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Uniform-supplier
CintasCTAS released its fiscal fourth-quarter earnings results after the closing bell on Monday.
The company reported earnings per share that were below consensus estimates and revenue that was in-line with expectations. Cintas also delivered full-year EPS guidance that was below current consensus. In after hours trade, the stock was last down a little less than 5 percent to $45.62.
Management Commentary
Scott D. Farmer, Chief Executive Officer, stated, “We are pleased to report another quarter of record revenue. In addition, our fourth quarter operating margin of 13.6% of revenue reflects the execution of our plan to sell profitable business, manage our cost structure and continuously improve the efficiency of our processes. These solid results conclude a successful year for Cintas achieved in large part by the hard work and dedication of our employees, who we call partners.”
Q4 Results
Cintas reported net income of $86.0 million or $0.69 per share, compared to $78.6 million or $0.60 per share, in last year's corresponding period. This missed Wall Street analysts' consensus EPS estimates of $0.70 by a penny.
Total revenue in the fiscal fourth-quarter rose 7.2 percent to $1.13 billion from $1.05 billion a year ago. This was in-line with Wall Street sales expectations.
Rental uniforms and related products sales were up 4.8 percent to $785.0 million. Revenue from other services rose 13 percent to $344.1 million.
Full-Year Guidance
Cintas guided for full-year earnings per share in a range between $2.66 and $2.75 on revenue of $4.5 billion to $4.6 billion. This compares to current consensus EPS estimates of $2.79 per share on revenue of $4.54 billion for the fiscal year.
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