Cintas reports 9.9% revenue growth

By Bobby Samwell • Friday, April 05 15:18 • Permanent Link

Cintas Corporation has recently released its 10-Q report, providing a detailed insight into the company's operations and financial performance. Cintas is primarily engaged in providing corporate identity uniforms and related business services in the United States, Canada, and Latin America. The company operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments, offering a wide range of products and services including uniforms, mats, mops, restroom supplies, first aid and safety products, and fire protection products and services.

In terms of financial performance, Cintas reported a total revenue of $2,406.2 million for the three months ended February 29, 2024, marking a 9.9% increase compared to the same period in the previous year. The organic revenue growth rate, which adjusts for the impact of acquisitions, workday differences, and foreign currency exchange rate fluctuations, stood at 7.7%. The Uniform Rental and Facility Services segment reported a revenue of $1,876.6 million, representing an increase of 9.4% from the previous year. Additionally, the First Aid and Safety Services segment and All Other revenue increased by 11.8% to $529.5 million.

The company's operating income for the same period was $520.8 million, or 21.6% of revenue, compared to $446.8 million, or 20.4% of revenue, for the three months ended February 28, 2023. Furthermore, Cintas reported a net income of $397.6 million for the three months ended February 29, 2024, reflecting a 22.0% increase compared to the same period in the previous year.

For the nine months ended February 29, 2024, Cintas reported a total revenue of $7,125.7 million, indicating a 9.1% increase from the previous year. The Uniform Rental and Facility Services segment revenue for the same period was $5,554.0 million, representing an 8.4% increase from the prior year.

The market has reacted to these announcements by moving the company's shares 1.3% to a price of $673.16. If you want to know more, read the company's complete 10-Q report here.

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