- Cintas Corporation (NASDAQ:CTAS) reported second-quarter FY23 sales growth of 13% year-on-year to $2.17 billion, beating the consensus of $2.13 billion.
- Organic revenue growth rate was 12.8% for the quarter.
- Gross margin expanded by 100 basis points Y/Y to 47% in the quarter.
- Selling and administrative expenses were $577.5 million. Operating income increased 16.7% to $444.9 million, while the operating margin expanded by 70 basis points to 20.5%.
- EPS of $3.12 beat the analyst consensus of $3.03.
- The company held $89.8 million in cash and equivalents as of November 30, 2022. Net cash provided by operations for six months totaled $619.1 million, with a free cash flow of $472.7 million.
- Outlook: Cintas raised its annual revenue expectations from $8.58 billion – $8.67 billion to $8.67 billion – $8.75 billion, above the consensus of $8.63 billion.
- The company boosted the FY23 EPS outlook from $12.30 – $12.65 to $12.50 – $12.80 versus the consensus of $12.58.
- Price Action: CTAS shares are trading higher by 2.39% at $454.55 on the last check Wednesday.
HireRight Holdings: Q1 Earnings Insights
HireRight Holdings (NYSE:HRT) reported its Q1 earnings results on Tuesday, May 9, 2023 at 04:05 PM. Here’s what…
