Vestis Corporation ( (VSTS) ) has released its Q4 earnings. Here is a breakdown of the information Vestis Corporation presented to its investors.
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Vestis Corporation, a leader in the B2B uniform and workplace supplies sector, provides comprehensive services ranging from uniform rental to specialty garment processing for various North American clients.
Vestis Corporation reported its fiscal year 2024 financial results, revealing a slight decline in revenue but an improvement in cash flow and debt levels. The company remains optimistic about its growth prospects for 2025.
The company’s fiscal 2024 revenue was $2.8 billion, marking a slight decrease from the previous year. Operating income fell by 27.5% to $158 million, and adjusted EBITDA decreased by 12.6%. However, Vestis improved its operating cash flow by 83.6% to $472 million and reduced its net debt by $319 million to $1.3 billion. Despite a decline in revenue, Vestis managed to improve its net leverage ratio from 3.95x to 3.62x. Additionally, the company entered a $250 million accounts receivable securitization facility and declared a quarterly dividend.
Looking ahead, Vestis anticipates revenue for fiscal 2025 to range between $2.8 billion and $2.83 billion, with adjusted EBITDA expected to be between $345 million and $360 million. With a focus on strategic priorities and efficient operations, the company is poised for underlying growth in the coming year.
