UNF - Earnings call 1 2024 | UniFirst Corporation

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Operator

Greetings, and welcome to the UniFirst Corporation First Quarter Earnings Call.

During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session.

I would now like to turn the conference over to Steven Sintros, President and Chief Executive Officer. Please go ahead.

Steven Sintros

morning. Good

first is like Vice UniFirst this to call but review brief today Financial and rations a call O'Connor, the first, complete to We'd for our a Officer. welcome our until will Shane be me XXXX. listen-only President Executive Chief conference fiscal on Joining year results mode And we quarter disclaimer. you remarks, to prepared

future believe, of The views forward-looking expressions events that statements. risk contain may factors. optimistic, depending statements reflect materially with forward-looking indicate identify events and forward-looking future respect anticipated current trends are differ may risks to financial and This to conference expect, estimate, Actual call statements from and intend the that variety These words future performance. a similar certain company's subject those events on and anticipate, uncertainties.

the information, filings our XX-K recent please Form refer more and For Committee. of Securities to in factors these most the Exchange XX-Q risk and discussion with

the work. recognized hard vision that The our industry keeps all people mission service do We we start to results are always our while each our solid workforce to being as the and fiscal continue I provider year. running. teams who partners represent new thank as of who other hard living who our of quarter, want people which of for and pleased best customers to the our of our strive a in our are first work towards do the communities deliver serving up with the all and the the

own prospective customers UniFirst existing of many team well as and So as are our our partners. them

facility them and and by those support providing providing clean products that and right uniforms, service that means job safely. services. successfully first to aid workwear, safety their other room services do and the is or mission to products Whether employees Our allow

structure that first in structure products the business the their X.X% XXXX. Our revenues to up to ensure have for were we first the their ensure customers is to to our and goal services quarter our we right and right Overall, compared of quarter partner with teams. program,

Profits the division. Aid acquisition Operations' of growth Laundry The March in in organic strong Safety X.X%. First and in quarter growth from of clean benefited initiatives. Core over our our XXXX was growth were of Consolidated uniform the top in compared XX% ago, driven quarter quarter cost the a by lower expended up and year growth to the key during line related largely the to

related as reminder, we As been years well over technology our costs of a have a rebranding as transformation last to expanding initiative. couple the

costs these down. expected, CRM As are the surrounding declining deployment our the winding as completion of as activities rebranding of to due our well largely

ERP We continue expend to project. dollars to related our

as enter we the implementation project, capitalized. being However, are more phases costs of

sales our operations. our the by was margin. a perspective account account outcome X of a in sales in by top at a the performance ago year new new healthy very driven Part addition this a from exceeding core strong, quarter from Our was this laundry time of

sell that to bring value continue on businesses. We can prospects UniFirst the their

currently right getting ago. price the one a did the we consultative as headwinds against less quarter more as we than progressed and although of performance were experience a the our still retention. the I is line are top for with from year in we tailwind Our areas we where, prominence Conversely, overall, mentioned, on products approach and customer our stable customers. creating programs levels And focus wearer right

within of well progresses. top line results quarter range items year as we the expect first our do expectations, pressure organic our these will were Although growth

all areas be a service affect of on also model, initiatives we our margin levels. be we will of our certainly don't 'XX adversely on fiscal costs to the the execute organization. critical, transformational beyond, customer improvement in managing ability growth or rest As we impact assuring look towards focus while while control Executing key will the and

we execution, margin many day-to-day on to addition are opportunities focused In in areas.

some We of continue of such of strategic proprietary UniFirst to Clean's work represent CRM, and leveraging our sourcing profitability opportunities. pricing areas well including significant all technology strategic optimize the across to as as use and new account manufacturing as

midterm. of forward move areas these our Although and to some feel can that enabled near will benefits we be on the implementation significantly in more the the these others continue ERP, we of going to through needle focus

to Our relationships. continuing well shows clean wins several recent joining with acquisition industry-leading UniFirst has perform the in This resigning long-term that service. customer base very continues customer receive confidence and to Clean's

