Vestis Corp (VSTS) Form 8-K — Aug 11, 2026
Vestis Corporation reported fiscal third-quarter 2026 results for the quarter ended July 3, 2026, with revenue of $661.7 million, down 1.8% year over year on 4.5% lower volume. Net income swung to $11.0 million, or $0.08 per diluted share, from a $0.7 million loss a year earlier, while Adjusted EBITDA rose 23% to $80.9 million with margin expanding to 12.2% from 9.5%. Cash generation was the standout: operating cash flow reached $64.9 million, Free Cash Flow was $47.0 million, and the company repaid $30.0 million of debt, leaving total liquidity of $351.8 million. Net Debt fell to $1,205.4 million and the Net Leverage Ratio improved to 4.10x from 4.47x the prior quarter.
Key figures
- Eps
- 0.08
- Revenue
- 661663000
- Guidance
- FY2026 revenue flat to down 2% vs. normalized FY2025; Adjusted EBITDA $310.0M-$315.0M (midpoint $312.5M, raised $2.5M); Free Cash Flow $160.0M-$170.0M (raised $30M, or 22%, at midpoint); Q4 implied Adjusted EBITDA $84.0M-$89.0M
- Net Income
- 11046000
- Total Debt
- 1097500000
- Revenue Yoy
- -1.8%
- Cash Position
- 57659000
- Net Debt
- $1,205.4 million
- Cost Per Pound
- $1.24, flat YoY
- Free Cash Flow
- $47.0 million
- Adjusted EBITDA
- $80.9 million
- Total Liquidity
- $351.8 million
- Revenue Per Pound
- $1.42, up 2.9% YoY (first year-over-year increase in public company history)
- Net Leverage Ratio
- 4.1
- Nine Month Revenue
- $1,984.5 million
- Prior Year Net Loss
- -$0.7 million
- Volume Decline Yo Y
- -4.5% in pounds processed
- Operating Cash Flow
- $64.9 million
- Operating Income Q3
- $37.2 million
- Adjusted Diluted EPS
- $0.18 (vs. $0.07 prior year)
- Outsourcing Savings
- ~$10 million annual SG&A savings beginning fiscal 2027
- Debt Repaid In Quarter
- $30.0 million
- Adjusted EBITDAMargin
- 12.2% (vs. 9.5% prior year)
- Adjusted Free Cash Flow
- $55.5 million
- Prior Year Adjusted EBITDA
- $64.0 million ($65.8 million covenant-adjusted)
- Transformation Savings Target
- At least $75 million annualized; ~$50 million in-year FY2026 benefit with ~$30 million realized through Q3
- Prior Quarter Net Leverage Ratio
- 4.47
Price after filing
Close on the filing date to close N calendar days later (from $14.21). Historical, not a forecast.
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