Vestis Corporation ( (VSTS) ) has released its Q1 earnings. Here is a breakdown of the information Vestis Corporation presented to its investors.
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Vestis Corporation, a prominent player in the B2B uniform and workplace supplies sector, continues to cater to a diverse clientele across North America, offering comprehensive services such as uniform rentals and managed restroom services.
The company recently announced its first-quarter results for fiscal year 2025, confirming that figures are aligned with expectations and reiterating its positive outlook for the year. Additionally, Vestis has announced key executive transitions in its finance and legal departments.
In the first quarter of 2025, Vestis reported revenue of $684 million and an operating income of $30 million, reflecting a sequential increase of 2% from the previous quarter. The adjusted EBITDA stood at $81 million, marking a slight sequential rise. Despite a decrease in net cash from operating activities due to timing issues, the company prepaid $20 million of its term loan debt, aiming to reduce leverage.
Vestis remains optimistic about its future, anticipating a milestone achievement in the second quarter with new volume surpassing customer losses. The company expects continued improvement throughout the year, supported by strategic pricing and cost-saving measures, aiming for double-digit EBITDA growth as it moves into fiscal 2026.
