Vestis reports Q4 EPS (2c), consensus 13c

Reports Q4 revenue $684.3M, consensus $690.99M.”We ended the year with solid fourth quarter results that were in-line with our expectations for revenue and ahead of our expectations for Adjusted EBITDA,” said Kim Scott, President and CEO. Fourth quarter fiscal 2024 adjusted EBITDA margin declined by 400 basis points, which included an approximately 75 basis point impact from higher public company costs as compared to the prior year. The margin decline was primarily attributable to lower net volumes and lower pricing from the erosion of price increases that favorably impacted the fourth quarter of fiscal 2023. “As we move into 2025, I am excited about the commercial momentum that is building across Vestis (VSTS), the progress we are making executing against our efficient operations initiatives, and the way our organization has embraced our mission to deliver a best-in-class customer experience. As a result, we expect both revenue and Adjusted EBITDA to grow on an underlying basis in Fiscal 2025 as we continue to deliver against our strategic priorities.”