Vestis Corporation Shares Drop 13% Amid Q1 Results And Executive Transition

Vestis Corporation Registered Shs When-Issued

13.55 USD -0.95%

• Charts
• News
• Analysen

Kaufen / Verkaufen

(RTTNews) - Vestis Corporation's (VSTS) stock experienced a significant drop of 13.29 percent during Friday morning trading. This decline followed the company's announcement of its first-quarter fiscal 2025 results, which showed a decrease in revenue compared to the same period last year.

Currently, VSTS is trading at $13.73 down 12.97 percent or $2.11 on the Nasdaq. The stock opened at $14.08 and traded within a range of $13.59 to $14.49 during the day.

With a 52-week range of $8.92 to $22.37, the current price represents a significant drop from its recent highs. The volume for the day was approximately 1.99 million shares, higher than the average volume of 1.87 million.

For the first quarter of fiscal 2025, Vestis reported revenue of $683.8 million, down from $717.9 million in the previous year. While this marks a year-over-year decline, the company noted that its revenue was largely flat compared to the fourth quarter of fiscal 2024, in line with expectations.

In addition to the revenue report, Vestis disclosed that Rick Dillon, the company's Executive Vice President and Chief Financial Officer, will be leaving as part of a transition in the CFO role. This leadership change could have further contributed to the stock's decline, as changes in key positions often introduce uncertainty for investors.