Third quarter revenue reached $2.84 billion, up 8.9% year-over-year, with organic growth of 8.2%.
Net income for the quarter was $502.5 million, up 8.4%, and diluted EPS increased 9.7% to $1.24.
Achieved record gross margin of 51% and strong operating margins across all route-based businesses.
Announced agreement to acquire UniFirst Corporation for $5.5 billion, expected to close in the second half of calendar 2026, pending regulatory and shareholder approval.
Returned $1.45 billion to shareholders via dividends and buybacks in the first nine months of fiscal 2026.
Operating income for the quarter was $659.9 million (23.2% of revenue), up 8.2% year-over-year.
Gross margin for Q3 reached $1.45 billion, up 9.8% year-over-year; consolidated gross margin at 51%, up 40 basis points.
Effective tax rate for the quarter was 20.6%, slightly down from 21% a year ago.
Cash flow from operations for the nine months was $1.57 billion, with free cash flow at $1.27 billion.
Selling and administrative expenses were 27.8% of revenue, up 60 basis points due to a prior-year one-time gain.
Fiscal 2026 revenue guidance raised to $11.21–$11.24 billion, representing 8.4%–8.7% growth.
Adjusted diluted EPS guidance increased to $4.86–$4.90, up 10.5%–11.4%.
Guidance assumes constant FX, no future acquisitions, and a 20% effective tax rate.
Transaction costs related to UniFirst expected to impact EPS by $0.03–$0.04 in fiscal 2026, to be broken out separately starting Q4.
Management expects continued sufficient liquidity and strong cash flows to support operations, acquisitions, share repurchases, and dividends.
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