Aid very the future current to first the believe to grew quarter which division, continue strongly and bright XX.X% in XXXX. quarter of compared First We Safety the of our in

these make well as new prospects products sales existing segment have need that services. service We this and and investments for a continue reach markets as infrastructure to our in footprint can ensure expand to strong and UniFirst of we the customers in

to of segment. density of provide addition full customers progress penetrating building increasing this we critical profitability we in breadth the be the that in As route steps services will with

enhancing company As operations natural the resources part, us the better social The a and nature enables. governance. environmental, progress to and to ours I always the model and has the rental of role as like and the solid economy's company as of our quarter, continues make recycler area do mentioned last allowed environmental industry the in and as given well of utilization our footprint, contributions

our the company efforts, convert example that to we LED going operating quarter, our is the of plants engaged to during laundries of a our and core remainder lighting. an As energy-efficient

will impact first and right a business. With on investments call impact remainder XXXX. our on focused who be positive have our that, the support the as outlook turn over provide for of to I'll environment, Shane, the to customers our continue well the details of meaningfully the as to We more making quarter

Shane O’Connor

increased $XX.X Steve. to from Net or income revenues to operating $XX.X the $XXX.X in were $XXX.X of million per million consolidated from EBITDA $X.XX quarter million prior share $XX The up Consolidated income year or and diluted the from first our or quarter $X.XX million ago increased year $XX.X $XX.X million or diluted million XX.X%. $XX.X In per Thanks, consolidated for million, a XXXX, million share. to XX.X%. increased to X.X% compared

million $XX results respectively, $X.X recognized quarter in $X.XX, Steve we and financial XXXX approximately and first the a fiscal income and dispute of costs tax income The as respectively. operating and effect Net a and million interest directly attributable the approximately these million EBITDA $X.XX discussed. of to and that on million, respectively. quarters fiscal $XX of the result million initiatives of $X.X included XXXX and decrease in resolve. by items quarter EPS XXXX by EPS of Our and $X.X XXXX to by income and able XXXX to of first favorably the first million, Net benefited from million, $X.X and income respectively, were $X.X of also key

organic million, that result with related improved X.X%. for business. as Operations growth pricing was and quarter were our last efforts solid we $XXX the to account first the Canadian the X.X% of new cost customers sales of in which share estimated for of revenues solid effect This increases Laundry Core the to Our well dollar, the as quarter fluctuations the primarily in acquisitions Laundry year Core over incurred the our rate the up XXXX. growth, from adjusts organic was

margins $XX.X million to X.X% from to costs and operating margin EBITDA and and decrease by in for key increased or EBITDA the $XX.X XXXX combined quarter margin related Core X.X% and initiatives were from recorded to XX.X%. Laundry we the respectively. the the Laundry or X.X%, Laundry Core million year The our quarter first to X% for XXXX incurred operating of XX% fiscal Operations prior Core segment segment's increased the and to

These costs impacted incurred have were related corporate and made by to XXXX, decreased lower the energy investments quarter last EBITDA down were to items offset costs year the and partially was in building from capabilities $XX.X these cleanroom Segment's increased XX.X%, and and the in our higher prior XX.X% costs over due Excluding of of result segment's X.X% we quarter, X.X% revenues million first year the services, by items, in growth merchandise during lower operating Garments specialized from of increase operating higher which the our in margins also we cleanroom operations. primarily or in $XX.X increased to from our decontamination slightly our from nuclear merchandise This operations. primarily XXXX. in delivers Revenues cleanroom million margin which segment, to costs. X.X%. products Specialty

profitability As due as results to we segment's can reactor as timing mentioned nuclear the outages well of this vary in and period past, and to from significantly seasonality period projects.

million First $XX.X to segment's Aid million prior or in revenues Our from increased XX.X%. $XX.X year

Steve and and short-term invest to discussed. Cash with debt to been first However, year position million. quarter. $XX.X business no the These the continue cash the operating of our of during investments $XX.X XX.X% or primarily reflect for this by end quarter First investments the million cash, that a van we sheet equivalents $X.X totaling in of to period we $XX.X million an solid continue capital increased had due continue fiscal improved and operating reflect to $XX.X financial results million and in Aid activities expenditures prior first balance the quarter, provided with have long-term from our loss million. profitability making in our segment to future we our At during

consolidated we an At opportunity fiscal for revenues update time, XXXX $X.XXX expect be $X.XXX like outlook. year provide I'd to continue between take to billion this full to billion. on and our our will this

latter recent However, range that operations the quarter, core we of likely. in lower the trends half laundry half our in this anticipate the is more due to of

be answer This our now earnings expect and to per to prepared you questions that any We remarks, be between have. continue $X.XX. we diluted might to $X.XX share would and concludes happy

