Welcome to our dedicated page for Unifirst news (Ticker: UNF), a resource for investors and traders seeking the latest updates and insights on Unifirst stock.
UniFirst Corporation (NYSE: UNF), headquartered in Wilmington, Mass., stands as a North American leader in providing managed uniform and workwear programs, along with a wide range of ancillary facility services. The company extends its offerings to first aid and safety products and specializes in workwear programs for the cleanroom and nuclear industries. UniFirst also manufactures its own branded work clothing, protective garments, and floorcare products, operating over 250 locations across North America. Serving more than 300,000 business customers, UniFirst employs 14,000 team members and outfits nearly 2 million workers daily through its managed rental, lease, and purchase programs.
The company's core business is divided into several segments: The U.S. and Canadian Rental and Cleaning segment, which rents and sells uniforms and non-garment items while offering cleaning services; the Manufacturing segment, which designs and produces these items; the Specialty Garments segment, targeting the nuclear and cleanroom sectors; and the First Aid segment, providing safety supplies and pill packaging. Lastly, the Corporate segment integrates various associated costs.
UniFirst's mission is to be the foremost provider of quality uniform products and services. This objective fuels its continuous customer focus, enabling growth, equitable returns on investment, and the creation of development opportunities for its employees.
Recently, UniFirst has expanded its footprint by opening a state-of-the-art, 70,000 square-foot uniform service and processing facility in Taylor, Michigan. This new plant, designed to meet the needs of the rapidly growing customer base in the metro Detroit area, incorporates the latest innovations in textile services technologies and automation. The facility emphasizes energy efficiency and environmental sustainability through advanced machinery and eco-friendly cleaning formulas.
UniFirst's partnership with Hendrick Motorsports highlights its involvement in high-profile ventures. For the 2024 NASCAR season, UniFirst will serve as the primary sponsor for five races, featuring Chase Elliott driving the No. 9 UniFirst Chevrolet Camaro ZL1. This partnership signifies UniFirst's commitment to broadening its brand visibility and strengthening relationships within the sports and automotive industries.
For more information on UniFirst’s extensive range of products and services, visit UniFirst.com or contact them at 888.296.2740.
UniFirst Corporation (NYSE: UNF) has declared its quarterly cash dividends of $0.310 per share on Common Stock and $0.248 per share on Class B Common Stock. The dividends will be paid on June 29, 2023, to shareholders of record by June 8, 2023. As a leader in uniform and workwear services, UniFirst operates with over 260 service locations and serves more than 300,000 customer locations. The company outfits over 2 million workers daily, demonstrating its substantial role in the market.
UniFirst Corporation reported a consolidated revenue increase of 11.5% to $542.7 million for Q2 2023, yet experienced an 8.4% decline in operating income to $20.7 million. Net income fell by 3.5% to $17.8 million, reflecting a 2.1% decrease in diluted earnings per share (EPS) to $0.95. The company incurred costs of approximately $9.1 million related to key initiatives and $2.0 million from the Clean Uniform acquisition. With cash and cash equivalents at $345.1 million and no long-term debt, the company anticipates revenues between $2.210 billion and $2.220 billion for fiscal 2023.
UniFirst Corporation (NYSE: UNF) announced a significant safety achievement at its Owensboro, Kentucky distribution center, reaching 1,164,849 hours without a lost time incident from June 1, 2021 to September 30, 2022. This marks the third recognition from the Kentucky Education and Labor Cabinet.
The facility, one of the area's largest employers with over 400 employees, has implemented extensive safety programs, including wellness initiatives and on-site safety training. Notably, the Owensboro facility also holds OSHA's VPP Star certification, affirming its commitment to workplace safety.
UniFirst Corporation (NYSE: UNF) announced the debut of its No. 9 Chevrolet Camaro ZL1, driven by Jordan Taylor, at the Circuit of The Americas on March 26 at 3:30 PM EDT. This marks the continuation of UniFirst's partnership with Hendrick Motorsports, which spans seven years. Notably, Taylor is stepping in for Chase Elliott, who is recovering from a leg injury. The No. 9 team has a strong history at COTA, with two top-five finishes, including a victory in 2021. UniFirst remains committed as the Official Workwear Provider for Hendrick Motorsports, supplying uniforms to the racing team and Hendrick Automotive Group.
UniFirst Corporation (NYSE: UNF) will announce its Fiscal 2023 Q2 results on March 29, 2023, prior to market opening. A conference call will follow at 9:00 a.m. ET to discuss financial results, business highlights, and outlook. The call may include undisclosed information regarding the company's earnings forecasts and financial developments. UniFirst is a leader in uniform supply and servicing, managing over 2 million workers daily through its more than 260 service locations across North America. Investors can access the call via a live webcast on the company’s investor relations site.
On February 9, 2023, UniFirst Corporation (NYSE: UNF) revealed the new paint scheme for the No. 9 UniFirst Chevrolet Camaro ZL1, driven by NASCAR champion Chase Elliott. The design incorporates UniFirst's signature green and black accents and will debut at the Circuit of The Americas on March 26, 2023. This marks the continuation of UniFirst’s partnership with Hendrick Motorsports, now in its seventh year. Elliott, a five-time Most Popular Driver, expressed excitement for the new season, emphasizing the memorable experiences shared with UniFirst. The company will also serve as an associate sponsor throughout the 2023 NASCAR season.
UniFirst Corporation (NYSE: UNF) has announced the acquisition of Clean Uniform for $300 million, reducing to a net price of about $260 million after tax benefits. Established in 1938, Clean has locations across five states and generates approximately $90 million in annual revenue. This acquisition aims to enhance service offerings and customer experience. UniFirst plans to retain Clean's employees and integrate the businesses strategically. The acquisition, approved by UniFirst's Board, is expected to close in the third fiscal quarter of 2023, pending regulatory approvals. Financial impacts will be discussed in the upcoming quarterly earnings call.
FAQ
What is the current stock price of Unifirst (UNF)?
What is the market cap of Unifirst (UNF)?
What services does UniFirst Corporation offer?
Where is UniFirst Corporation headquartered?
How many employees does UniFirst have?
What are the main business segments of UniFirst?
How many locations does UniFirst operate?
What industries does UniFirst serve?
What recent expansions has UniFirst undertaken?
Who are UniFirst's notable partners?
What is UniFirst's corporate mission?
How can I learn more about UniFirst's services?
