NYSE$VSTS
Vestis Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Vestis reported strong Q4 2023 results driven by revenue growth and efficient operations.
Vestis reported Q4 2023 revenue of $715.9 million, a 4.8% increase year-over-year. Operating income increased by 89.5% to $57.8 million, and net income increased by 305.2% to $94.0 million. Adjusted EBITDA grew by 13.5% to $112.8 million. The company expects to deliver revenue growth in the range of 4.0 to 4.5% in fiscal year 2024.
- Revenue increased by 4.8% year-over-year to $715.9 million.
- Operating income increased by 89.5% year-over-year to $57.8 million.
- Net income increased significantly by 305.2% year-over-year to $94.0 million.
- Adjusted EBITDA increased by 13.5% year-over-year to $112.8 million.
Headline financials
Revenue & EPS history
Vestis · Revenue · Quarterly
$226M
Forward guidance
The Company expects to deliver revenue growth in the range of 4.0 to 4.5% and adjusted EBITDA margin to be maintained at not less than the fiscal 2023 level (14.3%).
Tailwinds
- Continued focus on providing service excellence to our customers.
- Delivering high-quality growth.
- Strategic imperatives include disciplined capital allocation with de-levering as a priority.
- Expect not less than 100% free cash flow conversion of net income.
Headwinds
- Approximately 50 to 60 basis points of margin expansion offsetting approximately $15 to $18 million in incremental public company costs in the period.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 13 quarterly earnings reports · overlaid with Q4 2023
-4.2%
Avg return
Earnings day
-4.1%
Avg return
5 days after
-2.3%
Avg return
30 days after
43%
6 / 14 earnings
Positive
+20.4%
Q4 2024
Best reaction
-49.1%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -0.3% | +1.7% | +10.2% | |
| Q1 2026 | +16.1% | +5.2% | +2.9% | |
| Q4 2025 | -7.3% | +4.2% | -0.7% | |
| Q3 2025 | -5.8% | -25.9% | -23.9% | |
| Q2 2025 | -37.5% | -24.8% | -27.8% | |
| Q1 2025 | -11.7% | -14.3% | -25.2% | |
| Q4 2022 | +4.4% | +3.6% | +4.9% | |
| Q4 2024 | +20.4% | +22.7% | +23.1% | |
| Q3 2024 | +2.2% | +0.7% | +15.4% | |
| Q2 2023 | +13.2% | +20.0% | +19.7% | |
| Q2 2024 | -49.1% | -44.6% | -33.3% | |
| Q1 2023 | -3.5% | -5.5% | -7.3% | |
| Q1 2024 | -9.8% | -13.0% | -16.4% | |
| Q4 2023 | +9.4% | +12.2% | +26.3% | |
| Q3 2022 | — | — | — | |
| Q2 2022 | — | — | — | |
| Q1 2022 | — | — | — |
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