What happened
UniFirst Corporation (NYSE: UNF) reported fourth-quarter and fiscal 2026 results on October 21, 2026. Quarterly revenue rose 5.0% to $645.0 million. Full-year revenue rose 3.7% to $2.52 billion.
Fourth-quarter operating income fell to $41.7 million from $49.6 million. Adjusted EBITDA rose to $94.9 million from $88.1 million. Net income fell to $34.7 million from $41.0 million, and diluted EPS was $1.90, down from $2.23.
The operating margin was 6.5% of revenue, down from 8.1% a year earlier. Adjusted EBITDA margin was 14.7%, up from 14.3%. The company said the quarter included about $14.4 million of costs tied to the proposed merger with Cintas Corporation and about $2.8 million of enterprise resource planning project costs.
Uniform Facility Service Solutions revenue rose 4.5% to $585.4 million, and organic growth was 4.6%. The filing said new customer account acquisitions were solid and customer retention improved.
Key numbers
| Metric | Latest | Change | Source |
|---|---|---|---|
| Fourth-quarter revenue | $645.0 million | from $614.45 million, +5.0% | SEC 8-K earnings release |
| Fourth-quarter operating income | $41.7 million | from $49.6 million, -15.9% | SEC 8-K earnings release |
| Fourth-quarter net income | $34.7 million | from $41.0 million, -15.4% | SEC 8-K earnings release |
| Fiscal 2026 revenue | $2.52 billion | from $2.43 billion, +3.7% | SEC 8-K earnings release |
| Fiscal 2026 operating income | $136.0 million | from $184.5 million, -26.3% | SEC 8-K earnings release |
| Fiscal 2026 net income | $109.5 million | from $148.3 million, -26.2% | SEC 8-K earnings release |
Read more: UniFirst (UNF) stock analysis and investment case
Why it matters
OptimistFi's case is that UniFirst needs demand to speed up again without giving back recent margin gains. This filing is mixed because the core segment still grew organically, but fiscal 2026 profit was held back by merger and enterprise resource planning costs.
By OptimistFi's calculation, full-year operating income fell 26.3% to $136.0 million from $184.5 million. The lower quarterly margin also shows that recent margin recovery still faces pressure, even with the quarter's stronger adjusted EBITDA margin.
Cash and cash equivalents were $192.1 million. UniFirst had no long-term debt outstanding at August 29, 2026. During fiscal 2026, the company paid $25.2 million in dividends and repurchased 194,100 shares for about $31.7 million.
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What's next
On October 2, UniFirst and Cintas agreed not to consummate the deal before December 11, 2026 unless the FTC closes its investigation earlier. The transaction is expected to close before the end of calendar year 2026, subject to customary closing conditions and required regulatory approvals.
If the deal closes on time, the merger story stays on track. If it slips, investors will focus more on standalone revenue and margin trends.
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Sources
- SEC press release, Exhibit 99 — UniFirst announces financial results for the fourth quarter and full year of fiscal 2026
- SEC Form 8-K — Current report dated October 21, 2026
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Originally published on OptimistFi, evidence-first equity research. More at optimistfi.com.
