UniFirst Q2 Profit Down; Cuts FY EPS Outlook - Quick Facts

UniFirst Corp. (UNF) reported that its net income for the second quarter ended February 25, 2023 declined to $17.81 million from last year's $18.45 million, with earnings per share decreasing to $0.95 from $0.97 in the prior year.

But revenues for the quarter rose to $542.69 million from $486.70 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report revenues of $531.67 million for the second-quarter. Analysts' estimates typically exclude special items.

Looking ahead for fiscal year 2023, the company now expects earnings per share to be between $5.02 and $5.37 compared to the prior outlook of $5.50 - $5.90. Analysts expect annual earnings of $7.55 per share.

The company now expects annual revenues to be in the range of $2.210 billion - $2.220 billion, compared to the prior estimation of $2.145 billion - $2.160 billion. Wall Street analysts have a consensus revenue estimate of $2.16 billion.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
GameStop Corp. Wednesday disclosed that its Board of Directors has elected Chairman Ryan Cohen as Executive Chairman, effective immediately. In a filing with the U.S. Securities and Exchange Commission, the video game retailer said its Board on June 5 terminated Matthew Furlong as President and Chief Executive Officer with immediate effect. Shares of Inditex SA were gaining around 6 percent in the morning trading in Spain after the clothing firm that owns Zara reported Wednesday significant growth in its first-quarter profit on higher revenues as well as the absence of a prior year provision. Regarding the second quarter to date, the company said its store and online sales in constant currency between May 1 and June 4 increased 16.. The U.S. Consumer Product Safety Commission or CPSC, along with Golden, Colorado-based Boppy Co., urged consumers to stop using recalled Boppy Newborn Loungers, following reports of more infant deaths. They also asked online marketplaces to stop selling the recalled product. The company in September 2021 had recalled over 3.3 million infant lounging pillows after it was connected with deaths of 8
Follow RTT