UniFirst Corporation (NYSE:UNF) Q1 2024 Earnings Call Transcript

Steven Sintros: I wouldn’t say any real change. I mean, I think if you kind of look over the last number of years, aside from Clean, which was a larger deal and a little bit of a larger one that’s happened in the industry over the last number of years. There continues to be a small handful of potential deals that emerge and people kind of test the waters and so — and I think that really continues. I think the sellers in this industry continue to be driven by sort of their planning and succession planning and family dynamics and that continues to be true. I think the multiples have gone up. And as I’ve said before, we will be aggressive for deals that we think make sense and are in either strategic geographies for us or that we feel the quality of the business really warrants that. So I would say that really hasn’t changed much over the last couple of years.

Kartik Mehta: Thank you very much. I really appreciate it.

Steven Sintros: Thank you.

Operator: [Operator Instructions] There are no further questions at this time. I will turn the call back to you.

Steven Sintros: Great. I’d like to thank everyone for joining us today to review our first quarter results and we look forward to speaking with everybody again in March when we expect to be reporting our second quarter performance. Thank you and have a great day. Happy New Year.

Operator: That does conclude the conference call for today. We thank you for your participation and ask that you please disconnect your line.