Vestis Corporation

Vestis Corporation has appointed Russell Tiejema as Executive Vice President and Chief Financial Officer, effective September 28, 2026. Tiejema succeeds Adam K. Bowen, who has served as Interim Chief Financial Officer since December 16, 2025, and intends to remain with the company through the end of October. Tiejema most recently served as Executive Vice President and Chief Financial Officer of US LBM, and previously spent nearly nine years as Executive Vice President and Chief Financial Officer of Masonite International. Vestis also reaffirmed its outlook for its full fiscal year 2026, consistent with the update provided in its third quarter earnings release on August 11, 2026.

Vestis reported fiscal third-quarter results that mark a turning point in its effort to prove its uniform and workplace supply business can become more profitable. Adjusted EBITDA climbed to about $81 million, up roughly $15 million or 23% year over year, and revenue per pound rose to $1.42, the first year-over-year increase since the company separated from Aramark. Net income swung to $11 million from a $0.7 million loss a year earlier, and the company raised its full-year free cash flow guidance to a range of $160 million to $170 million, up from $120 million to $150 million previously. Total revenue was about $662 million, down 1.8% year over year, and net debt stood at $1.2 billion at quarter-end. Management acknowledged a meaningful gap between its strongest and weakest markets and plans to address it with more customized, market-by-market execution.

Vestis Corporation reported fiscal third quarter 2026 adjusted EBITDA of approximately $81 million, up 23% year-over-year on a covenant adjusted basis, and raised its full-year free cash flow guidance to a range of $160 million to $170 million from $120 million to $150 million previously. Revenue for the quarter was approximately $662 million, down 1.8% year-over-year, driven by a 4.5% reduction in volume as the company intentionally exited low-quality business, while revenue per pound increased $0.04 or approximately 3% to $1.42, the first year-over-year increase since Vestis became a public company. Net income increased by $11.7 million to $11 million compared to a net loss of $0.7 million in the prior year, and adjusted EBITDA margin expanded to 12.2% from 9.8% a year ago. The company also announced an outsourcing agreement expected to generate approximately $10 million in annualized cost savings beginning in fiscal 2027, and said it expects fiscal 2026 adjusted EBITDA in the range of $310 million to $315 million.