Welcome to our dedicated page for Vestis Corporation news (Ticker: VSTS), a resource for investors and traders seeking the latest updates and insights on Vestis Corporation stock.
Vestis Corporation (NYSE: VSTS) is a business-to-business provider of uniform services and workplace supplies, serving customers across North America. News related to Vestis often focuses on its financial performance, leadership changes, strategic transformation initiatives, and recognition from partners and industry organizations.
Investors and observers following VSTS news can expect regular updates on quarterly and full-year results, including revenue trends, operating income or loss, net income or loss, and non-GAAP measures such as Adjusted EBITDA and Free Cash Flow. The company issues press releases in connection with its earnings, and these are frequently accompanied by conference call and webcast details for management’s discussion of results and outlook.
Vestis also reports news about its multi-year strategic transformation plan, which is structured around Commercial Excellence, Operational Excellence, and Asset & Network Optimization. Announcements may cover actions designed to strengthen commercial strategy, standardize operations, optimize its asset and network footprint, and adjust its capital structure and credit agreements to enhance financial flexibility.
Leadership and governance developments are another recurring theme in Vestis news. The company has announced appointments and transitions in key roles such as President and Chief Executive Officer, Chief Financial Officer, Chief Human Resources Officer, and Chief Information Officer & Chief Digital Officer. These updates provide context on how Vestis is building its management team to support its transformation and operational goals.
Additional news items can include recognition from customers or partners, such as awards for supplier performance, as well as disclosures regarding long-term incentive awards and retention programs for key employees. For investors tracking VSTS, this news page offers a centralized view of material company announcements, earnings communications, and strategic updates over time.
Vestis (NYSE: VSTS), a leading provider of uniforms and workplace supplies, has scheduled its fiscal second quarter 2025 earnings announcement. The company will release its financial results after market close on Tuesday, May 6, 2025.
Management will host a webcast to discuss the results on Wednesday, May 7, 2025 at 9:00 AM ET. Investors can access the live webcast through the investor relations section at vestis.com. A slide presentation will accompany the call, and a replay will be available on the company's website for 90 days following the event.
Vestis (NYSE: VSTS) announced a significant leadership change with the immediate appointment of Phillip Holloman as Interim Executive Chairman, President and Chief Executive Officer. Holloman replaces Kim Scott, who has departed from both the company and its Board of Directors.
Holloman, who has served as Chairman of the Vestis Board since 2023, brings extensive industry experience from his 22-year career at Cintas, where he held various executive positions including president and chief operating officer. He currently serves on the Board of Directors for Pulte Group and the BlackRock Fixed Income Board.
The Board has engaged a leading executive search firm to identify Vestis' next permanent President and CEO. This transition comes as Vestis completes its first fiscal year as a public company.
Vestis (NYSE: VSTS), a leading provider of uniforms and workplace supplies, has scheduled its fiscal first quarter 2025 earnings release for January 31, 2025, before market opening. The company will host a webcast at 8:30 AM ET to discuss the results, accessible through the investor relations section of their website at vestis.com. The presentation will include accompanying slides, and a replay will be available on the website for 90 days following the event.
Vestis (NYSE: VSTS) reported fiscal 2024 results with revenue of $2.8 billion, down 0.7% year-over-year, and operating income of $158 million. The company's Adjusted EBITDA was $353 million with a 12.6% margin. Operating cash flow increased 83.6% to $472 million, while free cash flow rose 13.2% to $165 million. Net leverage improved to 3.62x from 3.95x, with net debt reducing by $319 million to $1.3 billion. For fiscal 2025, Vestis projects revenue between $2.8-2.83 billion and Adjusted EBITDA of $345-360 million. The company declared a quarterly dividend of $0.035 per share.
Vestis (NYSE: VSTS), a uniforms and workplace supplies provider, will release its fiscal Q4 and full-year 2024 earnings on November 21, 2024, before market open. Management will host a webcast at 8:30 AM ET to discuss results and fiscal 2025 outlook. The presentation will include slides and be accessible through the investor relations section at vestis.com. A replay will be available for 90 days after the event.
Vestis (NYSE: VSTS), a leading uniforms and workplace supplies provider, has announced an agreement to sell its 39% equity stake in Aramark Uniform Services Japan (AUSJ) to majority owner Mitsui & Co., for approximately $37 million. The proceeds will be used for debt repayment. AUSJ, established in 1988, is a uniform rental services provider in Japan.
Vestis does not anticipate recording a material gain or loss from this sale, as the stake was accounted for as a non-operating equity investment. The company believes this move will enhance its strategic focus, strengthen its balance sheet, and provide additional financial flexibility. The transaction is expected to close by the end of October 2024, subject to customary closing conditions and approvals.
Vestis (NYSE: VSTS) has confirmed receiving a preliminary inquiry from Elis SA regarding a potential transaction. The company's Board of Directors is taking this inquiry seriously and will evaluate all available alternatives. However, Vestis emphasizes that there is no guarantee that any transaction or alternative will result from this inquiry. The company has stated that it does not plan to make further announcements about this or any other inquiries or strategic alternatives at this time.
Vestis (NYSE: VSTS) has announced a quarterly cash dividend of $0.035 per share of common stock. The dividend will be paid to shareholders of record as of the close of business on September 13, 2024, with the payment expected on October 3, 2024. This decision was approved by the company's Board of Directors. Vestis has noted that future dividend payments, including their amount and timing, will be subject to board approval.
Vestis (NYSE: VSTS) reported Q3 2024 results with revenue of $698 million, down 1.6% year-over-year. Operating income was $38 million (5.4% of revenue), while Adjusted EBITDA reached $87 million (12.4% of revenue). The company's fiscal year-to-date operating cash flow increased 22.4% to $176 million, and free cash flow rose 22.6% to $125 million.
Vestis entered into a $250 million Accounts Receivable Securitization Facility, which will be used to repay outstanding term loans. This move is expected to reduce the company's pro forma Q3 net leverage from 3.98x to 3.33x and net debt from $1.53 billion to $1.28 billion. The company reiterated its fiscal year 2024 outlook, expecting Adjusted EBITDA margin to be at the higher end of the 12.0% to 12.4% guidance range.