Vestis backs FY24 revenue view up 4%-4.5%, consensus $2.94B

The company said, “The Company continues to expect to deliver revenue growth in the range of 4.0 to 4.5% through our focus on providing service excellence to our customers and delivering high-quality growth. We continue to expect our adjusted EBITDA margin to be approximately 14.3%, with approximately 50 to 60 basis points of margin expansion offsetting approximately $15 to $18 million in incremental public company costs in the period. Our strategic imperatives include disciplined capital allocation with deleveraging as a priority, and we continue to expect free cash flow conversion of net income to be at least 100%.”