Latest news with #UniFirstCorporation
Cision Canada
12-08-2025
- Automotive
- Cision Canada
UniFirst No. 9 Chevrolet Gears Up for Exciting Night Race at Richmond Raceway on August 16
WILMINGTON, Mass., Aug. 12, 2025 /CNW/ -- UniFirst Corporation (NYSE:UNF), a North American leader in providing customized business uniform programs, facility service products and first aid and safety services, is excited to announce the return of the UniFirst No. 9 Chevrolet driven by Chase Elliott to the NASCAR Cup Series. Elliott and the No. 9 Hendrick Motorsports team will roll into Richmond Raceway for a thrilling Saturday night showdown on August 16 at 7:30 PM ET. Sporting its bold green and gray design with the iconic "U-Mark," the UniFirst No. 9 stands out on the track and reflects UniFirst's dedication to performance and service. This Richmond event is a highlight of the 2025 season and part of the company's decade-long partnership with Hendrick Motorsports. "We couldn't be more excited to see the UniFirst No. 9 back in Richmond, with Chase Elliott behind the wheel," said David Katz, Executive Vice President of Sales and Marketing at UniFirst. "There's nothing quite like the electrifying energy of a night race, surrounded by the passion of NASCAR's most dedicated fans. We're rooting for Chase to take the checkered flag in the UniFirst No. 9 and keep dominating at the front of the pack!" The Richmond race marks one of the final appearances for the UniFirst No. 9 Chevrolet in the 2025 NASCAR Cup Series season. Fans can also look ahead to the final appearance of the UniFirst No. 9 on October 5 at the Charlotte Motor Speedway ROVAL. "I always love the atmosphere of a night race, so I think it's great that NASCAR brought back a Saturday night event at Richmond," said Elliott. "The excitement of the fans, the lights, everything is just amplified. Hopefully we can put on a good show for everyone and get the UniFirst Chevy to victory lane." This year marks UniFirst's sixth season as a proud sponsor of Chase Elliott and the No. 9 team. As the Official Workwear Provider for Hendrick Motorsports, UniFirst supplies high-quality uniforms and workwear to the team and its sister company, Hendrick Automotive Group. For more information on UniFirst, visit About UniFirst Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, facility service products, as well as first aid and safety supplies and services. Together with its subsidiaries, the company also manages specialized garment programs for the cleanroom and nuclear industries. In addition to partnering with leading brands, UniFirst manufactures its own branded workwear, protective clothing, and floorcare products at its three company-owned ISO-9001-certified manufacturing facilities. With more than 270 service locations, over 300,000 customer locations, and 16,000-plus employee Team Partners, the company outfits more than 2 million workers every day. For additional information, contact UniFirst at 888.296.2740 or visit Follow UniFirst on Social Media: LinkedIn, Facebook, X, YouTube, Instagram. About Hendrick Motorsports: Founded by Rick Hendrick in 1984, Hendrick Motorsports is the winningest team in NASCAR Cup Series history. At the sport's premier level, the organization holds the all-time records in every major statistical category, including championships (14), points-paying race victories (318) and laps led (more than 84,000). It has earned at least one race win in a record 41 different seasons, including an active streak of 40 in a row (1986-2025). The team fields four full-time Chevrolet entries in the NASCAR Cup Series with drivers Alex Bowman, William Byron, Chase Elliott and Kyle Larson. Headquartered on more than 150 acres in Concord, North Carolina, Hendrick Motorsports employs approximately 600 people. For more information, please visit or interact on Facebook, Instagram, TikTok and X.
