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UniFirst Sees FY23 Adj. EPS Below View; Q4 Results Top Estimates
(RTTNews) - While reporting financial results for the fourth quarter on Wednesday, UniFirst Corp. (UNF) initiated its earnings, adjusted earnings and revenues guidance for the full-year 2023.
For fiscal 2023, the company now projects earnings in a range of $5.50 to $5.90 per share and adjusted earnings in a range of $7.10 to $7.50 per share on revenues between $2.145 billion and $2.160 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.72 per share on revenues of $2.12 billion for the year. Analysts' estimates typically exclude special items.
For the fourth quarter, the company reported net income of $26.18 million or $1.39 per share, down from $34.61 million or $1.82 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $1.79 per share.
Total revenue for the quarter increased 11.0 percent to $516.41 million from $465.28 million in the same quarter last year.
The Street was looking for earnings of $1.73 per share on revenues of $512.12 million for the quarter.
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