UNIFIRST CORPORATION Reports USD 576.7 Million Revenue and USD 24.3 Million Net Income for FY2023 Q3

🌥️Earnings Overview

For the fiscal year ending May 31 2023, UNIFIRST CORPORATION ($NYSE:UNF) reported total revenue of USD 576.7 million and net income of USD 24.3 million. This represented a 12.7% year-on-year increase in total revenue but a 3.2% decrease in net income compared to the same period last year.

Market Price

On Wednesday, UNIFIRST CORPORATION announced its financial results for quarter three of fiscal year 2023. The market responded negatively to the announcement: UNIFIRST CORPORATION stock opened at $164.9 and closed at $155.4, representing a 7.0% drop from its previous closing price of 167.1. The company’s share price has been volatile over the past few months as investors weigh the company’s future prospects and profitability. Despite the decline in revenue, investors seem to be optimistic about UNIFIRST CORPORATION’s future growth and performance. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Unifirst Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Unifirst Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Unifirst Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Unifirst Corporation are shown below. More…

Analysis

At GoodWhale, we take pride in providing a comprehensive analysis of UNIFIRST CORPORATION‘s financials. With our Risk Rating system, you can get a quick overview of their financial and business risk for an informed decision. Currently, UNIFIRST CORPORATION is a medium risk investment according to our analysis. Furthermore, GoodWhale has detected one risk warning in UNIFIRST CORPORATION’s balance sheet. As a registered user, you can take a closer look at this warning to make more informed decisions. Sign up and uncover deeper insights into your investments today. More…

Peers

Its main competitors are Johnson Service Group PLC, Target Hospitality Corp, and Servizi Italia SpA.

– Johnson Service Group PLC ($LSE:JSG)

The company’s market cap is 421.43M as of 2022, a Return on Equity of 6.15%. The company provides engineering and technical services to customers in the UK, US, Canada, and Australia. It also provides support services to the UK Ministry of Defence.

– Target Hospitality Corp ($NASDAQ:TH)

Hospitality Corp is a leading provider of hospitality services. It has a market cap of 1.13B and a ROE of 43.39%. The company operates in the hotel, restaurant, and tourism industries. Hospitality Corp provides a wide range of services including hotel management, food and beverage management, event planning, and marketing. The company has a strong presence in the United States, Europe, Asia, and the Middle East.

– Servizi Italia SpA ($LTS:0NJ3)

Servizi Italia SpA is a holding company that provides services in the information and communication technology, environmental, and energy sectors in Italy and internationally. The company was founded in 2003 and is based in Rome, Italy. Servizi Italia SpA operates as a subsidiary of Telecom Italia S.p.A.

Summary

UNIFIRST CORPORATION reported their earnings results for FY2023 Q3, with a total revenue of USD 576.7 million and reported net income of USD 24.3 million, for the period ending May 31 2023. Although the total revenue increased by 12.7% year over year, the net income decreased by 3.2% year over year. Investors reacted to this news by sending the stock price down.

From an investing perspective, UNIFIRST CORPORATION may not be a good choice as the net income decreased, indicating that profits are not growing as quickly as expected. Investors should monitor the company’s financial performance more closely in the coming quarters.