UniFirst Expects FY23 Revenue $2.22B-$2.23B (prior view $2.210B - $2.220B) Vs. $2.22B Estimate; Sees EPS $5.02-$5.37 Vs. $7.13 Estimate
Portfolio Pulse from Benzinga Newsdesk
UniFirst has updated its fiscal 2023 revenue forecast to between $2.22 billion and $2.23 billion, up from the previous estimate of $2.21 billion to $2.22 billion. This is primarily due to strong performance in the Specialty Garments' business. However, the company's EPS is expected to be between $5.02 and $5.37, lower than the previous estimate of $7.13.
June 28, 2023 | 12:12 pm
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NEUTRAL IMPACT
UniFirst's updated FY23 revenue forecast is higher than previously expected, primarily due to strong performance in the Specialty Garments' business. However, the EPS is expected to be lower than the previous estimate.
The news is directly about UniFirst's financial outlook. The increased revenue forecast could be positive for the stock as it indicates strong business performance. However, the lower EPS estimate could negatively impact the stock as it suggests lower profitability. The net impact is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100