UniFirst Corporation announced its financial results for the first quarter ended November 30, 2024, on January 8, 2025. Consolidated revenues for the quarter were $604.9 million, representing a 1.9% increase compared to $593.5 million in the prior year period. Net income was $43.1 million, or $2.31 per diluted share, with adjusted earnings per share of $2.40.
Operating income for the first quarter increased by 4.5% year-over-year to $55.5 million, and Adjusted EBITDA rose to $94.0 million from $88.7 million in the prior year. The company incurred approximately $2.5 million in costs directly attributable to its Key Initiatives, including CRM and ERP projects, during the quarter.
UniFirst reaffirmed its diluted earnings per share guidance for fiscal year 2025, expecting it to be between $6.79 and $7.19. The company slightly trimmed the top end of its revenue outlook, now projecting revenues between $2.425 billion and $2.440 billion, primarily due to the anticipated negative impact of the Canadian dollar exchange rate.
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