Cision Canada
23-07-2025
- Business
- Cision Canada
UniFirst honors Aldo Croatti's legacy through a people-first lens at 24th annual Founder's Day
WILMINGTON, Mass., July 23, 2025 /CNW/ -- UniFirst Corporation (NYSE:UNF), a North American leader in providing customized business uniform programs, facility service products and first aid and safety services, recently celebrated its 24th annual Founder's Day with a livestreamed leadership panel discussion on the Company's founding Core Values — Customer Focus, Commitment to Quality, and Respect for Others — inspiring its people-first strategy. Moderated by Catalina Dongo, Senior Vice President of Human Resources, and livestreamed across the Company's more than 270 locations across North, Central, and South America, the panel featured top executives — Steven Sintros, President and CEO; Kelly Rooney, Chief Operating Officer; Cynthia Croatti, Advisor, Board of Directors Member, and the daughter of UniFirst Founder Aldo Croatti; and David Katz, Executive Vice President of Sales & Marketing. Together, they discussed how the Core Values established by Mr. Croatti remain central to UniFirst's ongoing success and growth. This year's event also introduced the Cynthia Croatti Leadership Award, a new recognition designed to honor leaders who lead with vision, passion, and purpose. It is fitting that the inaugural recipient is Ms. Croatti herself, whose guidance over the past 4 decades has been instrumental in UniFirst's success and whose dedication to fostering a people-first culture has inspired Team Partners at every level. "Great leaders deserve special recognition," said Dongo during Founder's Day. "Cindy embodies everything this award represents. She leads with heart, empowers others, and uplifts everyone around her. Cindy is the heart and soul of UniFirst, and we're excited to celebrate her as the first recipient of this award." Ms. Croatti expressed her gratitude in a heartfelt response, saying, "This recognition is deeply meaningful to me because it embodies the values my father, Aldo Croatti, built this company on. My father always said, 'You're only as good as your people.' I see that truth reflected every day in the dedication and passion of our Team Partners. I'm incredibly honored, but more than anything, I'm grateful to carry forward my father's vision and to help shape a future where our Core Values continue to guide us all." Founder's Day also celebrated the exemplary contributions of UniFirst Team Partners through the annual Employee of the Year (EOY) recognition. Each location honored outstanding Team Partners who uphold the company's values and demonstrate extraordinary commitment to excellence. EOY recipients received a commemorative plaque, a thoughtful gift, and a bonus paid day off. Their names will be displayed at their respective locations in recognition of their achievement. "What distinguishes UniFirst from our competition is our people and the culture we've built together," said Steven Sintros, UniFirst President and CEO. "Congratulations to all our Employees of the Year for their outstanding contributions. I'm proud of the way our people always deliver for our customers, our company, and for each other." UniFirst also revealed the recipients of its higher-education scholarships, including the Aldo Croatti Scholarship and the Ronald D. Croatti Scholarship programs. The Aldo Croatti Scholarship, established to honor its namesake, supports the children of UniFirst Team Partners in achieving their academic aspirations. The Ronald D. Croatti Scholarship, named after the company's longtime president and CEO who passed away in 2017, provides financial assistance to full-time UniFirst Team Partners pursuing undergraduate or graduate education in areas such as information technology (IT), sales leadership, or business administration. Both programs reflect the company's continued dedication to investing in its people. For more information about UniFirst, please visit About UniFirst Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, facility service products, as well as first aid and safety supplies and services. Together with its subsidiaries, the company also manages specialized garment programs for the cleanroom and nuclear industries. In addition to partnering with leading brands, UniFirst manufactures its own branded workwear, protective clothing, and floorcare products at its three company-owned ISO-9001-certified manufacturing facilities. With more than 270 service locations, over 300,000 customer locations, and 16,000-plus employee Team Partners, the company outfits more than 2 million workers every day. For additional information, contact UniFirst at 888.296.2740 or visit Follow UniFirst on Social Media: LinkedIn, Facebook, X, YouTube, Instagram.
Cision Canada
11-07-2025
- Business
- Cision Canada
UniFirst Recognized Among '60 Best Companies to Sell For' in 2025
WILMINGTON, Mass., July 11, 2025 /CNW/ -- UniFirst Corporation (NYSE:UNF), a North American leader in providing customized business uniform programs, facility service products and first aid and safety services, is proud to announce its inclusion on Selling Power's prestigious list of the "60 Best Companies to Sell For in 2025." This achievement marks an impressive 22 consecutive years of recognition for UniFirst. UniFirst continues to earn this distinction by fostering a sales culture grounded in its Founding Core Values of Customer Focus, Commitment to Quality, and Respect for Others. Dedicated to delivering customized uniforms and facility service solutions, UniFirst's sales teams serve as trusted advisors, empowered to gain a deep understanding of each customer's business and industry. This approach enables them to develop innovative strategies that address unique challenges and deliver measurable results. "We're honored to celebrate 22 years on Selling Power's list, reinforcing our commitment to supporting our sales teams with award-winning tools and training, along with the resources they need to serve as trusted advisors to our customers," said David Katz, UniFirst Executive Vice President. "Our approach is rooted in empowering our teams to understand our customers' businesses inside and out, creating meaningful partnerships and delivering solutions that drive success." Selling Power's annual list recognizes companies that excel in creating a supportive and collaborative sales culture. Organizations of all sizes are evaluated across several key areas, including: Company Overview Culture Compensation and Benefits Hiring, Sales Training & Sales Enablement Integration of AI to enhance sales processes and support teams "In evaluating the best companies to sell for each year, we look for organizations like UniFirst that align core values throughout their operations," said Gerhard Gschwendtner, founder and CEO of Selling Power. "UniFirst's success stems from building a sales culture built on professionalism, trust, and empowerment, driving both growth and long-term success." For more than two decades, UniFirst has been recognized as a leader in sales and customer engagement. The company serves over two million uniform wearers across North America, including more than half of the Fortune 500 companies, by delivering high-quality uniforms and comprehensive facility service solutions. UniFirst is actively recruiting talented individuals to join its award-winning sales team. For more information, visit About UniFirst Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, facility service products, as well as first aid and safety supplies and services. Together with its subsidiaries, the company also manages specialized garment programs for the cleanroom and nuclear industries. In addition to partnering with leading brands, UniFirst manufactures its own branded workwear, protective clothing, and floorcare products at its three company-owned ISO-9001-certified manufacturing facilities. With more than 270 service locations, over 300,000 customer locations, and 16,000-plus employee Team Partners, the company outfits more than 2 million workers every day. For additional information, contact UniFirst at 888.296.2740 or visit Follow UniFirst on Social Media: LinkedIn, Facebook, X, YouTube, Instagram.
