UniFirst Q4 EPS Falls to $1.90 on $14.4M Cintas Merger Costs; FTC Timing Pact Bars Close Before Dec 11

summarizeSummary

UniFirst posted Q4 revenue of $645.0M (+5.0%) but EPS fell to $1.90 from $2.23 on $14.4M of Cintas merger costs. The filing also discloses an FTC timing agreement barring the merger's close before December 11, 2026.

check_boxKey Events · Earnings and Guidance · UNF

• Q4 Revenue Up, Profit Down

  Revenue rose 5.0% to $645.0M, but operating income fell to $41.7M from $49.6M and diluted EPS dropped to $1.90 from $2.23.

• Merger Costs Weigh on Results

  Q4 carried $14.4M of Cintas transaction costs plus $2.8M of ERP costs, cutting EPS by $0.71. Full-year transaction costs were $37.2M, cutting full-year EPS by $2.08.

• FTC Timing Agreement Sets Floor

  UniFirst and Cintas agreed not to close before December 11, 2026 unless the FTC closes its investigation sooner; both certified substantial compliance with the Second Request on October 2, 2026.

• First Aid Segment Turns Negative

  First Aid & Safety revenue grew 13.0% to $35.2M but the segment posted a $1.5M operating loss as van-business investment continued.

auto_awesomeAnalysis · UNF · Trade & Services

UniFirst closed fiscal 2026 with fourth-quarter revenue up 5.0% to $645.0M, yet operating income slipped to $41.7M from $49.6M a year ago as $14.4M of Cintas merger costs and $2.8M of ERP spending weighed on the quarter. Full-year diluted EPS fell to $6.02 from $7.98, with $2.08 of that decline attributable to those two items. The more consequential disclosure is the merger clock: a timing agreement with the FTC bars closing before December 11, 2026 unless the agency closes its investigation early, while both parties say they still expect to complete the deal before year-end. With no guidance and no conference calls during the pendency of the deal, the regulatory calendar is now the only thing that moves this stock.