Operator

from Instructions] the of question [Operator Patni Thank Our you. comes Manav Barclays. first with line

Unknown Analyst

please less what for This unpack I what to to, Year. Kennedy retention, based on from tailwind specifically please. stages that a alluded unpack lower and you that if if where the Could is in And could on quarter, anticipate to you from latter Manav. and customer played with of think out of driver Roni you price the the of further kind half levels. New detail, had also just you the what Happy regards guidance of in is headwinds the of guiding

Steven Sintros

half of more coming is so was is guidance any were of what to started commentary surprising, sort of And on we -- this a back those kind about impact the energy this us making expectations year is on that we early are little likely is year. think seeing of seeing. an Ronan, of based again, kind tweaking that the over had driver certainly somewhat cost, of we it of down price the off And of that of the type some maybe or quarter, bit and our Not all in end sensitivity. kind -- over Sure. year. the in. the of the lower the more more compared on projected the have some what But you into as moderating of that the course coming changes not

last during a customer ended I'll call our such, things of little of kind and compared but versus a year. to as we've the categorize trending maybe little were With that relatively of couple back we're net-net, over a additions. ago negative back being the certainly retention, as environment quarter and large where the impact year the way, the stable, those bit seeing have still respect year, being even up the work the it's turned to for A little that less some quarter. lower. an With had again, been half respect them somewhat the to but last of adds losses, year, them quarter. more about out in of half expectation I you the reductions, of recognized. in full it off over things to mentioned a of saw we way say talking compared over strategic the of a wouldn't We And I would

Unknown Analyst

remainder customers and of that's helpful. and of the And the the conversations then guidance within are with how That's demand could or characterization assessment for year? what I incorporated like your ask just for

Steven Sintros

looking in hearing imminent. today, often the we at of sort we the from that more not guide pickup customers, our don't that's that to them really if broader that, we're comment we I'm as that customers assume at in. deterioration That be see general, said, things a there In we Yes. environment build in being allowed sure we reductions our where make were don't

they this the I those little to us after that time year lot not cautious of holidays plan the more clear set hiring. things going think out with bit of the new as to holidays respect with a makes of their reporting out that for reductions. demand I tone unique people are there coming also hearing what But into start taking of one sort broad like is their year. a of calendar conversations year their not calls looks we're mean of get a and of kind customers become into somewhat

a that but So general, it's flags, time should of year. those anything tricky But a time little this caution. conversations bit in hearing some we're not major of raise having

Operator

comes question with Wittman next . the Baird Our from of Andy line ] [

Andrew J. Wittmann

the is holding Great. I closing do -- the attribute to be get ways. a -- quarters, guess shop? about to is is guess retention, retention? I a initiatives little in trying Steve. do little it guess pricing I more question how going to you're that doors, bit you first I customer I in are it customer thing somewhat. the it on Is first started wanted what Is that you've drill prior bit customers up other moderating talked the might

wasn't term okay and factors with heard term detail. not the the with elaborate to and the the in I guess I customers think but it you're account. price profitable going get You just you here, mean, wasn't -- with you on because retention okay I losses, try it could maybe used footing, that more means okay a that in strategic which

Steven Sintros

couple above, Sure. It's bit a accounts. all little those Andy. of strategic of the A of

environment impact of and decided of in the I When the sort sort to the months. pricing said retention. I they the the a accounts the in that I we way forward. last measure the retention, these believe question, -- where to at were is first do at day, looking factor, least have instance XX measure over we think at do all-in we answer end I should an we're move of of my not

think that saying in get more have would you ago, from it or the if strong the that than otherwise do that been not But all we be period it makes an inflation through I lose And customers, sense. if priced lose so a as of account. necessarily reason you that trying to were that do account, higher year that's may

way sell lose Often And it and an do the inflation. could that -- falling our particularly account accounts so I think those new pricing account, of are account an profile. we've talked about it's before, are numbers and been for when longer, I've some have had of impact don't the of sort be you likely -- a with an through same out a higher you pricing you've similar they has pricing, period in going another. this

overestimate that think part not that I been I'm is has it. look, environment always price difference The part significant it. a a it, sure of not of So somewhat to there's And but competitive regard. in

or inflation, impact. more to to bid, working my bid put of likely that's environment some through out I I want think more out people to had bit to and it's a little the maybe say, hey, and go pricing account

not seen and being terms like that. some able to pay customers We some by have things

seen we've an track of the metrics retention. think as our we most part I in of increase

little that bit. So hopefully, helps a

Andrew J. Wittmann

this given Appreciate that the it a headwind to year-over-year that color impact quarter. when merchandise merchandise for I can could compares it that. dig it's It next, has upcoming flip your here? quarter. merchandise costs quarter, I quantify costs about talk And about ask on every costs. quarters. reasonable But guess one be in to just while. maybe costs feel maybe positively? a going I guess almost merchandise you this of you flipping like again but were think the now positive wanted I've -- margins the guess we're been seems been thinking I to this asking on I few to wasn't into

