Cintas Corporation Announces Fiscal 2024 Third Quarter Results
- None.
- None.
Insights
The reported financials by Cintas Corporation indicate a robust performance, with significant growth in revenue and net income. The 9.9% increase in revenue and the 22.0% rise in net income year-over-year suggest a strong market position and effective cost management. The 7.7% organic growth rate is particularly impressive, as it excludes external factors such as acquisitions, which can inflate growth figures. The reduction in energy expenses, despite a generally volatile energy market, reflects well on the company's operational efficiency.
The increase in gross margin by 220 basis points to 49.4% is noteworthy. This expansion indicates that Cintas has been successful in managing its cost of goods sold or has increased its pricing power, or possibly a combination of both. Operating income growth outpacing revenue growth is a positive sign of operational leverage. The diluted EPS growth of 22.3% is a critical metric for shareholders as it directly impacts their returns.
From an investor's standpoint, the upward revision of the full fiscal year guidance provides a positive outlook, likely contributing to investor confidence. The decrease in expected interest expense due to lower variable rate debt suggests an improved debt profile and financial stability. However, investors should be mindful of the company's disclaimer regarding future share buybacks or acquisition activity, which could alter financial projections.
Cintas Corporation's performance can be seen as a bellwether for the broader economy, given their diverse client base across various industries. The strong results may imply that businesses are investing in the upkeep and image of their facilities and employees, which is often correlated with economic confidence. The company's ability to raise dividends by 17.1% signals not only financial health but also a commitment to returning value to shareholders, a factor that can be attractive to both current and potential investors.
The company's position in the Fortune 500 and inclusion in the S&P 500 and Nasdaq-100 indices underscore its market relevance. The emphasis on operational segments executing at a high level suggests that Cintas is not relying on a single driver for growth but is benefiting from a well-rounded strategy across its product and service lines.
The guidance for the fiscal year 2024 reflects optimism in continued strong performance. However, investors should consider the broader market conditions, including labor costs and supply chain challenges, which could impact operational costs and margins in the future.
Gross margin for the third quarter of fiscal 2024 was
Operating income for the third quarter of fiscal 2024 increased
Net income was
On March 15, 2024, Cintas paid an aggregate quarterly cash dividend of
Todd M. Schneider, Cintas' President and Chief Executive Officer, stated, "Our third quarter results reflect the outstanding dedication and execution of our employees, whom we call partners. Each of our operating segments continue to execute at a high level, which led to robust revenue growth of
Mr. Schneider concluded, "Based on our third quarter results, we are increasing our full fiscal year financial guidance. We are raising our annual revenue expectations from a range of
-
Fiscal year 2024 interest expense is expected to be approximately
$99.0 million $109.5 million -
Fiscal year 2024 effective tax rate is expected to be
20.6% compared to a rate of20.4% in fiscal year 2023. - Our diluted EPS guidance includes no future share buybacks.
Cintas
Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe and looking their best. With offerings including uniforms, mats, mops, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety training, Cintas helps customers get Ready for the Workday®. Headquartered in
Cintas will host a live webcast to review the fiscal 2024 third quarter results today at 10:00 a.m., Eastern Time. The webcast will be available to the public on Cintas' website at www.Cintas.com. A replay of the webcast will be available approximately two hours after the completion of the live call and will remain available for two weeks.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements. Forward-looking statements may be identified by words such as “estimates,” “anticipates,” “predicts,” “projects,” “plans,” “expects,” “intends,” “target,” “forecast,” “believes,” “seeks,” “could,” “should,” “may” and “will” or the negative versions thereof and similar words, terms and expressions and by the context in which they are used. Such statements are based upon current expectations of Cintas and speak only as of the date made. You should not place undue reliance on any forward-looking statement. We cannot guarantee that any forward-looking statement will be realized. These statements are subject to various risks, uncertainties, potentially inaccurate assumptions and other factors that could cause actual results to differ from those set forth in or implied by this Press Release. Factors that might cause such a difference include, but are not limited to, the possibility of greater than anticipated operating costs including energy and fuel costs; lower sales volumes; loss of customers due to outsourcing trends; the performance and costs of integration of acquisitions; inflationary pressures and fluctuations in costs of materials and labor, including increased medical costs; interest rate volatility; costs and possible effects of union organizing activities; failure to comply with government regulations concerning employment discrimination, employee pay and benefits and employee health and safety; the effect on operations of exchange rate fluctuations, tariffs and other political, economic and regulatory risks; uncertainties regarding any existing or newly-discovered expenses and liabilities related to environmental compliance and remediation; our ability to meet our goals relating to environmental, social and governance (ESG) opportunities, improvements and efficiencies; the cost, results and ongoing assessment of internal controls for financial reporting; the effect of new accounting pronouncements; disruptions caused by the inaccessibility of computer systems data, including cybersecurity risks; the initiation or outcome of litigation, investigations or other proceedings; higher assumed sourcing or distribution costs of products; the disruption of operations from catastrophic or extraordinary events including global health pandemics such as the COVID-19 coronavirus; the amount and timing of repurchases of our common stock, if any; changes in federal and state tax and labor laws; and the reactions of competitors in terms of price and service. Cintas undertakes no obligation to publicly release any revisions to any forward-looking statements or to otherwise update any forward-looking statements whether as a result of new information or to reflect events, circumstances or any other unanticipated developments arising after the date on which such statements are made, except otherwise as required by law. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the year ended May 31, 2023 and in our reports on Forms 10-Q and 8-K. The risks and uncertainties described herein are not the only ones we may face. Additional risks and uncertainties presently not known to us, or that we currently believe to be immaterial, may also harm our business.
