UniFirst (NYSE:UNF) shares fell over 3% intra-day today despite the company reporting third-quarter adjusted earnings that surpassed expectations and raising its full-year earnings outlook.
For the quarter, UniFirst posted adjusted EPS of $2.13, ahead of the $2.10 consensus. Revenue grew 1.2% year-over-year to $610.8 million, just below analyst estimates of $614.5 million. Net income rose 4.3% to $39.7 million from $38.1 million a year earlier.
By segment, Core Laundry Operations revenue increased 0.9% to $533.2 million, with organic growth of 1.1%. Specialty Garments revenue ticked up 0.5% to $47.8 million, while the First Aid segment led with robust 9.1% growth.
Encouraged by lower-than-expected costs for key initiatives—now forecast at about $7.5 million for fiscal 2025—UniFirst raised its full-year earnings guidance to a range of $7.60–$8.00 per share, up from prior projections. The company reaffirmed its revenue outlook of $2.422–$2.432 billion.
