Uniform rental provider Vestis Corporation (NYSE: VSTS) will be announcing earnings results this Tuesday morning. Here’s what you need to know.
Vestis met analysts’ revenue expectations last quarter, reporting revenues of $663.4 million, down 3.2% year on year. It was a softer quarter for the company, with EPS in line with analysts’ estimates and revenue in line with analysts’ estimates.
Is Vestis a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Vestis’s revenue to decline 1.6% year on year, improving from the 5.7% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Vestis has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Vestis’s peers in the industrial & environmental services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. CECO Environmental delivered year-on-year revenue growth of 16.5%, beating analysts’ expectations by 4.1%, and Tetra Tech reported a revenue decline of 4.9%, topping estimates by 4.8%. CECO Environmental traded up 11.6% following the results while Tetra Tech was also up 1.4%.
Read our full analysis of CECO Environmental’s results here and Tetra Tech’s results here.
There has been positive sentiment among investors in the industrial & environmental services segment, with share prices up 7.6% on average over the last month. Vestis is up 4.4% during the same time and is heading into earnings with an average analyst price target of $7.81 (compared to the current share price of $9.22).
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