Unifirst Corp - UNF STOCK NEWS

UniFirst (NYSE: UNF), a leading North American supplier of uniform and workwear programs, facility service products, and safety supplies, has issued a statement addressing recent industry rumors. The company confirmed that it had contacted Elis SA to inquire about rumors regarding Elis's potential entry into the U.S. market. UniFirst clarified that these discussions were not intended to solicit an offer and have since concluded.

UniFirst stated that it does not anticipate further discussions with Elis. The company expressed enthusiasm about its ongoing investments in people, technology, and infrastructure, emphasizing its belief in its significant long-term potential.

UniFirst (NYSE:UNF), in partnership with Hendrick Motorsports, will be at Kansas Speedway on September 29 for the NASCAR Cup Series playoff race. Chase Elliott will drive the UniFirst No. 9 Chevrolet Camaro ZL1 in the opening race of the Round of 12. Elliott is currently seventh in the playoff standings, six points above the elimination line.

The UniFirst No. 9 Chevy will feature the company's signature green color with racing-inspired black and white accents. Elliott and the race team will wear matching fire suits. The UniFirst No. 9 will make its final appearance of the season at the Charlotte ROVAL on October 13.

This marks the eighth year of UniFirst's partnership with Hendrick Motorsports and the fifth year sponsoring Elliott and the No. 9 team. UniFirst serves as the Official Workwear Provider for Hendrick Motorsports and Hendrick Automotive Group.

UniFirst (NYSE: UNF) has announced significant leadership changes. Kelly Rooney has been appointed as Chief Operating Officer (COO), effective September 30, 2024. Rooney, with over 25 years of experience in B2B route-based operations, will oversee UniFirst's day-to-day operations, focusing on growth, customer service, and operational efficiencies.

Additionally, Michael Croatti, Executive Vice President, will transition from his current role in November 2024 after a 35-year career with the company. Croatti, son of former UniFirst CEO Ron Croatti, will remain involved in a consulting capacity, collaborating on key customer and industry partnerships.

CEO Steve Sintros expressed enthusiasm for Rooney's appointment and gratitude for Croatti's continued involvement, emphasizing UniFirst's commitment to driving success while maintaining strong values and relationships.

UniFirst (NYSE: UNF), a leading North American supplier of uniform and workwear programs, will announce its Fiscal 2024 fourth quarter results on October 23, 2024 before the market opens. 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.

UniFirst may also address questions about business and financial developments, trends, earnings forecasts, and other matters during the call. The event will be accessible via a live webcast and replay at http://investors.unifirst.com. With over 270 service locations, 300,000+ customer locations, and 16,000+ employees, UniFirst outfits more than 2 million workers daily.

UniFirst (NYSE:UNF) has announced the grand opening of its new state-of-the-art uniform service and processing facility in London, Ontario. The 56,000 square-foot facility, located at 2365 Innovation Drive, is designed to enhance uniform services across Southwestern Ontario, serving nearly 2000 customers in industries such as healthcare, hospitality, food processing, and manufacturing.

The facility features advanced processing technology for optimized uniform cleaning, maintenance, and delivery, while incorporating environmentally friendly features. It will employ approximately 80 local residents, contributing to the region's economic growth. The grand opening event is scheduled for September 10, with a ribbon-cutting ceremony at 11 a.m. ET, attended by London Mayor Josh Morgan and other dignitaries.

UniFirst (NYSE:UNF) has announced the 2024 recipients of the Aldo Croatti and Ronald D. Croatti Scholarships. The company has awarded nearly $1 million in financial support since the scholarships' inception. This year, 12 Aldo Croatti Scholarships totaling $22,000 were granted to children of full-time UniFirst employees for undergraduate studies. Additionally, 12 Ronald D. Croatti Scholarships amounting to $33,740 were awarded to full-time UniFirst employees pursuing undergraduate or graduate studies.

The Aldo Croatti Scholarship, honoring UniFirst's founder, has provided over $500,000 since 2004. The Ronald D. Croatti Scholarship, established in 2015, has given over $350,000 to support employees' educational aspirations. UniFirst President and CEO Steven Sintros emphasized the company's commitment to investing in the education and development of team members and their families.

UniFirst (NYSE:UNF), a leading North American provider of business uniform programs, facility services, and first aid supplies, has been named to Selling Power's 'Best Companies to Sell For' list for the 21st consecutive year. This prestigious list, featuring 60 top companies, highlights those excelling in core areas such as compensation, sales training, diversity, and AI integration in sales processes. UniFirst's commitment to professional growth and a supportive sales culture helped secure its place on the list. The company serves over two million uniform wearers, including more than half of the Fortune 500. UniFirst's accolades also include being recognized by Glassdoor, Forbes, and Newsweek for career opportunities, large employers, and customer service. The company continues to recruit sales talents who thrive in its empowering and growth-oriented environment.

UniFirst (NYSE: UNF) announced that its Board of Directors has declared regular quarterly cash dividends. Shareholders of the Company's Common Stock will receive $0.330 per share, while holders of Class B Common Stock will get $0.264 per share. These dividends are scheduled for payment on September 27, 2024, to those who are recorded as shareholders by September 6, 2024.

UniFirst is a North American leader in providing uniforms, workwear programs, and facility services, including first aid and safety supplies. The company also manages specialized garment programs for cleanroom and nuclear industries. Operating over 270 service locations and employing more than 16,000 individuals, UniFirst serves over 300,000 customer locations daily.

UniFirst (NYSE: UNF) reported strong financial results for Q3 of fiscal 2024, ending May 25, 2024. Consolidated revenues rose 4.6% to $603.3 million, with operating income increasing by 45.1% to $48.5 million. Net income saw a significant rise of 56.8% to $38.1 million, and diluted EPS increased by 57.4% to $2.03.

EBITDA grew 29.0% to $82.5 million, and cash flow from operating activities increased by 35.2% to $193.0 million for the first nine months of 2024. The company's Core Laundry Operations posted a 5.3% revenue growth, while Specialty Garments saw a 3.7% revenue decrease due to nuclear operations.

UniFirst incurred $3.9 million in costs for its CRM and ERP projects, affecting operating income and EBITDA. The company repurchased 47,250 shares for $7.8 million. With no long-term debt, UniFirst expects fiscal 2024 revenues between $2.415 billion and $2.425 billion, and fully diluted EPS between $7.17 and $7.49.