NYSE$UNF
UniFirst Corporation · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
UniFirst reported financial results for the third quarter of fiscal 2023.
UniFirst Corporation reported a 12.7% increase in consolidated revenues, reaching $576.7 million. However, operating income saw a slight decrease of 0.9% to $33.4 million, and net income decreased by 3.2% to $24.3 million. Diluted earnings per share also decreased by 3.0% to $1.29.
- Consolidated revenues increased 12.7% to $576.7 million.
- Operating income decreased 0.9% to $33.4 million.
- Net income decreased 3.2% to $24.3 million.
- Diluted earnings per share decreased 3.0% to $1.29.
Headline financials
Revenue & EPS history
UniFirst · Revenue · Quarterly
$577M
Revenue by segment
UniFirst · $634M total across 3 segments · Q3 2026
- Uniform & Facility Service Solutions$576M—90.8%
- First Aid & Safety Solutions$30.8M—4.9%
- Other$27.8M—4.4%
Forward guidance
The Company now expects its revenues for fiscal 2023 to be between $2.220 billion and $2.230 billion, and diluted earnings per share to be between $5.02 and $5.37.
Tailwinds
- Strong top-line performance in the Specialty Garments’ business.
- Improved expectations for the remainder of the year in Specialty Garments.
- Core Laundry Operations’ operating margin at the midpoint of the range of 4.7%.
- Core Laundry Operations’ EBITDA margin at the midpoint of the range of 10.5%.
- Effective tax rate of 25.75%.
Headwinds
- Approximately $37.0 million of costs directly attributable to Key Initiatives.
- Approximately $3.0 million of Clean acquisition-related expenses.
- Combined decrease to the Core Laundry Operations' operating and EBITDA margin assumptions by 2.1%.
- Combined decrease to EPS by $1.60.
- No impact from any future share buybacks or unexpected significantly adverse economic developments.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q3 2023
-0.3%
Avg return
Earnings day
-0.5%
Avg return
5 days after
+1.9%
Avg return
30 days after
45%
30 / 66 earnings
Positive
+11.6%
Q2 2018
Best reaction
-11.8%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | — | — | — | |
| Q2 2026 | +0.9% | -1.3% | — | |
| Q1 2026 | -3.3% | -0.8% | -0.9% | |
| Q4 2025 | -6.0% | -0.2% | -2.4% | |
| Q3 2025 | -2.4% | -1.5% | -1.9% | |
| Q2 2025 | +1.0% | -6.3% | +2.6% | |
| Q1 2025 | +7.8% | +10.7% | +7.2% | |
| Q4 2024 | -0.4% | -2.1% | +5.4% | |
| Q3 2024 | +11.0% | +11.1% | +23.8% | |
| Q2 2024 | +3.8% | +1.4% | -1.7% | |
| Q1 2024 | -9.5% | -8.2% | -3.5% | |
| Q4 2023 | -0.8% | -0.4% | +4.4% | |
| Q3 2023 | -6.3% | -7.0% | -6.1% | |
| Q2 2023 | -10.2% | -10.8% | -15.3% | |
| Q1 2023 | +5.3% | +5.9% | +7.9% | |
| Q4 2022 | -3.4% | -1.5% | +11.4% | |
| Q3 2022 | +6.7% | +6.9% | +21.4% | |
| Q2 2022 | -3.2% | -7.7% | -9.5% | |
| Q1 2022 | -5.8% | -7.9% | -14.5% | |
| Q4 2021 | -6.3% | -5.7% | -8.8% | |
| Q3 2021 | -6.4% | -6.3% | -9.9% | |
| Q2 2021 | +1.2% | -0.1% | +0.9% | |
| Q1 2021 | +4.9% | +3.0% | +7.9% | |
| Q4 2020 | -11.8% | -15.1% | -1.2% | |
| Q3 2020 | -2.0% | -2.7% | +4.2% | |
| Q2 2020 | -7.7% | -0.6% | +9.8% | |
| Q1 2020 | +2.0% | +4.9% | -0.9% | |
| Q4 2019 | +4.5% | +5.2% | +5.9% | |
| Q3 2019 | +11.3% | +12.7% | +17.0% | |
| Q2 2019 | +10.8% | +12.1% | +12.7% | |
| Q1 2019 | -6.6% | -4.7% | -4.6% | |
| Q4 2018 | -8.1% | -7.4% | -8.4% | |
| Q3 2018 | -2.5% | -0.2% | +1.8% | |
| Q2 2018 | +11.6% | +6.9% | +10.4% | |
| Q1 2018 | +4.3% | +2.3% | -2.8% | |
| Q4 2017 | +0.2% | +0.5% | -1.0% | |
| Q3 2017 | +0.9% | +3.0% | +2.7% | |
| Q2 2017 | +3.7% | +1.0% | +2.3% | |
| Q1 2017 | -6.9% | -8.5% | -11.6% | |
| Q4 2016 | -9.1% | -9.0% | +7.3% | |
| Q3 2016 | +9.7% | +8.8% | +10.8% | |
| Q2 2016 | -3.3% | — | — | |
| Q1 2016 | +0.3% | — | — | |
| Q4 2015 | -5.1% | — | — | |
| Q3 2015 | +4.7% | — | — | |
| Q2 2015 | +3.8% | — | — | |
| Q1 2015 | -0.7% | — | — | |
| Q4 2014 | -1.3% | — | — | |
| Q3 2014 | -2.1% | — | — | |
| Q2 2014 | -5.2% | — | — | |
| Q1 2014 | -1.4% | — | — | |
| Q4 2013 | -0.8% | — | — | |
| Q3 2013 | +2.8% | — | — | |
| Q2 2013 | -1.3% | — | — | |
| Q1 2013 | +8.4% | — | — | |
| Q4 2012 | +0.2% | — | — | |
| Q3 2012 | +0.3% | — | — | |
| Q2 2012 | -2.6% | — | — | |
| Q1 2012 | +1.8% | — | — | |
| Q4 2011 | -0.3% | — | — | |
| Q4 2009 | -0.3% | — | — | |
| Q4 2010 | -0.3% | — | — | |
| Q3 2011 | +1.3% | — | — | |
| Q2 2011 | -0.1% | — | — | |
| Q1 2011 | -5.5% | — | — | |
| Q3 2010 | +3.0% | — | — | |
| Q2 2010 | +0.1% | — | — |
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