UNF - More on UniFirst FQ2 results

UniFirst ([[UNF]] +0.6%) reports FQ2 revenue decrease of 3.2% Y/Y to $449.8M, beating consensus by $2.5MRevenue breakdown: Core Laundry Operations $398.2M (-3.4% Y/Y), Specialty Garments $35.2M (-2.1% Y/Y), and First Aid $16.3M (-0.7%).FQ2 Operating margins: Total declined 50 bps to 9%; Core Laundry Operations declined 40 bps to 8.9%; First Aid declined 640 bps to 0.6% whereas Specialty Garments improved 200 bps to 14.9%.Cash, equivalents, and short-term investments totaled $509.6M and no long-term debt as of Feb. 27.As of Feb. 27, 2021, the Co. had repurchased a total of 368,117 shares of common stock for a total of $61.8M under the program.2021 Outlook: Expect revenues between $1.793B and 1.803B and EPS of $7.30-7.65."Our results were affected by the severe winter storms in Texas and the surrounding states during February and continued to be impacted by the COVID-19 pandemic." said Steven Sintros, President and CEO.Previously: UniFirst EPS beats by $0.04, beats on revenue (March 31)

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More on UniFirst FQ2 results