Plus   Neg

UniFirst Lowers High End Of Revenue Outlook - Quick Facts

UniFirst Corp. (UNF) said it expects fiscal 2020 revenues will be between $1.860 billion and $1.872 billion and full year diluted earnings per share to be between $7.60 and $7.92. Analysts polled by Thomson Reuters expect the company to report profit per share of $8.02 on revenue of $1.86 billion. Analysts' estimates typically exclude special items.

The company has reduced the high end of its previously disclosed revenue outlook partially due to reduced business activity and wearer levels in the energy dependent markets. The company's fiscal 2020 will contain one less week compared to fiscal 2019.

For the first-quarter, earnings per share increased to $2.52 from $1.99, a year ago. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $2.01 for the quarter.

First-quarter consolidated revenues increased 6.1% to $465.4 million. Analysts expected revenue of $459.56 million for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration (FDA) has gone ahead with the approval of antiviral drug remdesivir as first treatment for COVID-19, notwithstanding last week's findings by the World Health Organization (WHO) that the drug is not effective for COVID-19 treatment. Thursday, Gilead Sciences announced that the FDA approved remdesivir, sold under the brand name Veklury. Integrated payments firm American Express Co. (AXP) reported Friday that net income for the third quarter declined to $1.1 billion or $1.30 per share from $1.8 billion or $2.08 per share in the prior-year quarter. Consolidated total revenues, net of interest expense, also decreased 20 percent to $8.8... The Federal Trade Commission or FTC has launched a new fraud reporting platform, using which, consumers can easily report fraud and all other consumer issues directly to the regulator. In a statement, the FTC said its new website, ReportFraud.ftc.gov, will provide a streamlined and user-friendly way to submit reports about scams, frauds, and bad business practices.
Follow RTT