UniFirst Reports Fiscal Q3 Results Above Street

UniFirst, a provider of workplace uniforms, reported stronger-than-expected earnings and higher-than-estimated revenue for its fiscal Q3. EPS decreased 8.1% to $1.36 for the period ended May 27, but beat the $1.34 average estimate of analysts surveyed by Capital IQ.

Q3 revenue increased to $409.8 million, from $367.8 million, topping the analyst consensus of $396.1 million. Looking ahead, the company expects its FY17 EPS to range between $4.85 and $5.00, and FY17 revenue to range between $1.57 billion and $1.58 billion. Analysts are projecting EPS of $5.02 and revenues of $1.56 billion.

By Sonia Taylor