- Cintas Corp (NASDAQ:CTAS) reported fourth-quarter FY22 sales growth of 13% year-on-year to $2.07 billion, beating the consensus of $2.01 billion.
- The organic revenue growth rate was 12.7% for the quarter. The organic revenue growth rates for the Uniform Rental and Facility Services and First Aid and Safety Services reportable operating segments were 10.5% and 15.1%, respectively.
- The gross margin contracted by 120 basis points Y/Y to 45.6% in the quarter.
- Selling and administrative expenses were $541.75 million. Operating income increased 13.5% to $404.4 million, while the operating margin expanded by 10 basis points to 19.5%.
- EPS of $2.81 beat the analyst consensus of $2.67.
- The company held $90.47 million in cash and equivalents as of May 31, 2022.
- Outlook: Cintas sees FY23 revenue of $8.47 billion – $8.58 billion, above the consensus of $8.33 billion.
- The company expects FY23 EPS of $11.90 – $12.30 versus the consensus of $12.24.
- Price Action: CTAS shares are trading higher by 1.33% at $382.60 on the last check Thursday.
Nasdaq, S&P 500 Futures Surge As Earnings Optimism Drives Positive Sentiment: Analyst Lists 3 Factors For Higher Market Multiples
U.S. stocks are set for additional gains on Monday, building on the momentum of the S&P 500 reaching a new high last Friday, with earnings expected to be the focal point throughout the upcoming week.
