UniFirst not providing guidance for remainder of 2020 » 08:0307/0107/01/20
CEO Steven Sintros saidd,…
CEO Steven Sintros saidd, "As a result of the phased reopening of businesses in many states, our revenues have partially recovered from the lower levels experienced during the quarter. However, due to the evolving nature of the pandemic and its impact on our communities, we continue to believe that our ability to assess the financial impact on our business remains limited. As a result, we are not providing guidance for the remainder of our fiscal 2020. We believe that our strong balance sheet positions us well to weather this disruption and maintain focus on the care of our Team Partners, our customers and our communities."
UniFirst reports Q3 diluted EPS $1.12, consensus $1.25 » 08:0207/0107/01/20
Reports Q3 revenue…
Reports Q3 revenue $455.5M, consensus $381.67M. Steven Sintros, UniFirst President and CEO, said, "It goes without saying that the Company's focus in its third quarter centered around our pandemic response efforts, including our top priority of ensuring the safety of our Team Partners while continuing to provide our value-added services to the many essential businesses in our communities. I want to sincerely thank our Team Partners for the tremendous effort they put forth and continue to put forth ensuring that they are taking care of each other and our customers during these challenging times."
Fly Intel: Top five weekend stock stories » 19:5006/2806/28/20
CHK, SBUX, FB, TWTR, SNAP, DELL, VMW, BA, VFC, KEYS, NVDA, UNF, CRM, TXN, BBY, HPQ, TIF, APD
Catch up on the…
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Chesapeake (CHK) announced that the company has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas to facilitate a comprehensive balance sheet restructuring. Chesapeake intends to use the proceedings to strengthen its balance sheet and restructure its legacy contractual obligations to achieve a more sustainable capital structure. Chesapeake will operate in the ordinary course during the Chapter 11 process. 2. Starbucks (SBUX) told CNBC in a statement that it will pause advertising on "all social media platforms" and have discussions internally and with media partners and civil rights organizations to stop the spread of hate speech. The company will continue to post on social media without paid promotion, it said. Starbucks added, "We believe in bringing communities together, both in person and online, and we stand against hate speech. We believe more must be done to create welcoming and inclusive online communities, and we believe both business leaders and policy makers need to come together to affect real change." Publicly traded social media companies include Facebook (FB), Twitter (TWTR) and Snap (SNAP). 3. Dell Technologies (DELL) shares have looked tempting ever since they came public in 2018, and the reason is Dell's 81% stake in the cloud-software company VMware (VMW), which is worth more than Dell itself, Andrew Bary wrote in this week's edition of Barron's. Dell stock has appreciated little since it went public because of concerns about the future of the company's hardware business and uncertainty about whether investors would get their hands on those shares of VMware, the author noted. But now the chances of a VMware distribution to holders of Dell have now apparently increases, with the company considering a spinoff of its VMware stake, The Wall Street Journal reported. If Dell wants to escape its valuation purgatory, it needs to spin off VMware and maintain a close relationship with the company through a partnership agreement, Bary contended. Another bonus would be if Michael Dell agrees to turn his supervoting stock in Dell into regular stock, he added. 4. Boeing (BA) has received Federal Aviation Administration approval to start test flights of its 737 Max to demonstrate that it can fly safely with new flight control software, The New York Times' Niraj Chokshi and David Gelles reported. The flights could begin as soon as Monday and will probably take place in the Seattle area, the authors noted. If the flights are successful, it could still be months before the planes are deemed ready to fly again, the publication added. 5. V.F. Corp. (VFC), Keysight Technologies (KEYS), Nvidia (NVDA), UniFirst (UNF), Salesforce (CRM), Texas Instruments (TXN), Best Buy (BBY), HP (HPQ), Tiffany (TIF), and Air Products and Chemicals (APD) saw positive mentions in this week's edition of Barron's.
