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Last $69.79 USD
Change Today +0.11 / 0.16%
Volume 109.9K
GK On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 06/1/15 All times are local (Market data is delayed by at least 15 minutes).

g & k services inc -cl a (GK) Snapshot

Open
$69.81
Previous Close
$69.68
Day High
$70.54
Day Low
$68.85
52 Week High
03/23/15 - $74.11
52 Week Low
08/1/14 - $47.40
Market Cap
1.4B
Average Volume 10 Days
101.5K
EPS TTM
$3.03
Shares Outstanding
20.0M
EX-Date
06/1/15
P/E TM
23.0x
Dividend
$1.24
Dividend Yield
1.78%
Current Stock Chart for G & K SERVICES INC -CL A (GK)

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g & k services inc -cl a (GK) Details

G&K Services, Inc. provides branded uniform and facility services programs in the United States, Canada, and the Dominican Republic. The company’s facility services programs comprise floor mat offerings, including traction control, logo, message, scraper, and anti-fatigue; towel products, such as shop, kitchen, bar, bath, dish, continuous roll, and microfiber; dust, microfiber, and wet mops; fender covers; linen items; and restroom hygiene products. It also manufactures work apparel garments that are used to support garment rental and direct purchase programs. The company serves customers in various industries comprising automotive, warehousing, distribution, transportation, energy, manufacturing, food processing, pharmaceutical, retail, restaurants, hospitality, government, healthcare, and others. G&K Services, Inc. was founded in 1902 and is headquartered in Minnetonka, Minnesota.

7,800 Employees
Last Reported Date: 08/21/14
Founded in 1902

g & k services inc -cl a (GK) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $667.3K
Vice President, General Counsel and Corporate...
Total Annual Compensation: $309.2K
Compensation as of Fiscal Year 2014.

g & k services inc -cl a (GK) Key Developments

G&K Services, Inc. Declares Quarterly Dividend, Payable on June 19, 2015

G&K Services Inc. announced that its board of directors has declared a quarterly dividend of $0.31 per share. The dividend will be payable on June 19, 2015 to shareholders of record at the close of business on June 3, 2015.

G&K Services Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 28, 2015; Revised Earnings Guidance for the Fiscal Year 2015

G&K Services Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 28, 2015. For the quarter, the company's rental and direct sale revenue was $233,514,000 compared to $225,046,000 a year ago. Income from continuing operations was $21,601,000 compared to $18,074,000 a year ago. Income from continuing operations before income taxes was $19,856,000 compared to $16,514,000 a year ago. Net income from continuing operations was $12,429,000 compared to $10,391,000 a year ago. Net income was $12,429,000 compared to $10,210,000 a year ago. Diluted earnings per share from continuing operations was $0.61 compared to $0.51 a year ago. Diluted earnings per common share was $0.61 compared to $0.50 a year ago. Net income from continuing operations available to common stockholders was $12,194,000 compared to $10,249,000 a year ago. Adjusted operating income was $28,101,000 compared to $24,971,000 a year ago. Adjusted net income was $16,498,000 or $0.81 per diluted share compared to $14,688,000 $0.73 per diluted share a year ago. This strong organic growth was partially offset by the negative impact of a lower exchange rate for the Canadian dollar, which reduced total revenue growth by 1.6%. For the nine months, the company's rental and direct sale revenue was $701,065,000 compared to $671,188,000 a year ago. Income from continuing operations was $77,075,000 compared to $69,339,000 a year ago. Income from continuing operations before income taxes was $71,612,000 compared to $64,632,000 a year ago. Net income from continuing operations was $45,750,000 compared to $40,344,000 a year ago. Net income was $45,750,000 compared to $31,951,000 a year ago. Diluted earnings per share from continuing operations was $2.24 compared to $2.00 a year ago. Diluted earnings per common share was $2.24 compared to $1.58 a year ago. Net income from continuing operations available to common stockholders was $44,979,000 compared to $39,784,000 a year ago. Net cash provided by operating activities was $80,866,000 compared to $42,542,000 a year ago. The increased operating cash flow was primarily due to higher net income, improved working capital management, and lower income tax payments. Capital expenditures was $40,022,000 compared to $23,172,000 a year ago, as the company continued investments in capacity expansion and information technology. Adjusted operating income was $83,575,000 compared to $73,847,000 a year ago. Adjusted net income was $49,819,000 or $2.45 per diluted share compared to $43,129,000 $2.14 per diluted share a year ago. The third quarter organic growth rate, which adjusts for the impact of currency exchange rate differences, acquisitions and divestitures, was 5.4%. Based on year to date results, the company now expects full year fiscal 2015 revenue in the range of $934 million to $939 million, narrowing its previous range of $930 million to $950 million. Organic revenue growth will continue to be partially offset by the impact of a lower exchange rate for the Canadian dollar, which the company expects will reduce full-year revenue growth by approximately 1.5 percent. The company also narrowed its guidance for full-year adjusted earnings, to a range of $3.24 to $3.30 per diluted share, compared to its previously announced range of $3.20 to $3.30 per share. This guidance excludes the impact of the previously mentioned $0.20 per share charge related to the company's withdrawal from MEPPs. The company now expects full year CapEx will come in slightly above previous forecast of $50 million. The company expects full year interest expense will increase slightly next year as the effective interest rate on new revolver will be slightly higher than the rate on the private placement notes that mature in June. And also, the company expects tax rate will increase to around 38% next year.

G&K Services, Inc. Completes $350 Million Revolving Credit Facility

G&K Services Inc. announced the successful refinancing of its unsecured revolving credit facility. The new five-year, $350 million revolving credit facility replaces the company’s existing $250 million revolving credit facility, which was scheduled to expire in March 2017. The prior facility had borrowings of $30 million at the closing of refinancing. The new credit facility was provided by a syndicate of financial institutions and arranged by Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, and Merrill, Lynch, Pierce, Fenner & Smith Incorporated. The facility, which will mature on April 15, 2020, bears interest between 1.00% to 1.75% over LIBOR, depending on the company’s leverage ratio. The new facility can be expanded by $200 million, to a total size of $550 million.

 

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Industry Analysis

GK

Industry Average

Valuation GK Industry Range
Price/Earnings 23.0x
Price/Sales 1.5x
Price/Book 3.6x
Price/Cash Flow 22.7x
TEV/Sales 1.2x
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