Vestis Corporation (VSTS) stock plunged over 10% in pre-market trading on Friday, following the release of its fiscal first-quarter 2025 results and reaffirmed outlook for the full year.
For the quarter ended December 27, 2024, the uniform and workplace supplies provider reported adjusted earnings of $0.14 per share, down from $0.22 a year earlier, although slightly beating analysts' estimates. However, revenue declined to $683.8 million, missing expectations of $688.9 million and down from $717.9 million in the prior-year quarter.
Notably, Vestis reiterated its fiscal 2025 revenue guidance range of $2.80 billion to $2.83 billion, implying flat growth compared to the previous year. This sluggish growth outlook, coupled with the revenue miss, appeared to disappoint investors, triggering a sell-off in the company's shares during pre-market trading.
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