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published in Blogs
Oct 01, 2022
Cintas (CTAS, $389.55) beat fiscal Q1 earnings expectations

Cintas (CTAS, $389.55) beat fiscal Q1 earnings expectations

Cintas Corporation reported first-quarter fiscal 2023 (ended Aug 31, 2022) earnings of $3.39 per share, rising +9% year-over-year, and surpassing the Zacks Consensus Estimate of $3.15.

Total revenues grew +14.2% year-over-year to $2,166.5 million, also beating the Zacks Consensus Estimate of $2,078.2 million. Organic sales climbed +13.9% year over year.

Revenues from the Uniform Rental and Facility Services segment (around 78.4% of the reported quarter’s net sales) climbed +12.6% year over year to $1,697.77 million. Revenues from the First Aid and Safety Services segment (representing 10.8% of the reported quarter’s net sales) were up +17.6% year over year to $234.16 million.  All Other business (representing 10.8% of the reported quarter’s net sales) rose +23.7% year over year to $226.25 million.

The (adjusted) operating margin expanded +20 basis points to 20.3%.

Related Tickers: CTAS