UniFirst Cuts FY17 EPS Outlook

(RTTNews) - UniFirst Corp. (UNF) said it now expects that full year 2017 earnings per share will be between $4.85 and $5.00, compared to prior outlook of $5.00 and $5.14 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $5.16 per share for fiscal year 2017. Analysts' estimates typically exclude special items.

The company continue to expect that fiscal 2017 revenues will be between $1.550 billion and $1.565 billion. Wall Street expect revenues of $1.56 billion.

Ronald Croatti, UniFirst President and Chief Executive Officer said "At this time, we continue to expect that our fiscal 2017 revenues will be between $1.550 billion and $1.565 billion. We now expect that our full year diluted EPS will be between $4.85 and $5.00. Although the year is unfolding mostly as anticipated, certain items, including worker's compensation claims and other operating expenses are trending higher. As a result, we are modifying our full year earnings expectations."