MergerJul 8, 2026, 01:16 PM
UniFirst to Merge with Cintas; Q3 Net Income Down 49.9%
AI Summary
UniFirst Corporation announced a definitive Merger Agreement with Cintas Corporation, where UniFirst shareholders will receive $155.00 in cash and 0.7720 shares of Cintas common stock per share. While shareholders have approved the merger, it faces regulatory review with the FTC issuing a Second Request. For the third quarter ended May 30, 2026, UniFirst reported a 3.9% increase in revenues to $634.4 million, but net income significantly decreased by 49.9% to $19.9 million, resulting in diluted EPS of $1.09.
Key Highlights
- UniFirst entered a Merger Agreement with Cintas Corporation on March 10, 2026.
- Each share of UniFirst common stock will convert into $155.00 cash and 0.7720 shares of Cintas common stock.
- Shareholders approved the merger on June 11, 2026.
- FTC issued a Second Request for additional information, extending the waiting period.
- UniFirst Q3 2026 revenue increased to $634.4 million from $610.8 million (+3.9%).
- UniFirst Q3 2026 net income decreased to $19.9 million from $39.7 million (-49.9%).
- UniFirst Q3 2026 diluted EPS decreased to $1.09 from $2.13 (-48.8%).
- UniFirst declared Common Stock dividend of $0.365 per share and Class B Common Stock dividend of $0.292 per share.
Price Impact
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