Vestis Corporation reported a modest revenue decline in QQ3 2024 alongside a stabilized EBITDA trajectory and improving retention metrics, signaling a gradual stabilization of the recurring revenue base after a challenging prior year with large national account losses. GAAP results show revenue of $698.2 million with gross margin near 29% and GAAP EBITDA of $73.4 million (adjusted EBITDA of $87 million, 12.4% margin) driven by ongoing pricing actions and meaningful new business wins. Management reaffirmed full-year 2024 guidance and stressed that second-half results should form the new base for growth, supported by a series of structural improvements (new COO, new Head of Field Sales, delayering, and a cost-out program) that are expected to generate roughly $8 million in annualized gross cost out and roughly $4 million in net annualized savings, funded by a roughly $4 million reinvestment in leadership. Balance-sheet discipline continued with a $250 million AR securitization facility announced post-quarter, intended to unlock latent working capital and materially reduce net debt, positioning the company toward its long-run leverage target of 1.5x–2.5x. Near-term focus remains on improving service levels and retention to convert new-business momentum into durable organic growth.