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GlobeNewswire·

UniFirst Announces Financial Results for the Second Quarter of Fiscal 2026

UNF
  • UniFirst Corporation reported fiscal 2026 second-quarter consolidated revenues of $622.5 million, a 3.4% increase from $602.2 million in the prior-year period.
  • Operating income was $26.0 million and adjusted EBITDA was $66.8 million, both lower than the $31.2 million and $68.9 million reported in the second quarter of fiscal 2025.
  • Net income decreased to $20.5 million from $24.5 million in the prior year, while diluted earnings per share fell to $1.13 from $1.31.
  • The decline in operating margin to 4.2% from 5.2% was attributed to planned investments in growth and digital transformation initiatives.
  • Segment revenues for Uniform & Facility Service Solutions increased 3.2% to $568.8 million, driven by organic growth of 2.8%.
  • First Aid & Safety Solutions segment revenues rose 12.2% to $30.8 million, while the Other segment revenues declined 1.9% to $22.9 million.
  • The company recorded approximately $3.0 million in costs related to its enterprise resource planning project ("Key Initiative"), which reduced operating income and adjusted EBITDA.
  • Additional costs of $4.5 million were incurred for strategic and employee matters, including $2.0 million for shareholder engagement related to the proposed merger with Cintas and $2.5 million for legal expenses regarding an employee matter.
  • UniFirst and Cintas entered a definitive agreement for Cintas to acquire UniFirst, offering shareholders $155.00 in cash plus 0.7720 shares of Cintas stock per share.
  • The merger transaction is expected to close in the second half of calendar 2026, subject to regulatory approvals and shareholder consent.
  • As of February 28, 2026, the company held $157.5 million in cash, cash equivalents, and short-term investments with no long-term debt outstanding.
  • The company declared a quarterly cash dividend of $0.365 per share but did not repurchase any common stock during the quarter.
  • Due to the pending transaction with Cintas, UniFirst ceased providing financial guidance and hosting quarterly conference calls.