UniFirst Reports Worse-than-Expected Q1 EPS Drop

UniFirst, a provider of supply and servicing of uniform and workwear programs, reported a worse-than-expected Q1 earnings drop.

EPS fell to $1.38 in the period ended Nov. 26, from $1.78 in the year-ago period. That trailed the $1.57 average estimate of analysts polled by Capital IQ. Q1 revenue increased 3.4% to $386.1 million, also lagging behind the analyst consensus of $393.1 million.

Looking ahead, the company expected its fiscal 2017 revenue to be between $1.55 billion and $1.56 billion. Analysts expected $1.56 billion. The company projects full year EPS to be between $4.85 and $5.00. Analysts were looking for $5.16.