Shane O’Connor

can I Yes, do that.

basis merchandise XX adjusted our been reduced merchandise So coming the expectations that coming like was sort when as that said be going talk to year, years about of previous greatly the levels a our couple from we for we to XX our we Obviously, pandemic. out seeing headwind of costs what were the was into headwind. merchandise have of point had

haven't that to it's relatively XX time, XX We At in in At and the characterize was XXXX. that, to merchandise any headwind or a only flattening. to be going remainder our going is in still to It to at the benefit basis a point have with it's relatively of as merchandise or maturity XX this basis a throughout headwind. this the that's we points. point given sort our from bit expectation going an don't quarter. we're guidance just time, expect where going be expectation in headwind. that It see, we're of moderate flip the point a merchandise. a assumption headwind would we We merchandise was become of that little flat of that included our is That's

Andrew J. Wittmann

That's -- ahead, Okay. then go Steve. helpful. And yes,

Steven Sintros

we No, to talking well. major of that not I in quarter, and large thing I a item, did there, the add but account course is time. until about cause given added it relatively at just -- kind big is with merchandise And kind this amortized will a mention being flat, this going headwind that that one merchandise it's account as we're infusion item of a caused of year a next over year has and off falls this of an that

there in factor well. a that's as So

Andrew J. Wittmann

That Yes. sense. makes

Okay.

I of couple Just questions a technical guess. here,

the there of of amount there initiatives, any was other to some the change? or Is factors. Just key change costs any

have you as same gave release level detail initial press when you your talking in quarter of quarter last This your did outlook, your you the about didn't guidance.

the rates, quarter. detailed the previously, not other to if other things assumptions was we're margin just specifically there's but initiative costs, I you changes reiterated this key here, any that And wondering maybe

Shane O’Connor

continues reasons or one the that additional didn't somewhat in which Yes. My be Tax we is guidance. this It why expectation included continues initiative guidance detail about rate would to my it maintaining point be what's time. of from $XX expectations model in Largely, to been XX%. in maintaining at my the have costs. we're the Largely, for the include million because worth of the redundant. we're year

half opposite laundry the things the there, on seen in to to going form expectation some when was point I this within notably had we X.X%. the would recent in basis the was the at yes, in based that guidance, at things going half. risk margins. on impact core of growth provided we -- that That expect the range, the in energy. X.X% organic relates of fuel based my at are direction, now revenue XX it I have prices, my of energy of points commentary pressure But the As is about fluctuations be to point some be latter to probably lower XX about most have time, my of year for this in revenues in guided Previously, that or time will

to some maybe pressure related So our able offset revenue the going trends. to expectation of that, be is that's the

Andrew J. Wittmann

sneak super to is I'm X other This all right. in helpful. All going one, sorry.

interest following implicit that that caused or I'm don't the in Just there know, cash line, -- was on what they were the that had was on like this is, it on was settled. I million taxes -- here. like Was Shane, Is recognize you to expense that a interest as that tax income that, on you the $X.X quarter. comment that the dispute like

us. tell You

Shane O’Connor

that. exactly right. related of was to tax there an ongoing favorable we that's result resolution, dispute certain interest as No, a a received the

quarter. that So we in the to were recognize able

Steven Sintros

on a going been for long time. It's

Andrew J. Wittmann

filings, think in I is with that's disclosed [ been the it one was. ]government, This your Westin presumably

Steven Sintros

benefit but one disclosed to rates tax able was it interest. still they owe unrelated X maybe when Interestingly the there you that to. actually resolved, ago, sort getting you the recoup therefore, This that interest disproportionately able X when related I to to filing. No. or one of Usually, was punitive are we you other in have separate you're disputes, from years is one know, a Mexico, don't and more those money those But enough, money back, and and to out be we higher were somewhat pending. was the

So -- in the that experience our was quarter.

