UniFirst Corporation Net Income Falls 16% to $20.5M in Q2 FY2026

UniFirst Corporation (NYSE: UNF), a provider of workplace uniforms and protective clothing, reported net income of $20.5 million for the quarter ending February 28, 2026, a 16% decline from $24.5 million in the same quarter a year earlier. The company recorded diluted earnings per share of $1.13, down from $1.31 in the prior-year period. Read more earnings reports.

Revenue for the quarter reached $622.5 million, up 3.4% from $602.2 million in the quarter ending March 1, 2025. Operating income fell 17% to $26.0 million from $31.2 million year-over-year.

Cost of revenue increased to $403.7 million from $394.1 million, while selling, general and administrative expenses climbed to $157.4 million from $141.9 million. Interest expense decreased to $1.6 million from $2.2 million. The company's effective tax rate remained consistent, with income tax expense of $6.9 million compared to $8.2 million in the prior-year quarter.

For the six months ending February 28, 2026, UniFirst posted net income of $54.8 million on revenue of $1.24 billion, compared to net income of $67.6 million on revenue of $1.21 billion for the six months ending March 1, 2025. Operating income for the first half declined to $71.3 million from $86.7 million.

Cash from operations totaled $88.5 million for the six-month period, down from $128.3 million in the prior-year period. The company spent $91.5 million on investing activities, primarily capital expenditures, compared to $67.2 million a year earlier. Cash and cash equivalents stood at $151.8 million as of February 28, 2026, down from $203.5 million at fiscal year-end August 30, 2025.

Total assets increased to $2.80 billion from $2.78 billion at fiscal year-end. Goodwill rose to $670.0 million from $657.7 million, while property, plant and equipment increased to $848.1 million from $829.6 million. Total liabilities stood at $617.1 million, up slightly from $609.2 million.

Stockholders' equity reached $2.18 billion as of February 28, 2026, compared to $2.17 billion at fiscal year-end. The company paid $5.3 million in dividends during the quarter. Common shares outstanding declined to 14.5 million from 14.7 million.