Yahoo
02-07-2025
- Business
- Yahoo
UniFirst Announces Financial Results for the Third Quarter of Fiscal 2025
WILMINGTON, Mass., July 02, 2025 (GLOBE NEWSWIRE) -- UniFirst Corporation (NYSE: UNF) (the 'Company,' 'UniFirst' or 'we') today reported results for its third quarter ended May 31, 2025 as compared to the corresponding period in the prior fiscal year: Q3 2025 Financial Highlights Consolidated revenues for the third quarter increased 1.2% to $610.8 million. Operating income was $48.2 million, a decrease of 0.6%. The quarterly tax rate increased to 25.7% compared to 22.9% in the prior year. Net income increased to $39.7 million from $38.1 million in the prior year, or 4.3%. Diluted earnings per share increased to $2.13 from $2.03 in the prior year, or 4.9%. Adjusted EBITDA increased to $85.8 million compared to $84.8 million in the prior year, or 1.2%. The Company's financial results for the third quarter of fiscal 2025 and 2024 included approximately $1.0 million and $3.9 million, respectively, of costs directly attributable to its customer relationship management ('CRM') computer system and enterprise resource planning ('ERP') projects. The Company refers to the CRM and ERP projects together as its 'Key Initiatives'. The effect of these items on the third quarter of fiscal 2025 and 2024 combined to decrease: Operating income and Adjusted EBITDA by $1.0 million and $3.9 million, respectively. Net income by $0.7 million and $2.9 million, respectively. Diluted earnings per share by $0.04 and $0.16, respectively. Net income and diluted earnings per share also benefited from a $2.8 million gain on the sale of a non-operating property during the quarter. This gain was recorded to other (income) expense, net, but was excluded from Adjusted EBITDA. Steven Sintros, UniFirst President and Chief Executive Officer, said, 'The results for our third quarter were largely in line with our expectations. It is rewarding to see our recent investments beginning to yield measurable returns, evidenced by gross margin improvement and more effective execution across the business. I want to sincerely thank all of our Team Partners who continue to Always Deliver for each other and our customers as we strive towards our vision of being universally recognized as the best service provider in the industry. …all while living our mission of' Segment Reporting Highlights Core Laundry Operations Revenues for the quarter increased 0.9% to $533.2 million. Organic growth, which excludes the effect of acquisitions and fluctuations in the Canadian dollar, was 1.1%. Operating margin decreased to 6.9% from 7.0%. Adjusted Core Laundry Operations' EBITDA margin was unchanged at 13.5%. The costs we incurred related to the Key Initiatives were recorded to the Core Laundry Operations' segment, and decreased both the Core Laundry Operations' operating and Adjusted EBITDA margins for the third quarters of fiscal 2025 and 2024 by 0.2% and 0.7%, respectively. The segment's operating and Adjusted EBITDA margins in the third quarter of fiscal 2025 were relatively consistent with the third quarter of the prior fiscal year. Both margin comparisons to the prior year continued to benefit from lower merchandise and production costs as a percentage of revenue but were offset by higher healthcare claims expense and approximately $5.7 million of expense related to advisory costs for a strategic matter and legal costs related to an employee matter in the third quarter of fiscal 2025. Balance Sheet and Capital Allocation Cash, cash equivalents and short-term investments totaled $211.9 million as of May 31, 2025. Cash flows from operating activities were $196.5 million in the first nine months of fiscal 2025. The Company repurchased $13.6 million of shares of Common Stock in the third quarter of fiscal 2025 and as of May 31, 2025 had $86.4 million remaining under its existing share repurchase authorization. Financial Outlook Mr. Sintros continued, 'We are currently maintaining our annual revenue guidance within the range of $2.422 billion to $2.432 billion. However, we are raising our diluted earnings per share guidance to a range of $7.60 to $8.00. This adjustment reflects an updated assumption that our Key Initiative costs in fiscal 2025 will be approximately $7.5 million, revised from our previous estimate." Please remember that