Operator

next of Josh the Our with UBS. question comes Chan line from

Unknown Analyst

specifically? wondering if or what the the the kind Year. conclusions walking wondering New losses there's that can I accounts you large you to was of Happy I accounts from, away that was guess, losing causing and winning that versus win what's draw Shane, you're I from you're accounts the what's any causing -- large

Steven Sintros

Great procedures, that provides on question. proposition, our we if day, haven't products end for the service alluded we sell those of into our sort sell in value I the Yes. customers. right process, like want, right mean to -- go execute of program the account, as with sell the to at at our ability times, an accounts for them We they our the they sell feel I opportunity. been on those receiving it the

the mean, when goes into lose a same all fall I category Again, doesn't just, if of one it quite business. an we piece you frankly, account. lose

be like local if we've it sometimes can driver Sometimes turnover. it's I of more strategic, had execution the by route lack mentioned,

can account going it out and struggle bid to get sometimes that we is offer, an and competitive a match And offer. very to that be they

and talk to it's provider continuing recognized showing be So customers. that as value. I it's for on the the those we service both going our as to provide selling about consistent it's best sides, that's vision, It's be can really execution, service our

both a is it's on bit a sides. know the I the So in of devil execution but little generic answer,

Unknown Analyst

And bit be was lot Specialty a things would nuclear because if makes a up impression under of the I guess That Yes. the little follow I dynamic. weaker what this I that of on you sense. than then showed can the segment. quarter,

if year quarter. the strength guided the you just wondering had little on could previously just stronger be what based full a So than I was this

Steven Sintros

necessarily of of in and rest first true. of There the that bit. off was year now some the some clean to year little of it things to We where subsegments, the show full and [indiscernible] expect first right quarter. the X ahead of probably segment bit in think as to somewhat the a Again, have sort not were sort drop quarter a I the We the still before. nuclear. that is some made strength the that is replicate up onetime the room do

very of slowdown to continues room kind on about do clean reduction nuclear expect customers. And business talked Canadian we the as with The consistent. some our be based earnings our in some last we in call, of

expect So that But now the year's the full we right does what in guided, ahead segment have still a of bit we trend. had model, little last profitability. that year but still below

Operator

Our Maloney from William next question comes the of with Blair. line Tim

Unknown Analyst

McCann This is Lu for Tim. on

So in to nice fiscal still consecutive expect your had First has cadence that of through a Should how think year-end? positive to year. Aid inflect the about for we as business move start And fiscal by see the well now. profitability XXXX. profitability should performed the we quarters business we several

Steven Sintros

the we Yes. think year, Look, division for full that could around the breakeven. be

this course I at of do our it's geographic still in where point or over more coverage. the little our expanding -- offerings, breadth or profitability pickup investment We're of we the in year. of service offerings and a the a expect in that bit say, division should our So about

out has year, year breakeven. more to filling products with and our customers us of filling water services, the in But will course and start around that turn starting that the sort guidance for the out routes we're treading profitability. full on most really the the we next it density, for And the years, of part, focus to starting over are and couple the of more this the with

Unknown Analyst

if of early then a Very up follow-up showing are more. looking Great. have particularly today. just with you you're going bit there know as I markets been kind any follow maybe at just weakness year conversations helpful. strength that I end that, as a one on outside or just of customers. But to provided of can with are color your how And them

Steven Sintros

I wouldn't say No, so.

as energy that the had up. kind I as pretty we're there particular and across oil jump no, noting. industry-driven couple where is a been say at any think we've worth that of country, seeing in the I continues to metrics watching something years I've sector, trends out aren't that and particular levels be long pockets we hold solid or decent really any prices that as look But geographic wouldn't are of

Operator

with from Our Andrew the line next question JPMorgan. Steinerman of comes

Andrew Steinerman

I confirm when XX point the just just to is clear, for revenues but half not I of that the want that's the you range, confirm just lower to I think to pretty that something for in think I and want guide, EPS.

margin quarter outlook? and and to benefit I point through the terms think XXX is you ] want kind I update the that [ interest in for of on whole progress still you range. that. us to are for what embedding what you're also to confirm pointing the in you kind the of wanted margin could assuming of you're EPS, really 'XX could I But just given what first imagine like gives you year in what confidence

Shane O’Connor

Yes.

ask the first sorry. actually. the Can I'm question Yes. of So, again? part you

Andrew Steinerman

Okay.

