the third quarter on Wednesday, elevating its earnings guidance for the entire fiscal year 2024 while keeping its annual revenue outlook steady.
For fiscal 2024, UniFirst now expects earnings to fall within the range of $7.17 to $7.49 per share, an increase from the prior guidance of $6.80 to $7.16 per share. The company maintains its revenue projections, anticipating figures between $2.415 billion and $2.425 billion.
Analyst consensus, as compiled by Thomson Reuters, forecasts earnings of $7.45 per share on revenues of $2.42 billion for the year, although these estimates usually exclude special items.
In the third quarter, UniFirst reported a net income of $38.06 million or $2.03 per share, a substantial rise from $24.28 million or $1.29 per share reported in the same quarter last year. Adjusted earnings, excluding special items, were $2.19 per share, up from $1.66 in the previous year.
The company's consolidated revenue for the quarter saw a 4.6 percent increase, reaching $603.33 million, compared to $576.67 million in the year-earlier period.
Wall Street had anticipated earnings of $1.86 per share on revenues of $601.29 million for the quarter.
