Vestis Turns To Q4 Loss, Revenue Declines

Vestis Corporation Registered Shs When-Issued

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Kaufen / Verkaufen

(RTTNews) - Vestis Corporation (VSTS), a provider of uniforms and workplace supplies, Thursday reported a loss of $2.29 million or $0.02 per share for the fourth quarter, compared with a profit of 93.97 million or $0.72 per share in the same quarter a year ago, primarily impacted by decline in revenue as well as an interest expense of $29.85 million.

In the previous-year quarter, the company had recorded a gain on sale of equity investment of $51.83 million.

Excluding one-time items, earnings were $14.5 million or $0.11 per share, that missed the analysts' average estimate of $0.13 per share. Analysts' estimates typically exclude special items.

Operating income declined 48.4 percent to $29.8 million from $57.8 million last year.

Revenue for the quarter dropped 4.4 percent to $684.28 million from $715.90 million in the previous year. The consensus estimate was for $690.99 million.

The company's Board has declared a quarterly dividend of $0.035 per share, payable on January 6, to shareholders of record on December 13.

Looking ahead, Vestis expects fiscal 2025 revenue to be in the range of $2.8 billion - $2.83 billion. The Street is looking for revenue for $2.84 billion for the year.