UniFirst Q1 Profit Up, Beats Estimates

(RTTNews) - UniFirst Corp. (UNF) Wednesday reported an increase in first-quarter profit on 11.4 percent increase in revenue compared to the prior year.

Earnings climbed to $33.96 million from $33.71 million last year. On a per-share basis, earnings increased to $1.81, from $1.77 in the prior year. Adjusted earnings were $2.21 per share. On average, 4 analysts polled by Thomson Reuters expected the company to earn $1.94 per share. Analysts' estimates usually exclude special items.

Revenue for the quarter increased to $541.79 million from $$486.16 million in the previous month.

Looking ahead to the full year 2023, the company expects earnings per share to be between $5.50-$5.90 per share and adjusted earnings per share in a range of $7.10 to $7.50 per share. Analysts are looking for $7.21 per share.

Revenue for the quarter is projected to be in the range of $2.145 to $2.160 billion. Wall Street expects $2.15 billion.