Vestis Corp
Business
Vestis Corporation is a provider of uniform rentals and workplace supplies across the United States and Canada. The company offers uniforms, mats, towels, linens, restroom supplies, first-aid supplies, safety products and other workplace supplies through a full-service model including design, manufacturing, laundering, customization and recurring delivery. Vestis serves over 300,000 customer accounts across diverse industries including manufacturing, hospitality, retail, food processing, pharmaceuticals, healthcare and automotive through multi-year contracts. The company operates over 325 facilities including laundry plants, distribution centers and manufacturing plants, with a substantial portion of uniforms manufactured in-house in Mexico.
Summary from 10-K filed 2025-12-02
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 |
|---|---|---|---|---|---|
| Revenue | 2,735 | 2,806 | 2,825 | 2,687 | |
| Cost of services provided (exclusive of depreciation and amortization) | 2,010 | 1,990 | 1,970 | 1,910 | |
| Depreciation and amortization | 143 | 141 | 137 | 134 | |
| Selling, general and administrative expenses | 517 | 517 | 501 | 451 | |
| Total Operating Expenses | 2,670 | 2,648 | 2,607 | 2,495 | |
| Operating Income | 64 | 158 | 218 | 192 | |
| Loss (Gain) on Sale of Equity Investment, net | 3 | 0 | −52 | 0 | |
| Interest Expense, net | 92 | 127 | 2 | — | |
| Other Expense (Income), net | 14 | −642,000 | −2 | — | |
| (Loss) Income Before Income Taxes | −44 | 32 | 270 | 190 | |
| (Benefit) Provision for Income Taxes | −4 | 11 | 57 | 48 | |
| Net (Loss) Income | −40 | 21 | 213 | 142 | |
| Basic (in usd per share) | −0.31 | 0.16 | 1.63 | 1.08 | |
| Diluted (in usd per share) | −0.31 | 0.16 | 1.63 | 1.08 | |
| Basic (in shares) | 132 | 132 | 131 | 131 | |
| Diluted (in shares) | 132 | 132 | 131 | 131 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 30 | 31 | 36 | — | — | |
| Receivables (net of allowances: $32,677; $19,804, respectively) | 162 | 177 | 393 | — | — | |
| Inventories, net | 179 | 165 | 175 | — | — | |
| Rental merchandise in service, net | 406 | 396 | 399 | — | — | |
| Other current assets | 73 | 44 | 17 | — | — | |
| Total current assets | 850 | 813 | 1,020 | — | — | |
| Property and Equipment, at cost | 1,739 | 1,759 | 1,697 | — | — | |
| Less - Accumulated depreciation | −1,075 | −1,088 | −1,032 | — | — | |
| Total property and equipment, net | 663 | 671 | 665 | — | — | |
| Goodwill | 962 | 964 | 964 | 963 | — | |
| Other Intangible Assets, net | 189 | 213 | 239 | — | — | |
| Operating Lease Right-of-use Assets | 85 | 74 | 58 | — | — | |
| Other Assets | 158 | 198 | 213 | — | — | |
| Total Assets | 2,907 | 2,932 | 3,157 | — | — | |
| Current maturities of financing lease obligations | 35 | 31 | 28 | — | — | |
| Current operating lease liabilities | 20 | 20 | 20 | — | — | |
| Accounts payable | 158 | 163 | 134 | — | — | |
| Accrued payroll and related expenses | 94 | 97 | 114 | — | — | |
| Accrued expenses and other current liabilities | 101 | 145 | 73 | — | — | |
| Total current liabilities | 409 | 456 | 396 | — | — | |
| Long-Term Borrowings | 1,155 | 1,148 | 1,463 | — | — | |
| Noncurrent Financing Lease Obligations | 131 | 115 | 105 | — | — | |
| Noncurrent Operating Lease Liabilities | 77 | 66 | 46 | — | — | |
| Deferred Income Taxes | 177 | 192 | 218 | — | — | |
| Other Noncurrent Liabilities | 92 | 53 | 53 | — | — | |
| Total Liabilities | 2,041 | 2,029 | 2,280 | — | — | |
