UniFirst Corporation restructures reporting segments, consolidating them into three categories for improved performance assessment.
Quiver AI Summary
UniFirst Corporation announced a restructuring of its reporting organization, effective from the fourth quarter of 2025, which will simplify its segments from five to three. The new reporting structure includes "Uniform & Facility Service Solutions," which combines former segments including U.S. and Canadian Rental and Cleaning, Manufacturing, and Corporate, and incorporates cleanroom solutions. The "First Aid & Safety Solutions" segment has been renamed to better reflect its offerings, while the "Other" segment now focuses on nuclear solutions. This change is aimed at aligning financial reporting with how the company manages and assesses performance. Key performance measures will continue to be revenue and operating income, with adjusted EBITDA also provided for comparative analysis, although there will be no restatement of previously reported financial results. Historical financial data reflecting the new structure is available for investor review.
Potential Positives
- The restructuring of reportable segments reflects a more efficient approach to managing and overseeing the business, which could enhance operational effectiveness.
- Consolidating segments may simplify financial reporting, making it easier for investors to understand the company's performance.
- Providing supplemental historical financial information aids investors in comprehending the impact of the segments' restructuring, which demonstrates transparency and commitment to clear communication.
Potential Negatives
- The restructuring of the reporting organization may raise concerns among investors about the clarity and comparability of financial results moving forward, as transitioning from five segments to three could complicate performance evaluation.
- The loss-making performance of the First Aid & Safety Solutions segment could indicate potential issues in this area of the business, which has experienced negative adjusted EBITDA in multiple reporting periods.
- While the company asserts that the modifications had no impact on its previously reported financial results, the focus on adjusted metrics that do not comply with U.S. GAAP may lead to skepticism regarding the company’s financial health and operational transparency.
FAQ
What changes has UniFirst Corporation made to its reporting segments?
UniFirst is consolidating its five reporting segments into three: Uniform & Facility Service Solutions, First Aid & Safety Solutions, and Other.
Why is UniFirst updating its reporting structure?
The new structure reflects how the Company manages its operations, assesses performance, and allocates resources more effectively.
What is included in the Uniform & Facility Service Solutions segment?
This segment combines rental and cleaning, manufacturing, corporate functions, and cleanroom solutions previously under Specialty Garments.
How does the First Aid & Safety Solutions segment differ now?
The segment was renamed to better represent its services, which now include first aid cabinet services and safety supplies.
Where can I find financial information related to these changes?
Recast supplemental unaudited financial information is available on UniFirst’s Investor Relations website for historical metrics pre and post changes.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$UNF Hedge Fund Activity
We have seen 153 institutional investors add shares of $UNF stock to their portfolio, and 150 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JONES FINANCIAL COMPANIES LLLP removed 307,079 shares (-99.9%) from their portfolio in Q2 2025, for an estimated $57,798,409
- VOSS CAPITAL, LP removed 163,962 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $30,860,927
- JPMORGAN CHASE & CO removed 147,569 shares (-49.2%) from their portfolio in Q2 2025, for an estimated $27,775,437
- M&G PLC removed 122,101 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $22,981,850
- COOPER CREEK PARTNERS MANAGEMENT LLC added 102,928 shares (+inf%) to their portfolio in Q2 2025, for an estimated $19,373,108
- FIRST TRUST ADVISORS LP added 90,751 shares (+90.0%) to their portfolio in Q2 2025, for an estimated $17,081,153
- NUVEEN, LLC added 74,139 shares (+159.6%) to their portfolio in Q2 2025, for an estimated $13,954,442
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$UNF Analyst Ratings
Wall Street analysts have issued reports on $UNF in the last several months. We have seen 0 firms issue buy ratings on the stock, and 1 firms issue sell ratings.
Here are some recent analyst ratings:
- JP Morgan issued a "Underweight" rating on 07/14/2025
To track analyst ratings and price targets for $UNF, check out Quiver Quantitative's $UNF forecast page.
$UNF Price Targets
Multiple analysts have issued price targets for $UNF recently. We have seen 2 analysts offer price targets for $UNF in the last 6 months, with a median target of $184.5.
