10:45 AM EDT, 07/02/2025 (MT Newswires) -- UniFirst ( UNF ) raised its full-year earnings outlook on Wednesday, while sticking with its revenue guidance as the uniform rental company's third-quarter results rose year over year.

For fiscal 2025, the company now expects per-share earnings of $7.60 to $8, compared with its prior forecast of $7.30 to $7.70. The consensus estimate on FactSet is for GAAP EPS of $7.35. It continues to anticipate revenue between $2.42 billion to $2.43 billion.

The updated outlook reflects a revised assumption for key initiative costs of about $7.5 million, down from $12 million previously expected, Chief Executive Steven Sintros said. UniFirst ( UNF ) refers to its customer relationship management and enterprise resource planning projects as key initiatives.

The guidance doesn't assume share buybacks or "unforeseen economic events," the company said.

For the three months ended May 31, EPS rose to $2.13 from $2.03 a year earlier. Revenue increased 1.2% to $610.8 million.

The company said its key initiative costs reduced third-quarter EPS by $0.04. In addition, "pricing environment that continues to be challenging as well as some incremental softness in our customer wear levels, has limited our ability to build more top-line momentum," Sintros said at an earnings call, according to a FactSet transcript.

Shares of UniFirst ( UNF ) were down 4.1% intraday.

Revenue from the core laundry operations improved 0.9% to $533.2 million, while the specialty garments segment contributed $47.8 million, up 0.5% year on year.

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