Unifirst CORP 10-Q Filing

FAQ

Key Financial Figures

• $0.10 — nge on which registered Common Stock, $0.10 par value per share UNF New York St

Filing Documents

• unf-20260228.htm (10-Q) — 3176KB
• unf-ex31_1.htm (EX-31.1) — 19KB
• unf-ex31_2.htm (EX-31.2) — 21KB
• unf-ex32_1.htm (EX-32.1) — 11KB
• unf-ex32_2.htm (EX-32.2) — 11KB
• img258066845_0.jpg (GRAPHIC) — 105KB
• 0001193125-26-144556.txt ( ) — 11541KB
• unf-20260228.xsd (EX-101.SCH) — 1053KB
• unf-20260228_htm.xml (XML) — 2408KB

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION 3

– Financial Statements (unaudited)

Item 1 – Financial Statements (unaudited) 3 Consolidated Statements of Income for the Thirteen and Twenty-Six Weeks ended February 28, 2026 and March 1, 2025 3 Consolidated Statements of Comprehensive Income for the Thirteen and Twenty-Six Weeks ended February 28, 2026 and March 1, 2025 4 Consolidated Balance Sheets as of February 28, 2026 and August 30, 2025 5 Consolidated Statements of Shareholders' Equity for the Thirteen and Twenty-Six Weeks ended February 28, 2026 and March 1, 2025 6 Consolidated Statements of Cash Flows for the Twenty-Six Weeks ended February 28, 2026 and March 1, 2025 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8

– Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 20

– Quantitative and Qualitative Disclosures About Market Risk

Item 3 – Quantitative and Qualitative Disclosures About Market Risk 29

– Controls and Procedures

Item 4 – Controls and Procedures 30

– OTHER INFORMATION

Part II – OTHER INFORMATION 32

– Legal Proceedings

Item 1 – Legal Proceedings 32

– Risk Factors

Item 1A – Risk Factors 32

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 36

– Defaults Upon Senior Securities

Item 3 – Defaults Upon Senior Securities 36

– Mine Safety Disclosures

Item 4 – Mine Safety Disclosures 36

– Other Information

Item 5 – Other Information 37

– Exhibits

Item 6 – Exhibits 37

Signatures

Signatures 38 Certifications Ex-31.1 Section 302 Certification of CEO Ex-31.2 Section 302 Certification of CFO Ex-32.1 Section 906 Certification of CEO Ex-32.2 Section 906 Certification of CFO 2

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION

FINANCI AL STATEMENTS

ITEM 1. FINANCI AL STATEMENTS Consolidated State ments of Income UniFirst Corporation and Subsidiaries (Unaudited) Thirteen Weeks Ended Twenty-Six Weeks Ended (In thousands, except per share data) February 28, 2026 March 1, 2025 February 28, 2026 March 1, 2025 Revenues $ 622,505 $ 602,219 $ 1,243,823 $ 1,207,127 Operating expenses: Cost of revenues (1) 403,686 394,145 796,715 775,199 Selling and administrative expenses (1) 157,413 141,914 305,219 275,429 Depreciation and amortization 35,392 34,946 70,567 69,754 Total operating expenses 596,491 571,005 1,172,501 1,120,382 Operating income 26,014 31,214 71,322 86,745 Other (income) expense: Interest income, net ( 1,576 ) ( 2,213 ) ( 3,505 ) ( 4,908 ) Other expense, net 250 794 509 1,084 Total other income, net ( 1,326 ) ( 1,419 ) ( 2,996 ) ( 3,824 ) Income before income taxes 27,340 32,633 74,318 90,569 Provision for income taxes 6,856 8,174 19,471 23,005 Net income $ 20,484 $ 24,459 $ 54,847 $ 67,564 Income per share – Basic: Common Stock $ 1.18 $ 1.37 $ 3.15 $ 3.78 Class B Common Stock $ 0.94 $ 1.10 $ 2.52 $ 3.02 Income per share – Diluted: Common Stock $ 1.13 $ 1.31 $ 3.02 $ 3.62 Income allocated to – Basic: Common Stock $ 17,133 $ 20,559 $ 45,887 $ 56,778 Class B Common Stock $ 3,351 $ 3,900 $ 8,960 $ 10,786 Income allocated to – Diluted: Common Stock $ 20,484 $ 24,459 $ 54,847 $ 67,564 Weighted average shares outstanding – Basic: Common Stock 14,523 15,009 14,557 15,011 Class B Common Stock 3,551 3,558 3,551 3,566 Weighted average shares outstanding – Diluted: Common Stock 18,143 18,649 18,159 18,653 (1) Exclusive of depreciation of the Company's property, plant and equipment and amortizatio

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 1. Summary of Significant Accounting Policies Basis of Presentation These Consolidated Financial Statements of UniFirst Corporation (the "Company") included herein have been prepared, without audit, in accordance with generally accepted accounting principles in the United States ("U.S. GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations; however, the Company believes that the information furnished reflects all adjustments (consisting only of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim period. It is suggested that these Consolidated Financial Statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended August 30, 2025 . There have been no material changes in the accounting policies followed by the Company during the current fiscal year. Results for an interim period are not indicative of results for any future interim periods or for an entire fiscal year. Merger Agreement On March 10, 2026, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Cintas Corporation ("Parent" or "Cintas"), Bruin Merger Sub I, Inc., a wholly owned subsidiary of Cintas ("Merger Sub Inc."), and Bruin Merger Sub II, LLC, a wholly owned subsidiary of Cintas ("Merger Sub LLC").

View Full Filing

View this 10-Q filing on SEC EDGAR