Here are some recent targets:
- Andrew Steinerman from JP Morgan set a target price of $175.0 on 07/14/2025
- Joshua Chan from UBS set a target price of $194.0 on 07/03/2025
Full Release
WILMINGTON, Mass., Oct. 17, 2025 (GLOBE NEWSWIRE) -- Beginning with the fourth quarter and year ended August 30, 2025, UniFirst Corporation (the “Company,” “we,” or “our”) will be changing the structure of its reporting organization, which will result in corresponding changes to the Company’s financial operating and reportable segments.
Prior to this change, the Company had five reporting segments: U.S. and Canadian Rental and Cleaning, Manufacturing (“MFG”), Corporate, First Aid, and Specialty Garments Rental and Cleaning (“Specialty Garments”). We previously referred to our U.S. and Canadian Rental and Cleaning, MFG, and Corporate segments combined as our “Core Laundry Operations.”
Following this change, the Company will report results under three reportable segments as described below. Our new reporting structure reflects how the Company currently oversees and manages the business, assesses performance and allocates resources, and will plan to continue to do so going forward.
Uniform & Facility Service Solutions : This reporting segment consolidates the former U.S. and Canadian Rental and Cleaning, MFG and Corporate segments and now includes our cleanroom solutions, which was previously part of the Specialty Garments reporting segment. The Uniform & Facility Service Solutions reporting segment designs, manufactures, purchases, rents, cleans, delivers and sells, uniforms and protective clothing and non-garment items in the U.S. and Canada. The segment, through our cleanroom solutions, also purchases, rents, cleans, delivers and sells specialty garments and non-garment items primarily for cleanroom applications and provides cleanroom cleaning at limited customer locations. Additionally, Uniform & Facility Service Solutions consists of our distribution center, sales and marketing, information systems, engineering, materials management, manufacturing planning, finance, budgeting, human resources, other general and administrative costs and interest expense.
First Aid & Safety Solutions : We renamed our First Aid reporting segment as the First Aid & Safety Solutions reporting segment to better reflect the scope of services and products offered. The First Aid & Safety Solutions reporting segment sells first aid cabinet services, non-prescription medicines and safety supplies, and provides certain safety training.
Other : This reporting segment currently consists of our nuclear solutions, which was previously part of the Specialty Garments reporting segment with our cleanroom solutions. The segment purchases, rents, cleans, delivers and sells, specialty garments and non-garment items primarily for nuclear applications.
The following table summarizes the above-described modifications to our segments:
|
Previous Segments (Prior to May 31, 2025) |
Summary of Modifications |
Modified Segments (As of June 1, 2025) |
|
U.S. and Canadian Rental and
Cleaning* |
U.S. and Canadian Rental and Cleaning, Manufacturing, Corporate and cleanroom solutions (from Specialty Garments) were combined to form “Uniform & Facility Service Solutions” |
Uniform & Facility Service
Solutions |
| Manufacturing* | ||
| Corporate* | ||
| First Aid | Renamed “First Aid & Safety Solutions” with no changes to components | First Aid & Safety Solutions |
|
Specialty Garments Rental and
Cleaning |
Previously consisted of nuclear and cleanroom solutions.
Renamed to “Other” and modified to consist of nuclear operations. |
Other |
*Previously referred to collectively as our “Core Laundry Operations.”
The key measures used by management to evaluate segment performance continue to be revenues and operating income. These measures are consistent with how the Company’s Chief Executive Officer, who serves as the Chief Operating Decision Maker, reviews financial results to assess performance and allocate resources. Adjusted EBITDA is also presented for additional informational purposes and to facilitate period-to-period comparisons of operating performance; however, it is not a measure presented in accordance with U.S. GAAP.
To assist investors in understanding the impact of these changes, the Company has provided recast supplemental unaudited information containing seven quarters of historical financial and operational metrics (from the first quarter of fiscal 2024 through the third quarter of fiscal 2025) for the three reportable segments. The recast financial information is accessible through the News Releases section of the Company’s Investor Relations website at investors.unifirst.com.
The supplemental historical segment information does not represent a restatement or reissuance of previously issued financial statements and relates solely to changes in segment presentation. The modifications had no impact on the Company’s previously reported consolidated financial results.