fiscal year 2025 will consist of one less week of operations compared to fiscal year 2024, which included an additional week in its fourth fiscal quarter. Also, the guidance does not assume future share buybacks or unforeseen economic events. Conference Call Information UniFirst Corporation will hold a conference call today at 9:00 a.m. (ET) to discuss its quarterly financial results, business highlights and outlook. A simultaneous live webcast of the call will be available over the Internet and can be accessed at About UniFirst Corporation Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, facility service products, as well as first aid and safety supplies and services. Together with its subsidiaries, the Company also manages specialized garment programs for the cleanroom and nuclear industries. In addition to partnering with leading brands, UniFirst manufactures its own branded workwear, protective clothing, and floorcare products at its five company-owned ISO-9001-certified manufacturing facilities. With more than 270 service locations, over 300,000 customer locations, and 16,000-plus employee Team Partners, the Company outfits more than 2 million workers every day. For more information, contact UniFirst at 888.296.2740 or visit Forward-Looking Statements Disclosure This public announcement contains forward-looking statements within the meaning of the federal securities laws that reflect the Company's current views with respect to future events and financial performance, including projected revenues, operating margin and earnings per share. Forward-looking statements contained in this public announcement are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995 and may be identified by words such as 'guidance,' 'outlook,' 'estimates,' 'anticipates,' 'projects,' 'plans,' 'expects,' 'intends,' 'believes,' 'seeks,' 'could,' 'should,' 'may,' 'will,' 'strategy,' 'objective,' 'assume,' 'strive,' 'design,' 'assumption,' 'vision,' 'approximate,' or the negative versions thereof, and similar expressions and by the context in which they are used. Such forward-looking statements are based upon our current expectations and speak only as of the date made. Such statements are highly dependent upon a variety of risks, uncertainties and other important factors that could cause actual results to differ materially from those reflected in such forward-looking statements. Such factors include, but are not limited to, uncertainties caused by an economic recession or other adverse economic conditions, including, without limitation, as a result of elevated inflation or interest rates or extraordinary events or circumstances such as geopolitical conflicts like the conflict between Russia and Ukraine and disruption in the Middle East, and their impact on our customers' businesses and workforce levels, disruptions of our business and operations, including limitations on, or closures of, our facilities, or the business and operations of our customers or suppliers in connection with extraordinary events or circumstances uncertainties regarding our ability to consummate acquisitions and successfully integrate acquired businesses, and the performance of such businesses, uncertainties regarding any existing or newly-discovered expenses and liabilities related to environmental compliance and remediation, any adverse outcome of pending or future contingencies or claims, our ability to compete successfully without any significant degradation in our margin rates, seasonal and quarterly fluctuations in business levels, our ability to preserve positive labor relationships and avoid becoming the target of corporate labor unionization campaigns that could disrupt our business, the effect of currency fluctuations on our results of operations and financial condition, our dependence on third parties to supply us with raw materials, which such supply could be severely disrupted as a result of extraordinary events or circumstances such as the conflict between Russia and Ukraine, any loss of key management or other personnel, increased costs as a result of any changes in federal, state, international or other laws, rules and regulations or governmental interpretation of such laws, rules and regulations, uncertainties regarding, or adverse impacts from continued high price levels of natural gas, electricity, fuel and labor