MergerJul 1, 2026, 08:02 AM
UniFirst Q3 Revenue $634.4M; Merger with Cintas Progresses, FTC Review Ongoing
AI Summary
UniFirst Corporation reported Q3 fiscal 2026 revenues of $634.4 million, a 3.9% increase, but net income fell to $19.9 million and diluted EPS dropped to $1.09, largely due to $20.7 million in merger-related costs. Shareholders have approved the proposed merger with Cintas Corporation, where UniFirst shareholders will receive $155.00 in cash and 0.7720 shares of Cintas stock per share. The Federal Trade Commission has issued a Second Request for additional information, and the companies are cooperating, with the transaction expected to close in the second half of calendar 2026.
Key Highlights
- Shareholders approved the merger with Cintas; FTC issued a Second Request for additional information.
- Q3 2026 revenues increased 3.9% to $634.4 million compared to $610.8 million in prior year.
- Net income decreased to $19.9 million from $39.7 million in the prior year period.
- Diluted earnings per share fell to $1.09 compared to $2.13 in the prior year period.
- Q3 results included approximately $20.7 million of costs associated with the proposed merger.
- Uniform & Facility Service Solutions segment revenues increased 3.9% to $575.7 million.
- Operating income was $23.0 million, down from $48.2 million in Q3 2025.
- Adjusted EBITDA was $82.6 million, down from $85.8 million in Q3 2025.
Price Impact
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