UniFirst Q3 Earnings Up, Lifts Full-Year EPS Outlook - Quick Facts

(RTTNews) - Uniform rental firm UniFirst Wednesday reported third-quarter earnings that increased on the back of higher revenues. The company also raised its annual earnings outlook.

For the three months to May, net earnings grew to $30.94 million or $1.53 per share, from $28.72 million or $1.43 per share a year earlier.

On average, seven analysts polled by Thomson-Reuters estimated the company's earnings to be $1.42 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenues advanced by 4.9 percent to $352.2 million from $335.8 million in the same period last year. Analysts expected revenues of $349.24 million.

The company raised its earnings guidance to $5.70 to $5.85 per share from $5.60 to $5.75 per share previously projected. In addition, the company raised its revenues outlook slightly to $1.382 billion to $1.387 billion from $1.372 billion to $1.385 billion previously projected.

Analysts are expecting earnings of $5.71 per share on revenues of $1.38 billion for the company's fiscal year ended August 2014.