US uniform rental firm Unifirst Corp reports Q3 FY21 sales of $464 mn

02 Jul '21
2 min read
Pic: Shutterstock
Pic: Shutterstock

UniFirst Corp, a North American leader in supply and servicing of uniform and workwear programmes, reported 4.2 per cent sales growth to $464.3 million in third quarter (Q3) FY21 ended on May 29, 2021, compared to $445.5 million in the corresponding quarter of previous fiscal. The company’s net income for Q3 rose to $42.0 million (Q3 FY20: $21.3 million).
“For over a year, our team partners have continued to put forth tremendous efforts in the face of the many obstacles created by the pandemic. They have worked extremely hard to take care of each other and our customers during these challenging times and I want to personally thank them for their extraordinary performance,” Steven Sintros, UniFirst president and chief executive officer, said in a press release.
The company’s total operating expenses were $410.1 million ($417.8 million), while operating income for Q3 FY21 was $54.1 million ($27.7 million).
Revenues from core laundry operations segment grew 5.3 per cent to $409.0 million ($388.4 million) due to the continued impact of the Covid-19 pandemic on company’s customers’ operations and wearer levels. Whereas specialty garments sales increased 5.7 per cent to $38.2 million ($36.1 million) due to growth in the company’s cleanroom operations as well as growth in European nuclear operations.
“Based on our results to date as well as our outlook for the remainder of the year, we now expect our revenues for fiscal 2021 to be between $1.8 billion and $1.8 billion and fully diluted earnings per share to be between $7.8 and $8.0. Increased business activity from a recovering economy is a welcome sight. However, as we look forward to fiscal 2022, we do expect our margins to be pressured by the current inflationary environment as well as a rebound of certain costs that trended lower during the pandemic,” Sintros concluded.

Fibre2Fashion News Desk (JL)

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