UniFirst Corporation (NYSE:UNF) Q4 2023 Earnings Call Transcript October 18, 2023 9:00 AM ET

Company Participants

Steven Sintros - President and Chief Executive Officer

Shane O'Connor - Executive Vice President and Chief Financial Officer

Conference Call Participants

Timothy Mulrooney - William Blair

Kartik Mehta - Northcoast Research

Andrew Wittmann - Robert W. Baird

Andrew Steinerman - JPMorgan

Joshua Chan - UBS

Operator

Greetings and welcome to the UniFirst Corporation's Fourth 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 Steven Sintros, President and Chief Executive Officer. Please go ahead.

Steven Sintros

Thank you, and good morning. I am 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 the UniFirst Corporation conference call to review our fourth quarter results for fiscal year 2023. This call will be on a listen-only mode until we complete our brief 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 risk factors in our most recent Form 10-K and 10-Q filings with the Securities and Exchange Commission.

I am pleased to report that, we closed the year with the fourth quarter that modestly exceeded our expectations in both top and bottom-line performance. We accomplished a lot as a team in fiscal 2023 that will help to strengthen our company as we move forward, growing our business, making strong progress in our technology transformation, and closing on our mid-year acquisition of Clean Uniform.

I want to sincerely thank all of our team partners who continue to always deliver for each other and our customers as we strive towards our vision of being universally recognized as the best service provider in the industry, all while living our mission of serving the people who do the hard work.

I want to take a couple of minutes to expand on fiscal year '23, what we accomplished as a company, and what we have in store moving forward. It comes as no surprise that, as we report our final 2023 results that we have continued the company's longstanding record of always growing our top line. Our full-year fiscal 2023 fiscal revenues increased 11.6% to $2.233 billion.