Vestis (VSTS) Q4 FY2023 earnings: revenue $716 million

Vestis Corp. (VSTS) reported revenue of $716 million for Q4 FY2023, the quarter ended 29 September 2023. Net income was $94 million, and diluted earnings per share $0.72. The figures are the company's own, from the 10-K it filed with the SEC on 22 November 2024.

Revenue$716 million

Net income$94 million

Diluted EPS$0.72

QuarterQ4 FY2023ended 29 September 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Revenue	716	n/a	n/a	n/a
Cost of revenue	490	n/a	n/a	n/a
Gross profit	226	n/a	n/a	n/a
Gross margin	31.5%	n/a	n/a
Selling, general and administrative	133	n/a	n/a	n/a
Operating income	57.8	n/a	n/a	n/a
Operating margin	8.1%	n/a	n/a
Pre-tax income	109	n/a	n/a	n/a
Income tax	15.4	n/a	n/a	n/a
Effective tax rate	14.0%	n/a	n/a
Net income	94.0	n/a	n/a	n/a
Net margin	13.1%	n/a	n/a
Diluted EPS	$0.72	n/a	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	113	n/a	n/a	n/a
Capital expenditure	25.2	n/a	n/a	n/a
Free cash flow	87.8	n/a	n/a	n/a
Free cash flow margin	12.3%	n/a	n/a
Cash from investing	26.9	n/a	n/a	n/a
Cash from financing	-118	n/a	n/a	n/a
Depreciation and amortisation	34.8	n/a	n/a	n/a
Share-based compensation	2.9	n/a	n/a	n/a
Diluted shares, weighted	131m	n/a	n/a	n/a
Shares outstanding at period end	132m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	877	n/a	n/a	n/a
Debt	1,463	n/a	n/a	n/a
Operating lease liabilities	46.1	n/a	n/a	n/a
Finance lease liabilities	105	n/a	n/a	n/a
Other liabilities	666	n/a	n/a	n/a
Total liabilities and equity	3,157	n/a	n/a	n/a
Fixed assets	665	n/a	n/a	n/a
Goodwill	964	n/a	n/a	n/a
Intangible assets	239	n/a	n/a	n/a
Cash and equivalents	36.1	n/a	n/a	n/a
Receivables	393	n/a	n/a	n/a
Inventory	175	n/a	n/a	n/a
Other assets	687	n/a	n/a	n/a
Total assets	3,157	n/a	n/a	n/a

Questions

What was Vestis' revenue in Q4 FY2023?

Vestis (VSTS) reported revenue of $716 million for Q4 FY2023, the quarter ended 29 September 2023.

How much did Vestis earn in Q4 FY2023?

Net income for Q4 FY2023 was $94 million, and diluted earnings per share $0.72.

When did Vestis report Q4 FY2023 results?

Vestis filed its 10-K for the year that ended with the quarter on 22 November 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	716	718	705	698	684	684	665	674	712	663	659	662
Cost of revenue	490	502	504	496	487	495	490	492	533	492	486	476
Gross profit	226	216	201	202	197	189	175	182	179	171	174	185
Gross margin	32%	30%	28%	29%	29%	28%	26%	27%	25%	26%	26%	28%
SG&A	133	133	123	130	132	121	148	122	126	120	112	115
Operating income	57.8	47.6	43.1	37.5	29.8	30.4	-8.6	25.0	17.6	16.6	26.8	37.2
Operating margin	8%	7%	6%	5%	4%	4%	-1%	4%	2%	2%	4%	6%
Pre-tax income	109	16.8	8.3	8.1	-1.3	1.5	-34.2	-0.7	-10.9	-8.6	2.5	14.3
Tax rate	14%	27%	28%	38%	n/a	46%	n/a	n/a	n/a	n/a	-3%	23%
Net income	94.0	12.3	6.0	5.0	-2.3	0.8	-27.8	-0.7	-12.5	-6.4	2.6	11.0
Net margin	13%	2%	1%	1%	-0%	0%	-4%	-0%	-2%	-1%	0%	2%
Diluted EPS	$0.72	$0.09	$0.05	$0.04	-$0.02	$0.01	-$0.21	-$0.01	-$0.10	-$0.05	$0.02	$0.08
Operating cash flow	113	51.5	76.0	48.7	296	3.8	6.7	22.9	30.9	37.7	58.3	64.9
Capital expenditure	25.2	16.9	12.9	21.0	28.1	14.7	13.5	14.9	15.4	9.4	12.7	18.0
Free cash flow	87.8	34.6	63.2	27.7	267	-11.0	-6.9	8.0	15.6	28.3	45.6	47.0
Dividends paid	n/a	0.0	4.6	4.6	4.6	4.6	9.2	0.0	0.0	0.0	0.0	0.0
Shares outstanding	132m	131m	131m	131m	131m	132m	132m	132m	132m	132m	132m	132m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 29 September 2023, filed 22 November 2024, accession 0001967649-24-000060: the filing on EDGAR. All of Vestis Corp.'s filings: EDGAR company page.

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