So it's a multipart question.

Sorry.

for say revenues I and of one, half, range the the pointed think confirm, I about lower In think EPS. a other whole comment want comment just guide, for range. revenues not I So when talking lower you when EPS, to words, the to you half for first a for point just that's you're and still you're to the the

Shane O’Connor

Yes.

Sorry comments related. lower about just that's half line that. No, the correct. top is about The

range an first about income full first It still perspective. from benefited We take pointing From perspective, quarter. my in interest a look million from the the to largely in quarter. $X.X an at you EPS are the interest

million that, $X.X of about the expectation sort $X worth million, interest I'll is realize Subsequent be that so income of to interest QX's of that my income, per quarter. run exclusive rate

Steven Sintros

where your of think alluded given there our last unlike back we margin with confidence here the all across comment of the base. been I part our general, was deviation of year to question, that, saying -- look the I'd to extent that second on when the outlook one lot across we've seeing and But is in the a seeing to I it was the Shane sort to in more Andrew, some what kind were of think And increases the which make years rest couple -- of respect cost you everything costs, is of we're to merchandise. alluding

We stabilization there, more are seeing right?

Obviously, merchandise read through those with inflation. quarters is lot of certainly environment, challenging couple -- as over and retreated, not a a confidence out staffing the in higher of talked that what helpful labor doesn't on. it's but in. a perspective, And modeled we've terms in as consistent It's from of big the piece a item few That challenging past well is wages that. so Shane in but pressure than which mean them of years labor we're still a have costs energy were there. on next as we going the you about when

Operator

[Operator Instructions] Kartik the with question Research. Mehta of line comes Northcoast next from Our

Kartik Mehta

Thank you how extending customers of look about in customers? talked you've what's assess feel how happening about customers, at payments. those overall your their Steve, you some But health And viability. if ops would changes? ongoing of at you terms Any maybe just -- maybe ad do you and the

Steven Sintros

viability at and there's we look base, No, financial any across weakening sort customer look we we of that. I how wouldn't say our that of when overall think that

stable in think So no, that I area.

the of their so forth more around just given my for as normal and look the was and over caution growth I a environment and year. course we the their so probably of amount outlooks commentary think businesses on

Kartik Mehta

the for of rest fuel of where -- they kind effect? dynamics talked the because surcharges still maybe of you've obviously, energy, those of pricing fuel about? some surges prices the surcharges in were that year, previously, stay that Or you assuming know in I is benefiting part And are. are put And hopefully some to able you things Shane, of talked you about,

Steven Sintros

on point of and the Steve. some pricing amount price general at of this account increase is year of So did price step in the pressure, in on does the new sort put surcharge, not pushing which and so a some at things. back but scheme relatively lower surcharge on. a smaller that Right grand just I customers is a we're holding last schedule this We at. do sort back We energy take think energy looking even. point. of we're now, sort that have

yes, prices think, price. lower true say I pressure So part is would that what indirectly, the energy the saying I of, on you're is

Kartik Mehta

And And or environment in year, I and if wondering in you've of be any or not going you're people you've maybe to then last inquisitive been one last might what terms at acquisitions. change looked know willing least pricing I'm question. the at do? seeing

Steven Sintros

wouldn't little over real the look last any which mean and larger you was deal say of if I years, I number from clean, change. I aside bit a of kind a to of test industry handful small be happened that X of and larger the the continues over a last of in waters. number emerge a kind There years. people of deals that's potential the think

And so and continues. -- I really that think

by of I be the to true. planning that driven their succession and sellers and continue think dynamics, and be industry continues to sort this family planning in

quality that of gone think I said we feel think our warrants the that. have up. in either the business geographies we that sense for be multiples before, will I've deals And the or aggressive make we us as really for strategic in

So changed last really over of I couple that hasn't would years. much say the

Operator

are [Operator call turn at you. further time. Instructions] back the I questions There will to this no

Steven Sintros

again to you, great everyone our March with Happy quarter results like joining to look be our have New expect quarter forward reporting Thank everybody for review I'd us when day. speaking in Great. we to thank Year. second and today to performance. and we a first

Operator

your conference conclude that the for you We thank today. call ask your does and for line. you please participation That disconnect

UniFirst (UNF) 3 Jan 242024 Q1 Earnings call transcript