|Over a week ago|
Nvidia, HP among most sustainable names ranked on social criteria, Barron's says » 10:2306/2706/27/20
APD, TIF, HP, BBY, TXN, CRM, UNF, NVDA, VFC
Barron's has decided…
Barron's has decided to rank companies based solely on social criteria, with eight out of the 10 companies that rank highly on S factors in the technology and consumer-discretionary sectors, Evie Liu writes in this week's edition of Barron's. The publication's most sustainable companies rank on social factors include, from first to tenth place: V.F. Corp. (VFC), Keysight Technologies (KEYS), Nvidia (NVDA), UniFirst (UNF), Salesforce (CRM), Texas Instruments (TXN), Best Buy (BBY), HP (HPQ), Tiffany (TIF), and Air Products and Chemicals (APD). Reference Link
|Over a quarter ago|
UniFirst not providing guidance for remainder of 2020 » 08:0304/0104/01/20
CEO Steven Sintros…
CEO Steven Sintros continued, "Due to the evolving pandemic, our ability to assess the financial impact on our business remains limited. As a result, we are not providing guidance for the remainder of our fiscal 2020. Although we are not able to quantify, we expect the disruption related to this pandemic will clearly have a negative impact on our revenues and profitability. We also expect that if sustained for an extended period, the sharp decline in oil prices as well as the decline in the Canadian exchange rate will further challenge our performance. Our strong balance sheet positions us well to weather this disruption and maintain focus on the care of our Team Partners, our customers and our communities."
UniFirst reports Q2 diluted EPS $1.82, consensus $1.65 » 08:0204/0104/01/20
Reports Q2 revenue…
Reports Q2 revenue $464.6M, consensus $457.48M. Steven Sintros, UniFirst President and CEO, said, "We are pleased with the results of our second quarter which largely met our expectations and showed solid top and bottom-line growth. However, the Company's attention has now turned toward our pandemic response efforts. Our top priority is working to ensure the safety of our Team Partners while continuing to provide our value-added products and services to the many essential businesses that are keeping our communities safe and operating. I want to thank our Team Partners for their continued efforts as they demonstrate unwavering commitment and dedication."
UniFirst sees FY20 diluted EPS $7.60-$7.92, consensus $8.02 » 08:0401/0801/08/20
Sees revenue $1.86B-$1.872B, consensus $1.86. CEO Steven Sintros continued, "At this time, we believe that our revenues for fiscal 2020 will be between $1.860 billion and $1.872 billion and full year diluted earnings per share to be between $7.60 and $7.92. We have reduced the high end of our previously provided revenue outlook partially due to reduced business activity and wearer levels in the energy dependent markets that we service. This guidance does not assume any significant further deterioration in the energy sector or the overall economy. As a reminder, our fiscal 2020 will contain one less week compared to fiscal 2019."
UniFirst reports Q1 diluted EPS $2.52, consensus $2.01 » 08:0301/0801/08/20
Reports Q1 consolidated…
Reports Q1 consolidated revenues $465.4M, consensus $459.56M. Steven Sintros, UniFirst President and CEO, said, "We are pleased with the results of our first quarter which showed solid top and bottom line growth. As always, I would like to thank our thousands of employee Team Partners for their efforts as we continue to strive for profitable growth while providing the highest quality service to our customers."
UniFirst raises quarterly dividend to 25c per share » 08:0710/2310/23/19
UniFirst announced that…
UniFirst announced that it will be raising its quarterly dividend to 25c per share for Common Stock and to 20c per share for Class B Common Stock, up from 11.25c and 9c per share, respectively. This decision was reviewed and approved as part of the Board of Directors' ongoing evaluation of UniFirst's capital allocation strategy.
UniFirst sees FY20 diluted EPS $7.47-$7.92, consensus $8.27 » 08:0510/2310/23/19
CEO Steven Sintros…
CEO Steven Sintros continued, "At this time, we expect our fiscal 2020 revenues to be between $1.86B and $1.88B and full year diluted earnings per share to be between $7.47 and $7.92. As a reminder, our fiscal 2020 will contain one less week compared to fiscal 2019. As we look toward fiscal 2020, our guidance reflects our continued investments in our people, processes and technology, which will help us achieve our primary objective of being recognized as the top service provider in our industry." Revenue consensus $1.83B.