UNF earnings analysis
What we found in UNF's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
UniFirst reported Q3 2026 revenue of $634.4 million, up 3.9% year-over-year, alongside an EPS of $2.17, beating estimates. The company continues to face challenges with declining operating margins, primarily due to significant transaction costs related to its pending merger with Cintas, which are impacting overall profitability.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Total revenue rose to $634.4 million, a 3.9% increase from $610.8 million in the same quarter last year.
- EPS Beats Estimates
- Reported EPS of $2.17 exceeded estimates of $1.91, showing a positive surprise of 13.61%.
- Segment Growth in First Aid & Safety
- First Aid & Safety Solutions segment revenue increased by 10.0% year-over-year.
- Stable Cash from Operations
- Cash provided by operating activities was $139.4 million, although it's down 29.1% from the previous year.
- ERP Investment Continues
- Capital expenditures for ERP enhancements totaled $107 million, continuing investment in technology for operational efficiency.
- Diverse Revenue Sources
- Uniform & Facility Service Solutions grew 3.9%, contributing significantly to overall revenue.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- High Transaction Costs from Merger
- The company incurred $20.7 million in transaction-related costs associated with the Cintas merger, impacting profitability.
- Declining Operating Margins
- Operating income margin dropped to 3.6%, down from 7.9%, indicating potential operational inefficiencies.
- Cash Reserves Decrease
- Cash and cash equivalents decreased by $40.3 million from $209.2 million, signaling liquidity pressures.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.17
- Gross margin
- 35.2%
- Operating margin
- 3.6%
- Segment
- Uniform & Facility Service Solutions: $575.7M
- Segment
- First Aid & Safety Solutions: $30.8M
- Segment
- Other: $27.8M
What they said about what is next.
Not providing explicit guidance due to pending merger with Cintas.
The filing reads worse than the one before it.
What came before.
- 10-Q · April 7, 2026
- UniFirst reported Q2 revenue of $622.5M, up $20.3M (3.4%) versus prior-year quarter, while operating income fell to $26.0M (from $31.2M) and diluted EPS declined to $1.13 (from $1.31). Cash and cash equivalents…
- 10-Q · January 7, 2026
- UniFirst reported revenues of $621,318,000 for the thirteen weeks ended November 29, 2025, up $16,410,000 (+2.7%) versus the year-ago quarter but with margin and EPS pressure. Gross margin was ~36.7% and operating…
- 10-K · October 29, 2025
- UniFirst positions itself as a scale-driven provider of uniform, facility and safety services, emphasizing in-house manufacturing (approximately 62% of garments in fiscal 2025) and long-term contract programs (typically…
- 10-K · November 14, 2024
- UniFirst positions itself as a vertically integrated provider of uniform rental, facility services and safety supplies, emphasizing in-house design and manufacture ("During the fiscal year ended August 31, 2024, we…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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