Looking back on industrial & environmental services stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including UniFirst (NYSE: UNF) and its peers.

Growing regulatory pressure on environmental compliance and increasing corporate ESG commitments should buoy the sector for years to come. On the other hand, environmental regulations continue to evolve, and this may require costly upgrades, volatility in commodity waste and recycling markets, and labor shortages in industrial services. As for digitization, a theme that is impacting nearly every industry, the increasing use of data, analytics, and automation will give rise to improved efficiency of operations. Conversely, though, the benefits of digitization also come with challenges of integrating new technologies into legacy systems.

The 8 industrial & environmental services stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 1% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady as they are up 2% on average since the latest earnings results.

UniFirst (NYSE: UNF)

With a fleet of trucks making weekly deliveries to over 300,000 customer locations, UniFirst (NYSE: UNF) provides, rents, cleans, and maintains workplace uniforms and protective clothing for businesses across various industries.

UniFirst reported revenues of $614.4 million, down 4% year on year. This print exceeded analysts’ expectations by 1.1%. Despite the top-line beat, it was still a slower quarter for the company with a significant miss of analysts’ full-year EPS and revenue guidance slightly missing analysts’ expectations.

Interestingly, the stock is up 11.3% since reporting and currently trades at $193.

Read our full report on UniFirst here, it’s free for active Edge members.

Best Q3: Tetra Tech (NASDAQ: TTEK)

With a 50-year legacy of "Leading with Science" and operations on all seven continents, Tetra Tech (NASDAQ: TTEK) provides high-end consulting and engineering services focused on water management, environmental solutions, and sustainable infrastructure for government and commercial clients worldwide.

Tetra Tech reported revenues of $1.16 billion, up 1.6% year on year, outperforming analysts’ expectations by 10.7%. The business had a strong quarter with a beat of analysts’ EPS and revenue estimates.

Tetra Tech delivered the biggest analyst estimates beat among its peers. The market seems content with the results as the stock is up 2.7% since reporting. It currently trades at $33.33.

Is now the time to buy Tetra Tech? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Vestis (NYSE: VSTS)

Operating a network of more than 350 facilities with 3,300 delivery routes serving customers weekly, Vestis (NYSE: VSTS) provides uniform rentals, workplace supplies, and facility services to over 300,000 business locations across the United States and Canada.

Vestis reported revenues of $686.2 million, flat year on year, exceeding analysts’ expectations by 2.1%. Still, it was a softer quarter as it posted a significant miss of analysts’ EPS estimates.

The stock is flat since the results and currently trades at $6.67.

Read our full analysis of Vestis’s results here.

Driven Brands (NASDAQ: DRVN)

With approximately 5,000 locations across 49 U.S. states and 13 other countries, Driven Brands (NASDAQ: DRVN) operates a network of automotive service centers offering maintenance, car washes, paint, collision repair, and glass services across North America.

Driven Brands reported revenues of $484.3 million, down 3.6% year on year. This print missed analysts’ expectations by 9.9%. More broadly, it was actually a strong quarter as it put up a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.

Driven Brands had the weakest performance against analyst estimates among its peers. The stock is up 2.2% since reporting and currently trades at $14.57.

Read our full, actionable report on Driven Brands here, it’s free for active Edge members.

Cintas (NASDAQ: CTAS)

Starting as a family business collecting and cleaning shop rags in Cincinnati, Cintas (NASDAQ: CTAS) provides corporate identity uniforms, facility services, and safety products to over one million businesses across North America.

Cintas reported revenues of $2.8 billion, up 9.3% year on year. This number surpassed analysts’ expectations by 1.4%. Overall, it was a satisfactory quarter as it also recorded a narrow beat of analysts’ revenue estimates.

The stock is flat since reporting and currently trades at $188.07.

Read our full, actionable report on Cintas here, it’s free for active Edge members.

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