Cintas posted its fiscal second quarter results that surpassed Wall Street expectations.
The uniform rental company’s diluted earnings per share came in at $2.76, higher than the Street expectations of $2.65 per share.
Sales rose +9.4% from the year-ago quarter to $1.92 billion vs. $1.76 billion expected by analysts polled by FactSet.
CEO Todd Schneider said that EPS grew significantly notwithstanding U.S. inflation’s recent 39-year high and the company’s investment in labor to support revenue growth.
Looking ahead, Cintas projects fiscal 2022 diluted earnings per share in the range of $10.70 to $10.95, up from a prior forecast of $10.60 to $10.90. Analysts expect earnings per share of $10.90.
Cintas expects revenue to range between $7.63 billion and $7.7 billion, higher than its previous outlook of $7.58 billion to $7.67 billion. Analysts expect revenue of $7.65 billion.
The company mentioned that the guidance assumes “an uneven economic recovery" from Covid-19, and that it did not incorporate any costs related to Covid-19 government mandates.