or increases in such costs, the negative effect on our business from sharply depressed oil and natural gas prices, the continuing increase in domestic healthcare costs, increased workers' compensation claim costs, increased healthcare claim costs, our ability to retain and grow our customer base, demand and prices for our products and services, fluctuations in our Specialty Garments business, political or other instability, supply chain disruption or infection among our employees in Mexico and Nicaragua where our principal garment manufacturing plants are located, our ability to properly and efficiently design, construct, implement and operate a new enterprise resource planning computer system, interruptions or failures of our information technology systems, including as a result of cyber-attacks, additional professional and internal costs necessary for compliance with any changes in or additional Securities and Exchange Commission (the 'SEC'), New York Stock Exchange and accounting or other rules, strikes and unemployment levels, our efforts to evaluate and potentially reduce internal costs, the impact of foreign trade policies and tariffs or other impositions on imported goods on our business, results of operations and financial condition, our ability to successfully implement our business strategies and processes, including our capital allocation strategies, our ability to successfully remediate the material weaknesses in internal control over financial reporting disclosed in our Annual Report on Form 10-K for the year ended August 31, 2024 and the other factors described under Part I, Item 1A. 'Risk Factors' and elsewhere in our Annual Report on Form 10-K for the year ended August 31, 2024, Part II, Item 1A. 'Risk Factors' and elsewhere in our subsequent Quarterly Reports on Form 10-Q and in our other filings with the SEC. We undertake no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made. Consolidated Statements of Income Thirteen Weeks Ended Thirty-Nine Weeks Ended (In thousands, except per share data) May 31, 2025 May 25, 2024 May 31, 2025 May 25, 2024 Revenues $ 610,778 $ 603,328 $ 1,817,905 $ 1,787,564 Operating expenses: Cost of revenues (1) 385,189 391,244 1,160,388 1,171,231 Selling and administrative expenses (1) 142,690 129,074 418,119 383,350 Depreciation and amortization 34,722 34,560 104,476 103,453 Total operating expenses 562,601 554,878 1,682,983 1,658,034 Operating income 48,177 48,450 134,922 129,530 Other (income) expense: Interest income, net (2,514 ) (1,406 ) (7,422 ) (4,590 ) Other (income) expense, net (2,704 ) 522 (1,620 ) 1,813 Total other income, net (5,218 ) (884 ) (9,042 ) (2,777 ) Income before income taxes 53,395 49,334 143,964 132,307 Provision for income taxes 13,715 11,277 36,720 31,468 Net income $ 39,680 $ 38,057 $ 107,244 $ 100,839 Income per share – Basic: Common Stock $ 2.22 $ 2.12 $ 6.01 $ 5.61 Class B Common Stock $ 1.78 $ 1.70 $ 4.80 $ 4.49 Income per share – Diluted: Common Stock $ 2.13 $ 2.03 $ 5.76 $ 5.38 Income allocated to – Basic: Common Stock $ 33,346 $ 31,962 $ 90,126 $ 84,716 Class B Common Stock $ 6,334 $ 6,095 $ 17,118 $ 16,123 Income allocated to – Diluted: Common Stock $ 39,680 $ 38,057 $ 107,244 $ 100,839 Weighted average shares outstanding – Basic: Common Stock 14,990 15,062 15,007 15,094 Class B Common Stock 3,557 3,590 3,563 3,590 Weighted average shares outstanding – Diluted: Common Stock 18,607 18,705 18,633 18,738 (1) Exclusive of depreciation on the Company's property, plant and equipment and amortization on its intangible Consolidated Balance Sheets (In thousands) May 31, 2025 August 31, 2024 Assets Current assets: Cash and cash equivalents $ 211,910 $ 161,571 Short-term investments — 13,505 Receivables, net 281,815 278,851 Inventories 148,847 156,908 Rental merchandise in service 227,580 237,969 Prepaid taxes 12,133 14,893 Prepaid expenses and other current assets 55,589 51,979 Total current assets 937,874 915,676 Property, plant and equipment, net 817,931 801,612 Goodwill 653,300 648,850 Customer contracts and other intangible assets, net 107,282 119,999 Deferred income taxes 851 833 Operating lease right-of-use assets, net 72,461 66,682 Other assets 170,328 142,761 Total assets $ 2,760,027 $ 2,696,413 Liabilities and shareholders' equity Current liabilities: Accounts payable $ 76,395 $ 92,509 Accrued