UniFirst revenue rises 5.0%; Community Trust earnings miss estimates
Key Facts
UniFirst's revenue rose 5.0% to $645.0 million in the fourth quarter of fiscal 2026, according to a company statement, while GAAP diluted earnings per share fell from a year earlier. Earnings per share were $1.90, compared with $2.23 in the corresponding period of 2025, as the company incurred costs related to a merger transaction and an internal systems project. The results cover the fourth quarter and fiscal year ended August 29, 2026. The company attributed quarterly revenue growth primarily to organic growth in its uniform and facility services segment, which supported sales during the period. For the full fiscal year, UniFirst's revenue totaled $2.523 billion, according to the same disclosure.
UniFirst's quarterly results included approximately $14.4 million in costs related to its proposed merger with Cintas, according to the company's earnings statement. Most of those costs consisted of legal and advisory fees and other professional services related to the proposed transaction. In addition to merger expenses, enterprise resource planning project costs totaled approximately $2.8 million during the fourth fiscal quarter. Operationally, the uniform and facility services segment benefited from lower merchandise costs and selling expenses as a percentage of revenue. However, higher production expenses and healthcare claims offset some of those benefits, according to the company's explanation of the factors affecting the segment's performance. UniFirst's cash and cash equivalents totaled $192.1 million at the end of fiscal 2026.
In separate results for the third quarter of 2026, Community Trust Bancorp reported earnings per share of $1.43, according to Investing.com. The result fell short of analysts' estimates of $1.65 per share for the same period. The shortfall was $0.22 per share, according to the comparison published by the website in its presentation of the company's quarterly results. Quarterly revenue was $79.7 million, also below analysts' estimates of $80.2 million. Both earnings per share and revenue therefore missed estimates, whereas the company had beaten expectations for both measures in the previous quarter.
Community Trust's earnings per share declined from the second quarter of 2026, when the company reported $1.64 per share, according to results for that period reported by Investing.com. Analysts' estimates for the second quarter were $1.52 per share, meaning earnings at the time exceeded expectations. Third-quarter revenue, meanwhile, rose from second-quarter revenue of $78.5 million, despite falling short of expectations for the current period. Second-quarter revenue expectations were below the actual result, at $76.85 million, according to the comparison published for that period. On a year-earlier basis, diluted earnings per share in the third quarter of 2025 were approximately $1.32, according to Community Trust's statement filed with the U.S. Securities and Exchange Commission.
As background to Community Trust's financial performance, net interest income in the second quarter of 2026 totaled $60.9 million, according to the company's disclosure to the U.S. Securities and Exchange Commission. The company recorded a provision for credit losses of $2.8 million in that same preceding quarter. Following those results, Piper Sandler raised its price target for Community Trust shares to $81, according to a report carried by Investing.com dated July 16, 2026. The firm's previous price target was $76 per share before this adjustment tied to the second-quarter results. Piper Sandler maintained its "Neutral" rating on the stock while raising its price target in that report.
For UniFirst, the proposed merger with Cintas remains pending, and the company has linked its earnings announcement arrangements and financial guidance to the transaction. In its earnings announcement, it said it "will not hold a quarterly earnings conference call or provide financial guidance" because of the pending transaction. Completion of the merger is subject to a timing agreement the companies entered into with the Federal Trade Commission, according to UniFirst's disclosure. Under that agreement, UniFirst and Cintas committed not to complete the transaction before December 11, 2026, with an exception related to the regulatory investigation process. The agreement allows completion before that date if the commission notifies the companies in writing that it has closed the investigation, under the terms announced by UniFirst.