UniFirst Corporation (NYSE:UNF) Q2 2023 Earnings Conference Call March 29, 2023 9:00 AM ET

Company Participants

Steven Sintros - President and CEO

Shane O'Connor - EVP and CFO

Conference Call Participants

Andrew Steinerman - JP Morgan

Andy Wittmann - Baird

Sam Karlov - William Blair

Jack Boyle - Northcoast Research

Operator

Greetings, and welcome to the UniFirst Corp. Second Quarter Earnings Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to the President and CEO, Mr. Steven Sintros. Please go ahead.

Steven Sintros

Thank you, and good morning. I'm Steven Sintros, UniFirst 's President and Chief Executive Officer. Joining me today is Shane O'Connor, Executive Vice President and Chief Financial Officer. We would like to welcome you to UniFirst Corporation's conference call to review our second quarter results for fiscal year 2023. The call will be on a listen-only mode until we complete our prepared remarks, but first, a brief disclaimer.

This conference call may contain forward-looking statements that reflect the Company's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties. The words anticipate, optimistic, believe, estimate, expect, intend and similar expressions that indicate future events and trends identify forward-looking statements. Actual future results may differ materially from those anticipated depending on a variety of risk factors. For more information, please refer to the discussion of these factors – these risk factors in our most recent Form 10-K and 10-Q filings with the Securities and Exchange Commission.

We are pleased with our strong top-line performance in the quarter which was partially fueled by our ongoing efforts to mitigate the cost pressures that we’ve been experiencing in our business. As always, I want to thank our over 14,000 team partners who continue to always deliver for each other and our customers.

We are also pleased with the progress we are making advancing our technology and infrastructure initiatives. As we have discussed, we continue to be focused on making long-term investments in our business designed to accelerate growth and profitability, as well as ensure we are providing industry-leading services for years to come.

Consistent with the theme of making long-term investments, I am happy to announce that on March 13, we successfully closed our previously announced purchase of Clean Uniform and officially welcome the Clean team and their customers into the UniFirst family. Founded in 1938, and headquartered in St. Louis Missouri, Clean is one of the largest independent uniform workwear and facility service program providers in the United States with locations servicing Missouri, Illinois, Arkansas, Kansas and Oklahoma.