liabilities 172,719 170,240 Accrued taxes — 447 Operating lease liabilities, current 17,835 18,241 Total current liabilities 266,949 281,437 Long-term liabilities: Accrued liabilities 124,366 123,401 Accrued and deferred income taxes 137,029 132,496 Operating lease liabilities 56,892 50,568 Total liabilities 585,236 587,902 Shareholders' equity: Common Stock 1,494 1,500 Class B Common Stock 355 359 Capital surplus 108,486 104,791 Retained earnings 2,088,873 2,025,505 Accumulated other comprehensive loss (24,417 ) (23,644 ) Total shareholders' equity 2,174,791 2,108,511 Total liabilities and shareholders' equity $ 2,760,027 $ 2,696,413 Detail of Operating Results Thirteen Weeks Ended May 31, 2025 Thirteen Weeks Ended May 25, 2024 Core Laundry Specialty First Core Laundry Specialty First (In thousands, except percentages) Operations Garments Aid Total Operations Garments Aid Total Revenues $ 533,188 $ 47,803 $ 29,787 $ 610,778 $ 528,454 $ 47,582 $ 27,292 $ 603,328 Revenue Growth % 0.9 % 0.5 % 9.1 % 1.2 % Operating Income (1), (2) $ 36,737 $ 10,915 $ 525 $ 48,177 $ 36,929 $ 11,373 $ 148 $ 48,450 Operating Margin 6.9 % 22.8 % 1.8 % 7.9 % 7.0 % 23.9 % 0.5 % 8.0 % Adjusted EBITDA (1), (2) $ 71,894 $ 12,402 $ 1,530 $ 85,826 $ 71,257 $ 12,552 $ 982 $ 84,791 Adjusted EBITDA Margin 13.5 % 25.9 % 5.1 % 14.1 % 13.5 % 26.4 % 3.6 % 14.1 % (1) The Company's financial results for the third quarter of fiscal 2025 and 2024 included approximately $1.0 million and $3.9 million, respectively, of costs directly attributable to its Key Initiatives.(2) The Key Initiatives' costs decreased both Core Laundry Operations' operating margin and Adjusted EBITDA margin for the third quarter of fiscal 2025 and 2024 by 0.2% and 0.7%, respectively. Thirty-Nine Weeks Ended May 31, 2025 Thirty-Nine Weeks Ended May 25, 2024 Core Laundry Specialty First Core Laundry Specialty First (In thousands, except percentages) Operations Garments Aid Total Operations Garments Aid Total Revenues $ 1,596,282 $ 138,160 $ 83,463 $ 1,817,905 $ 1,574,863 $ 135,713 $ 76,988 $ 1,787,564 Revenue Growth % 1.4 % 1.8 % 8.4 % 1.7 % Operating Income (Loss) (3), (4) $ 104,027 $ 30,515 $ 380 $ 134,922 $ 98,066 $ 33,391 $ (1,927 ) $ 129,530 Operating Margin 6.5 % 22.1 % 0.5 % 7.4 % 6.2 % 24.6 % -2.5 % 7.2 % Adjusted EBITDA (3), (4) $ 210,312 $ 35,119 $ 3,273 $ 248,704 $ 200,657 $ 36,983 $ 675 $ 238,315 Adjusted EBITDA Margin 13.2 % 25.4 % 3.9 % 13.7 % 12.7 % 27.3 % 0.9 % 13.3 % (3) The Company's financial results for the first nine months of fiscal 2025 and 2024 included approximately $5.4 million and $10.0 million, respectively, of costs directly attributable to its Key Initiatives.(4) The Key Initiatives' costs decreased both Core Laundry Operations' operating margin and Adjusted EBITDA margin for the third quarter of fiscal 2025 and 2024 by 0.3% and 0.6%, Statements of Cash Flows(Unaudited) (In thousands) May 31, 2025 May 25, 2024 Cash flows from operating activities: Net income $ 107,244 $ 100,839 Adjustments to reconcile net income to cash provided by operating activities: Depreciation and amortization (1) 104,476 103,453 Share-based compensation 9,049 7,145 Accretion on environmental contingencies 960 948 Accretion on asset retirement obligations 602 721 Deferred income taxes 3,514 4,048 Gain on sale of property and equipment (2,690 ) — Other 336 1,061 Changes in assets and liabilities, net of acquisitions: Receivables, less reserves (3,174 ) (5,288 ) Inventories 8,338 (13,101 ) Rental merchandise in service 10,018 5,308 Prepaid expenses and other current assets and Other assets (16,729 ) (11,518 ) Accounts payable (16,668 ) (5,118 ) Accrued liabilities (12,190 ) (3,212 ) Prepaid and accrued income taxes 3,395 7,726 Net cash provided by operating activities 196,481 193,012 Cash flows from investing activities: Acquisition of businesses, net of cash acquired (5,374 ) (203 ) Capital expenditures, including capitalization of software costs (109,823 ) (121,937 ) Purchases of investments (14,734 ) (24,581 ) Maturities of investments 28,356 21,679 Proceeds from sale of assets 3,115 749 Net cash used in investing activities (98,460 ) (124,293 ) Cash flows from financing activities: Proceeds from exercise of share-based awards 4 3 Taxes withheld and paid related to net share settlement of equity awards (4,357 ) (2,731 ) Repurchase of Common Stock (25,593 ) (15,962 ) Payment of cash dividends (18,402 ) (17,436 ) Net cash used in financing activities (48,348 ) (36,126 ) Effect of exchange rate changes 666 210 Net increase in cash and cash equivalents 50,339 32,803 Cash and cash equivalents at beginning of period 161,571 79,443 Cash and cash equivalents at end of period $ 211,910 $ 112,246 (1) Depreciation and amortization for the first nine months of fiscal 2025 and 2024 included approximately $12.7 million and $13.9 million, respectively, of non-cash amortization expense recognized on acquisition-related intangible of GAAP to Non-GAAP Financial Measures The Company reports its consolidated financial results in accordance with generally accepted accounting principles ('GAAP'). To supplement the Company's consolidated financial results in this press release, the Company also presents Adjusted EBITDA and Adjusted EBITDA margin, which are non-GAAP financial measures. The Company defines Adjusted EBITDA as net income before interest, income taxes, depreciation and amortization, further adjusted for share-based compensation expense and other items impacting the comparability of the Company's underlying operating performance between periods. Adjusted EBITDA margin is defined as Adjusted EBITDA for a period divided by revenue for the same period. The Company believes these non-GAAP financial measures provide useful supplemental information regarding the performance of the Company and its segments to both management and investors. In addition, by excluding certain items, these non-GAAP financial measures enable management and investors to further evaluate the underlying operating performance of the Company. Supplemental reconciliations of the Company's consolidated net income on a GAAP basis to Adjusted EBITDA and Adjusted EBITDA margin, are presented in the following table. Investors are encouraged to review the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP financial measures, which are provided below. Adjusted EBITDA and Adjusted EBITDA margin should be considered in addition to, and not as substitutes for, or in isolation from, measures prepared in accordance with GAAP. The Company does not allocate its provision for income taxes to its business segments and as a result, presents it in a separate column in the following tables. Thirteen Weeks Ended May 31, 2025 Core Laundry Specialty First (In thousands, except percentages) Operations Garments Aid Other Total Revenue $ 533,188 $ 47,803 $ 29,787 $ — $ 610,778 Net income $ 41,955 $ 10,915 $ 525 $ (13,715 ) $ 39,680 Provision for income taxes — — — 13,715 13,715 Interest income, net (2,514 ) — — — (2,514 ) Depreciation and amortization 32,442 1,305 975 — 34,722 Share-based compensation expense 2,803 182 30 — 3,015 Gain on the sale of a non-operating property (2,792 ) — — — (2,792 ) Adjusted EBITDA $ 71,894 $ 12,402 $ 1,530 $ — $ 85,826 Adjusted EBITDA Margin 13.5 % 25.9 % 5.1 % 14.1 % Thirteen Weeks Ended May 25, 2024 Core Laundry Specialty First (In thousands, except percentages) Operations Garments Aid Other Total Revenue $ 528,454 $ 47,582 $ 27,292 $ — $ 603,328 Net income $ 37,813 $ 11,373 $ 148 $ (11,277 ) $ 38,057 Provision for income taxes — — — 11,277 11,277 Interest income, net (1,406 ) — — — (1,406 ) Depreciation and amortization 32,716 1,035 809 — 34,560 Share-based compensation expense 2,134 144 25 — 2,303 Adjusted EBITDA $ 71,257 $ 12,552 $ 982 $ — $ 84,791 Adjusted EBITDA Margin 13.5 % 26.4 % 3.6 % 14.1 % Thirty-Nine Weeks Ended May 31, 2025 Core Laundry Specialty First (In thousands, except percentages) Operations Garments Aid Other Total Revenue $ 1,596,282 $ 138,160 $ 83,463 $ — $ 1,817,905 Net income $ 113,069 $ 30,515 $ 380 $ (36,720 ) $ 107,244 Provision for income taxes — — — 36,720 36,720 Interest income, net (7,422 ) — — — (7,422 ) Depreciation and amortization 97,622 4,047 2,807 — 104,476 Share-based compensation expense 8,406 557 86 — 9,049 Gain on the sale of a non-operating property (2,792 ) — — — (2,792 ) Executive transaction costs 1,429 — — — 1,429 Adjusted EBITDA $ 210,312 $ 35,119 $ 3,273 $ — $ 248,704 Adjusted EBITDA Margin 13.2 % 25.4 % 3.9 % 13.7 % Thirty-Nine Weeks Ended May 25, 2024 Core Laundry Specialty First (In thousands, except percentages) Operations Garments Aid Other Total Revenue $ 1,574,863 $ 135,713 $ 76,988 $ — $ 1,787,564 Net income $ 100,843 $ 33,391 $ (1,927 ) $ (31,468 ) $ 100,839 Provision for income taxes — — — 31,468 31,468 Interest income, net (4,590 ) — — — (4,590 ) Depreciation and amortization 97,836 3,087 2,530 — 103,453 Share-based compensation expense 6,568 505 72 — 7,145 Adjusted EBITDA $ 200,657 $ 36,983 $ 675 $ — $ 238,315 Adjusted EBITDA Margin 12.7 % 27.3 % 0.9 % 13.3 % Investor Relations ContactShane O'Connor, Executive Vice President & CFOUniFirst Corporation978-658-8888shane_oconnor@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
