Unifirst Corp - UNF STOCK NEWS

UniFirst (NYSE:UNF) has announced its Board of Directors' declaration of regular quarterly cash dividends. Shareholders will receive $0.350 per share on Common Stock and $0.280 per share on Class B Common Stock. Both dividends will be paid on March 28, 2025, to shareholders of record as of March 7, 2025.

UniFirst is a North American leader in uniform and workwear programs, facility service products, and first aid and safety supplies. The company operates through 270 service locations, serves over 300,000 customer locations, and employs 16,000-plus Team Partners. UniFirst maintains five ISO-9001-certified manufacturing facilities where it produces branded workwear, protective clothing, and floorcare products, outfitting more than 2 million workers daily.

UniFirst (NYSE: UNF) reported its Q1 2025 financial results with consolidated revenues increasing 1.9% to $604.9 million. Operating income rose 4.5% to $55.5 million, while net income grew 1.8% to $43.1 million. Diluted earnings per share increased 2.2% to $2.31.

The Core Laundry Operations segment saw revenues increase 1.7% to $532.7 million, with an operating margin improvement to 8.1%. Specialty Garments revenue grew 2.9% to $45.9 million. The company maintained a strong financial position with $181.0 million in cash and no long-term debt.

For fiscal 2025, UniFirst projects revenues between $2.425 billion and $2.440 billion, with expected diluted earnings per share between $6.79 and $7.19.

UniFirst (NYSE: UNF) has confirmed its Board of Directors' unanimous rejection of an unsolicited acquisition proposal from Cintas received in November and December 2024. The proposal offered to acquire all outstanding common and Class B shares at $275.00 per share.

After careful review with independent advisors, the Board determined the proposal was not in the best interests of UniFirst, its shareholders, and stakeholders. The decision was based on the offer price, execution and business risks, feedback from major shareholders, and the company's future growth prospects. The Board and management team expressed confidence in their current strategy and commitment to creating shareholder value.

J.P. Morgan Securities and Paul Hastings LLP are serving as financial and legal advisors, respectively.

Cintas (CTAS) has proposed to acquire UniFirst (UNF) for $275.00 per share in cash, representing a total value of approximately $5.3 billion. The offer represents a 46% premium to UniFirst's 90-day average closing price as of January 6, 2025.

The proposal was initially delivered on November 8, 2024, but UniFirst's Board has refused to engage despite multiple attempts by Cintas. The combined company would serve over 1 million business customers across the US and Canada, providing enhanced processing capacity and route density.

This marks Cintas's second attempt to acquire UniFirst, following a previous offer of $255 per share in February 2022. The current proposal is not subject to financing contingencies and would be funded through cash on hand, credit lines, and other financing sources. The transaction requires UniFirst shareholder and regulatory approvals.

UniFirst (NYSE: UNF) has announced it will release its Fiscal 2025 first quarter results on January 8, 2025, before market opening. The company will host a conference call at 9:00 a.m. Eastern Time on the same day to discuss quarterly financial results, business highlights, and outlook.

A live webcast and replay will be available at http://investors.unifirst.com. UniFirst is a North American leader in uniform and workwear programs, facility service products, and first aid and safety supplies. The company operates 270 service locations, serves over 300,000 customer locations, employs 16,000-plus Team Partners, and outfits more than 2 million workers daily.

UniFirst (NYSE:UNF) has unveiled a new paint scheme for the UniFirst No. 9 Chevrolet Camaro ZL1 for the 2025 NASCAR Cup Series season. The design, created with Hendrick Motorsports, features UniFirst's signature green and gray colors along with the company's 'u mark'. Chase Elliott, 2020 Cup Series Champion, will drive the car in five races during 2025, starting March 23 at Homestead-Miami Speedway. The design aligns with UniFirst's corporate rebrand and will be featured at Darlington Raceway, Michigan International Speedway, Richmond Raceway, and Charlotte Motor Speedway ROVAL. This marks the 10th year of UniFirst's partnership with Hendrick Motorsports and sixth year sponsoring Elliott.

UniFirst (NYSE:UNF) announced increased quarterly cash dividends. The Board of Directors declared dividends of $0.350 per share on Common Stock and $0.280 per share on Class B Common Stock. Both dividends will be paid on January 3, 2025 to shareholders of record on December 6, 2024. UniFirst is a North American leader in uniform and workwear programs, facility services, and safety supplies, serving over 300,000 customer locations through 270 service locations and employing 16,000-plus Team Partners.

UniFirst (NYSE: UNF) reported strong Q4 and fiscal 2024 results. Q4 consolidated revenues increased 11.9% to $639.9 million, with operating income up 49.8% to $54.0 million. Net income rose 61.5% to $44.6 million, with diluted EPS increasing 62.6% to $2.39.

For fiscal 2024, full-year revenues reached $2.427 billion, up 8.7%. Operating income increased 37.4% to $183.6 million, with net income rising 40.3% to $145.5 million. The company projects fiscal 2025 revenues between $2.425-2.445 billion with EPS guidance of $6.79-7.19.

UniFirst (NYSE: UNF), a leader in business uniform programs and facility services, will be at the Charlotte Motor Speedway ROVAL on October 13 for the NASCAR Cup Series playoff race. Chase Elliott, driving the UniFirst No. 9 Chevrolet Camaro ZL1, enters the race eighth in playoff standings. This event marks the final appearance of the season for the UniFirst No. 9 Chevrolet with its green scheme.

UniFirst will continue its partnership with Hendrick Motorsports next season, serving as the primary sponsor for five races in the 2025 NASCAR Cup Series and maintaining its role as an associate sponsor throughout the entire season. The race begins at 2 p.m. ET on NBC, with Elliott aiming to advance to the Round of 8 in the playoffs.