The operating income of the company was $55.5 million, an increase of 4.5 per cent YoY. The total operating expenses increased slightly to $549.4 million from $540.4 million in the same quarter of previous year, primarily due to higher selling and administrative expenses, which rose from $122.9 million to $133.5 million, said UniFirst Corporation in a press release.
After a provision for income taxes of $14.8 million, net income of the company was $43.1 million, an increase from $42.3 million in the same period in 2023. Basic earnings per share (EPS) for common stock rose to $2.41 from $2.35, and diluted earnings per share increased to $2.31 from $2.26, reflecting an improvement in financial performance.
The adjusted EBITDA of the company increased to $94.0 million compared to $88.7 million in the same quarter of prior year.
“We are pleased with the results from our first quarter, which represent a solid start to our fiscal year. I want to sincerely thank all our team partners who continue to always deliver for each other and our customers as we strive towards our vision of being universally recognised as the best service provider in the industry,” said Steven Sintros, president and chief executive officer at UniFirst.
Segment-wise, revenues from the core laundry operations increased 1.7 per cent YoY to $532.7 million. For specialty garments, revenues were $45.9 million, an increase of 2.9 per cent YoY, which was due primarily to growth in the European and North American nuclear operations, added the release.
Financial outlook
For full fiscal 2025 (FY25), Unfirst expects revenues to be between $2.425 billion and $2.440 billion, and expects diluted earnings per share to be between $6.79 and $7.19.
Fibre2Fashion News Desk (SG)