About UniFirst Corporation
Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, facility service products, as well as first aid and safety supplies and services. Together with its subsidiaries, the Company also manages specialized garment programs for the cleanroom and nuclear industries. In addition to partnering with leading brands, UniFirst manufactures its own branded workwear, protective clothing, and floorcare products at its three company-owned ISO-9001-certified manufacturing facilities. With more than 270 service locations, over 300,000 customer locations, and 16,000-plus employee Team Partners, the Company outfits more than 2 million workers every day. For additional information, contact UniFirst at 888.296.2740 or visit UniFirst.com. Follow UniFirst on Social Media: LinkedIn, Facebook, X, YouTube, Instagram.
|
Unaudited and Pro Forma Estimated Recast of Prior Financial Information
Revenue, Operating Income and Adjusted EBITDA |
|||||||||||||||||||||||||||||||
|
Recast of Financial Information for First Three Quarters of Fiscal 2025, Four Quarters of Fiscal 2024 and Fiscal Year End 2024
Revenue, Operating Income and Adjusted EBITDA (Unaudited, in thousands of USD) |
|||||||||||||||||||||||||||||||
| Selected Financial Data (Unaudited) | |||||||||||||||||||||||||||||||
| Fiscal 2024 | Fiscal 2025 | ||||||||||||||||||||||||||||||
| Thirteen Weeks Ended |
Fourteen
Weeks Ended |
Year Ended | Thirteen Weeks Ended | ||||||||||||||||||||||||||||
| 11/25/2023 | 2/24/2024 | 5/25/2024 | 8/31/2024 | 8/31/2024 | 11/30/2025 | 3/1/2025 | 5/31/2025 | ||||||||||||||||||||||||
| Revenue | |||||||||||||||||||||||||||||||
| Uniform & Facility Service Solutions | $ | 544,928 | $ | 543,862 | $ | 549,218 | $ | 586,022 | $ | 2,224,030 | $ | 552,752 | $ | 551,407 | $ | 554,331 | |||||||||||||||
| First Aid & Safety Solutions | 24,867 | 24,829 | 27,292 | 29,283 | 106,271 | 26,222 | 27,454 | 29,787 | |||||||||||||||||||||||
| Other | 23,730 | 22,020 | 26,818 | 24,562 | 97,130 | 25,934 | 23,358 | 26,660 | |||||||||||||||||||||||
| Consolidated Revenues | $ | 593,525 | $ | 590,711 | $ | 603,328 | $ | 639,867 | $ | 2,427,431 | $ | 604,908 | $ | 602,219 | $ | 610,778 | |||||||||||||||
| Operating Income | |||||||||||||||||||||||||||||||
| Uniform & Facility Service Solutions | $ | 48,873 | $ | 25,942 | $ | 43,378 | $ | 50,834 | $ | 169,027 | $ | 48,520 | $ | 30,172 | $ | 43,243 | |||||||||||||||
| First Aid & Safety Solutions | (1,071 | ) | (1,004 | ) | 148 | 95 | (1,832 | ) | 341 | (486 | ) | 525 | |||||||||||||||||||
| Other | 5,335 | 3,005 | 4,924 | 3,119 | 16,383 | 6,670 | 1,528 | 4,409 | |||||||||||||||||||||||
| Consolidated Operating Income | $ | 53,137 | $ | 27,943 | $ | 48,450 | $ | 54,048 | $ | 183,578 | $ | 55,531 | $ | 31,214 | $ | 48,177 | |||||||||||||||
| Adjusted EBITDA Reconciliation | |||||||||||||||||||||||||||||||
| Net Income | $ | 42,325 | $ | 20,457 | $ | 38,057 | $ | 44,635 | $ | 145,474 | $ | 43,105 | $ | 24,459 | $ | 39,680 | |||||||||||||||
| Provision for income taxes | 12,930 | 7,261 | 11,277 | 12,437 | 43,905 | 14,831 | 8,174 | 13,715 | |||||||||||||||||||||||
| Interest income, net | (2,834 | ) | (350 | ) | (1,406 | ) | (2,652 | ) | (7,242 | ) | (2,695 | ) | (2,213 | ) | (2,514 | ) | |||||||||||||||
| Depreciation and amortization | 33,733 | 35,160 | 34,560 | 37,979 | 141,432 | 34,808 | 34,946 | 34,722 | |||||||||||||||||||||||