| Commitments and Contingencies (see Note 9) | — | — | — | — | — | |
| Common stock, par value $0.01 per share, 350,000,000 shares authorized, 131,859,470 and 131,481,967 shares issued and outstanding as of October 3, 2025 and September 27, 2024, respectively | 1 | 1 | 0 | — | — | |
| Additional paid-in capital | 938 | 928 | 0 | — | — | |
| (Accumulated deficit) retained earnings | −47 | 3 | 0 | — | — | |
| Accumulated other comprehensive loss | −26 | −29 | −31 | — | — | |
| Total Equity | 866 | 903 | 877 | 2,336 | 2,332 | |
| Total Liabilities and Equity | 2,907 | 2,932 | 3,157 | — | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 |
|---|---|---|---|---|---|
| Deferred income taxes | −13 | −20 | 14 | 21 | |
| Share-based compensation expense | 12 | 16 | 14 | 17 | |
| Asset write-downs | 1 | 980,000 | 8 | 0 | |
| (Gain) loss on disposals of property and equipment | −490,000 | 1 | 0 | 0 | |
| Amortization of debt issuance costs | 4 | 5 | 0 | 0 | |
| Loss on extinguishment of debt | 0 | 4 | 0 | 0 | |
| Receivables, net | 14 | 216 | −24 | −54 | |
| Inventories, net | −14 | 10 | 9 | −631,000 | |
| Rental merchandise in service, net | −11 | 3 | −5 | −42 | |
| Other current assets | −25 | −3 | 952,000 | −3 | |
| Accounts payable | −267,000 | 22 | −33 | 31 | |
| Accrued expenses and other current liabilities | −12 | 81 | −8 | — | |
| Changes in other noncurrent liabilities | 9 | −16 | −944,000 | −2 | |
| Changes in other assets | −4 | −9 | −9 | −4 | |
| Other operating activities | −220,000 | 33,000 | −8 | −2 | |
| Net cash provided by operating activities | 64 | 472 | 257 | 233 | |
| Purchases of property and equipment and other | −58 | −79 | −78 | −76 | |
| Proceeds from disposals of property and equipment | 6 | 5 | 11 | 7 | |
| Proceeds from sale of equity investment | 38 | 0 | 52 | 0 | |
| Other investing activities | −5 | 0 | 75,000 | 200,000 | |
| Net cash used in investing activities | −20 | −74 | −15 | −86 | |
| Proceeds from long-term borrowings | 167 | 798 | 1,500 | 0 | |
| Payments of long-term borrowings | −161 | −1,138 | 0 | 0 | |
| Payments of financing lease obligations | −34 | −31 | −28 | −28 | |
| Dividend payments | −14 | −14 | 0 | 0 | |
| Debt issuance costs | −2 | −11 | −14 | 0 | |
| Other financing activities | −2 | −2 | 0 | 0 | |
| Net cash distributions to Parent | 0 | −6 | −1,689 | −135 | |
| Net cash used in financing activities | −46 | −403 | −230 | −163 | |
| Effect of foreign exchange rates on cash and cash equivalents | 383,000 | −218,000 | 353,000 | −2 | |
| Increase (Decrease) in cash and cash equivalents | −1 | −5 | 12 | −17 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Vestis Corp's CIK number?
Vestis Corp's SEC CIK number is 0001967649 (1967649). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Vestis Corp's SEC filings?
All of Vestis Corp's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Vestis Corp last report earnings?
Vestis Corp (VSTS) most recently filed an earnings 8-K with the SEC on May 12, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-033869). This is Vestis Corp's most recent earnings filing of record — not a forecast of its next earnings date.
What is Vestis Corp's most recent earnings 8-K?
Vestis Corp's latest earnings 8-K (Item 2.02) was filed May 12, 2026 under accession 0001628280-26-033869. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Vestis Corp's latest earnings 8-K →
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