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Unifirst Corporation Reiterates FY24 Outlook: Sees Revenues Of $2.415B-$2.425B, Projects EPS Of $7.17-$7.49

Benzinga ·  Jun 26 20:10

The outlook for fiscal 2024 includes one extra week of operations compared to fiscal 2023 due to the timing of our fiscal quarter, and assumes:

  • Core Laundry Operations' organic growth at the midpoint of the range of 4.5%.
  • Core Laundry Operations' operating and EBITDA margins at the midpoint of the range of 6.6% and 12.7%, respectively.
  • An estimate of $12.0 million of costs directly attributable to our Key Initiatives that will be expensed in fiscal 2024 and will decrease both the Core Laundry Operations' operating and EBITDA margins by 0.6%.
  • An effective tax rate of 24.5%.
  • No impact from any future share buybacks or unexpected significantly adverse economic developments.
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