03-06-2025
- Automotive
- Cision Canada
UniFirst No. 9 Chevrolet Set for June 8 Race at Michigan International Speedway
WILMINGTON, Mass., June 3, 2025 /CNW/ -- UniFirst Corporation (NYSE:UNF), a North American leader in providing customized business uniform programs, facility service products and first aid and safety services, in partnership with 14-time NASCAR Cup Series champions Hendrick Motorsports, is bringing the UniFirst No. 9 Chevrolet back to the track. Driven by 2020 NASCAR Cup Series champion Chase Elliott, the car will race at Michigan International Speedway on Sunday, June 8, beginning at 2 PM ET and televised on Prime Video. The freshly designed UniFirst No. 9 Chevrolet exudes energy with its bold green and gray tones, sleek racing stripes, and the iconic "U-Mark" symbolizing UniFirst's commitment to exceptional service. "The UniFirst No. 9 is back, and we're fired up to see Chase go for a win in Michigan," said David Katz, Executive Vice President of Sales and Marketing at UniFirst. "NASCAR fans bring unmatched energy, and we're proud to be part of the excitement on race day." The Michigan race is one of five appearances for the UniFirst No. 9 Chevrolet during the 2025 NASCAR Cup Series season. Fans can also look forward to seeing the UniFirst No. 9 on these final two upcoming dates: August 16 at Richmond Raceway October 5 at Charlotte Motor Speedway ROVAL "I'm looking forward to getting the UniFirst Chevy on track at Michigan," said Elliott, who has 10 top-10 finishes in 14 starts at the 2-mile oval. "It's a fast track and one that I enjoy going to. Last year, we were able to lead some laps but didn't quite get the finish we wanted. Ready to see what we can accomplish this weekend with the UniFirst colors on board." The partnership between UniFirst and Hendrick Motorsports reaches a milestone in 2025, marking 10 years of collaboration. This year also marks the sixth season UniFirst has sponsored Chase Elliott and the No. 9 team. UniFirst is the Official Workwear Provider of Hendrick Motorsports, supplying work clothing and uniforms to the team, as well as to its sister company, Hendrick Automotive Group. For more information on UniFirst, visit About UniFirst Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, facility service products, as well as first aid and safety supplies and services. Together with its subsidiaries, the company also manages specialized garment programs for the cleanroom and nuclear industries. In addition to partnering with leading brands, UniFirst manufactures its own branded workwear, protective clothing, and floorcare products at its three company-owned ISO-9001-certified manufacturing facilities. With more than 270 service locations, over 300,000 customer locations, and 16,000-plus employee Team Partners, the company outfits more than 2 million workers every day. For additional information, contact UniFirst at 888.296.2740 or visit Follow UniFirst on Social Media: LinkedIn, Facebook, X, YouTube, Instagram. About Hendrick Motorsports: Founded by Rick Hendrick in 1984, Hendrick Motorsports is the winningest team in NASCAR Cup Series history. At the sport's premier level, the organization holds the all-time records in every major statistical category, including championships (14), points-paying race victories (316) and laps led (more than 83,000). It has earned at least one race win in a record 41 different seasons, including an active streak of 40 in a row (1986-2025). The team fields four full-time Chevrolet entries in the NASCAR Cup Series with drivers Alex Bowman, William Byron, Chase Elliott and Kyle Larson. Headquartered on more than 150 acres in Concord, North Carolina, Hendrick Motorsports employs approximately 600 people. For more information, please visit or interact on Facebook, Instagram, TikTok and X.
