Vestis posts $0.7 million Q3 net loss as revenue falls 3.5% to $673.8 million
Vestis reported fiscal third-quarter 2025 revenue of $673.8 million, down $24.4 million or 3.5% from a year earlier, and a net loss of $0.7 million, or $(0.01) per diluted share, compared with net income of $5.0 million, or $0.04 per share, in the prior-year quarter. Adjusted EBITDA fell to $64.0 million from $86.9 million, and CEO Jim Barber said results were in line with the company's expectations. Shareholders face lower profit and a narrower margin for covenant compliance, with the Net Leverage Ratio at 4.50x against a 5.25x limit.
Key points
- Revenue of $673.8 million, down $24.4 million (3.5%) year over year, driven by a $18.0 million decline in rental revenue
- Net loss of $0.7 million, or $(0.01) per diluted share, versus net income of $5.0 million, or $0.04 per share, a year earlier
- Adjusted EBITDA of $64.0 million versus $86.9 million in the prior-year quarter
- Net Leverage Ratio of 4.50x; the credit agreement caps it at 5.25x for quarters ending before July 3, 2026
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:54 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 05, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.