UniFirst sees 2023 adjusted EPS $7.10-$7.50, consensus $7.21

Sees 2023 revenue $2.145B-$2.16B, consensus $2.15B. CEO Steve Sintros continued, "At this time, we continue to expect our revenues for fiscal 2023 to be between $2.145 billion and $2.160 billion. We further continue to expect diluted earnings per share to be between $5.50 and $5.90. This outlook continues to assume: An estimate of $40.0 million of costs directly attributable to our Key Initiatives that will be expensed in fiscal 2023. Core Laundry Operations’ adjusted operating margin at the midpoint of the range of 8.1%. A GAAP and adjusted tax rate of 25.0%. Adjusted diluted earnings per share between $7.10 and $7.50. No impact from any future share buybacks or unexpected significantly adverse economic developments."