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NEW YORK - Vestis Corporation (NYSE:VSTS), a provider of uniforms and workplace supplies, reported fourth quarter earnings on Friday that fell short of analyst expectations, while revenue also missed estimates.
Vestis reported adjusted earnings per share of $0.14 for the fourth quarter, missing the analyst consensus of $0.22 by $0.08. Revenue came in at $684 million, below the $724.72 million analysts were expecting and down 4.7% from $717.9 million in the same quarter last year.
Despite the earnings miss, CEO Kim Scott expressed optimism about the company’s momentum. "Our business continues to build momentum. In the second quarter, we expect to hit a significant milestone, with new volume outpacing customer losses driven by field sales productivity, national account wins, and lower customer churn," Scott stated.
For fiscal year 2025, Vestis reiterated its revenue guidance of $2.8 billion to $2.83 billion, in line with the analyst consensus of $2.83 billion. The company also maintained its adjusted EBITDA outlook of $345 million to $360 million.
Vestis announced executive changes, with CFO Rick Dillon departing on February 14, 2025. Kelly Janzen will take over as the new CFO, bringing over 25 years of financial leadership experience.
The company’s board declared a quarterly cash dividend of $0.035 per share, payable on March 18, 2025.
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