| Share-based compensation expense | 2,534 | 2,308 | 2,303 | 2,628 | 9,773 | 2,836 | 3,198 | 3,015 | |||||||||||||||||||||||
| Gain on the sale of properties | - | - | - | - | - | - | - | (2,792 | ) | ||||||||||||||||||||||
| Executive transaction costs | - | - | - | - | - | 1,075 | 354 | - | |||||||||||||||||||||||
| Consolidated Adjusted EBITDA | $ | 88,688 | $ | 64,836 | $ | 84,791 | $ | 95,027 | $ | 333,342 | $ | 93,960 | $ | 68,918 | $ | 85,826 | |||||||||||||||
| Uniform & Facility Service Solutions | |||||||||||||||||||||||||||||||
| Adjusted EBITDA Reconciliation | |||||||||||||||||||||||||||||||
| Net Income | $ | 50,992 | $ | 25,716 | $ | 44,262 | $ | 53,858 | $ | 174,828 | $ | 50,925 | $ | 31,591 | $ | 48,461 | |||||||||||||||
| Interest income, net | (2,834 | ) | (350 | ) | (1,406 | ) | (2,652 | ) | (7,242 | ) | (2,695 | ) | (2,213 | ) | (2,514 | ) | |||||||||||||||
| Depreciation and amortization | 32,228 | 33,424 | 32,965 | 36,214 | 134,831 | 33,110 | 33,234 | 32,990 | |||||||||||||||||||||||
| Share-based compensation expense | 2,389 | 2,154 | 2,177 | 2,473 | 9,193 | 2,688 | 3,028 | 2,858 | |||||||||||||||||||||||
| Gain on the sale of properties | - | - | - | - | - | - | - | (2,792 | ) | ||||||||||||||||||||||
| Executive transaction costs | - | - | - | - | - | 1,075 | 354 | - | |||||||||||||||||||||||
| Total Adjusted EBITDA | $ | 82,775 | $ | 60,944 | $ | 77,998 | $ | 89,893 | $ | 311,610 | $ | 85,103 | $ | 65,994 | $ | 79,003 | |||||||||||||||
| First Aid & Safety Solutions | |||||||||||||||||||||||||||||||
| Adjusted EBITDA Reconciliation | |||||||||||||||||||||||||||||||
| Net Income | $ | (1,072 | ) | $ | (1,003 | ) | $ | 148 | $ | 95 | $ | (1,832 | ) | $ | 341 | $ | (486 | ) | $ | 525 | |||||||||||
| Depreciation and amortization | 758 | 963 | 809 | 913 | 3,443 | 885 | 947 | 975 | |||||||||||||||||||||||
| Share-based compensation expense | 22 | 25 | 25 | 27 | 99 | 27 | 29 | 30 | |||||||||||||||||||||||
| Total Adjusted EBITDA | $ | (292 | ) | $ | (15 | ) | $ | 982 | $ | 1,035 | $ | 1,710 | $ | 1,253 | $ | 490 | $ | 1,530 | |||||||||||||
| Other | |||||||||||||||||||||||||||||||
| Adjusted EBITDA Reconciliation | |||||||||||||||||||||||||||||||
| Net Income | $ | 5,335 | $ | 3,005 | $ | 4,924 | $ | 3,119 | $ | 16,383 | $ | 6,670 | $ | 1,528 | $ | 4,409 | |||||||||||||||
| Depreciation and amortization | 747 | 773 | 786 | 852 | 3,158 | 813 | 765 | 757 | |||||||||||||||||||||||
| Share-based compensation expense | 123 | 129 | 101 | 128 | 481 | 121 | 141 | 127 | |||||||||||||||||||||||
| Total Adjusted EBITDA | $ | 6,205 | $ | 3,907 | $ | 5,811 | $ | 4,099 | $ | 20,022 | $ | 7,604 | $ | 2,434 | $ | 5,293 | |||||||||||||||
| Unallocated Adjustments* | |||||||||||||||||||||||||||||||
| Adjusted EBITDA Reconciliation | |||||||||||||||||||||||||||||||
| Net Income | $ | (12,930 | ) | $ | (7,261 | ) | $ | (11,277 | ) | $ | (12,437 | ) | $ | (43,905 | ) | $ | (14,831 | ) | $ | (8,174 | ) | $ | (13,715 | ) | |||||||
| Provision for income taxes | 12,930 | 7,261 | 11,277 | 12,437 | 43,905 | 14,831 | 8,174 | 13,715 | |||||||||||||||||||||||
| Total Adjusted EBITDA | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||
* Amounts reflected as “Unallocated Adjustments” represent corporate and other items that are not included within the reportable segments and net to zero in consolidation.
Investor Relations Contact
Shane O’Connor, Executive Vice President & CFO
UniFirst Corporation
978-658-8888
[email protected]