Shares of UniFirst (UNF) plummeted 8.09% in Wednesday's trading session following the release of the company's fiscal third-quarter earnings report. Despite beating earnings per share (EPS) estimates and raising its full-year EPS guidance, investors appeared to focus on the revenue miss and maintained revenue outlook.

UniFirst reported Q3 revenue of $610.8 million, up 1.2% year-over-year but falling short of the $614.8 million expected by analysts. The company's EPS came in at $2.13, surpassing the FactSet consensus estimate of $2.01. Despite the earnings beat, the revenue shortfall seems to have overshadowed the positive aspects of the report.

Adding to investor concerns, UniFirst maintained its fiscal 2025 revenue guidance of $2.42 billion to $2.43 billion, which aligns with current analyst expectations. However, the company did raise its fiscal 2025 diluted EPS guidance to a range of $7.60 to $8.00, up from the previous $7.30 to $7.70. This improved outlook failed to offset the negative sentiment surrounding the revenue miss. The significant stock decline suggests that investors may have been anticipating stronger top-line growth or a more optimistic revenue forecast, particularly in light of current economic uncertainties.