Cintas Corporation Consolidated Condensed Statements of Income (Unaudited) (In thousands except per share data) |
|||||||||
|
|||||||||
|
Three Months Ended |
||||||||
|
February 29,
|
|
February 28,
|
|
% Change |
||||
Revenue: |
|
|
|
|
|
||||
Uniform rental and facility services |
$ |
1,876,642 |
|
|
$ |
1,716,165 |
|
|
|
Other |
|
529,531 |
|
|
|
473,821 |
|
|
|
Total revenue |
|
2,406,173 |
|
|
|
2,189,986 |
|
|
|
|
|
|
|
|
|
||||
Costs and expenses: |
|
|
|
|
|
||||
Cost of uniform rental and facility services |
|
960,208 |
|
|
|
907,993 |
|
|
|
Cost of other |
|
258,117 |
|
|
|
247,962 |
|
|
|
Selling and administrative expenses |
|
667,048 |
|
|
|
587,219 |
|
|
|
|
|
|
|
|
|
||||
Operating income |
|
520,800 |
|
|
|
446,812 |
|
|
|
|
|
|
|
|
|
||||
Interest income |
|
(930 |
) |
|
|
(373 |
) |
|
|
Interest expense |
|
25,530 |
|
|
|
28,819 |
|
|
(11.4)% |
|
|
|
|
|
|
||||
Income before income taxes |
|
496,200 |
|
|
|
418,366 |
|
|
|
Income taxes |
|
98,621 |
|
|
|
92,539 |
|
|
|
Net income |
$ |
397,579 |
|
|
$ |
325,827 |
|
|
|
|
|
|
|
|
|
||||
Basic earnings per share |
$ |
3.90 |
|
|
$ |
3.19 |
|
|
|
|
|
|
|
|
|
||||
Diluted earnings per share |
$ |
3.84 |
|
|
$ |
3.14 |
|
|
|
|
|
|
|
|
|
||||
Basic weighted average common shares outstanding |
|
101,477 |
|
|
|
101,714 |
|
|
|
Diluted weighted average common shares outstanding |
|
103,187 |
|
|
|
103,418 |
|
|
|
Cintas Corporation Consolidated Condensed Statements of Income (Unaudited) (In thousands except per share data) |
|||||||||
|
|||||||||
|
Nine Months Ended |
||||||||
|
February 29,
|
|
February 28,
|
|
% Change |
||||
Revenue: |
|
|
|
|
|
||||
Uniform rental and facility services |
$ |
5,554,009 |
|
|
$ |
5,123,924 |
|
|
|
Other |
|
1,571,671 |
|
|
|
1,407,374 |
|
|
|
Total revenue |
|
7,125,680 |
|
|
|
6,531,298 |
|
|
|
|
|
|
|
|
|
||||
Costs and expenses: |
|
|
|
|
|
||||
Cost of uniform rental and facility services |
|
2,882,022 |
|
|
|
2,705,486 |
|
|
|
Cost of other |
|
772,691 |
|
|
|
741,222 |
|
|
|
Selling and administrative expenses |
|
1,949,928 |
|
|
|
1,752,724 |
|
|
|
|
|
|
|
|
|
||||
Operating income |
|
1,521,039 |
|
|
|
1,331,866 |
|
|
|
|
|
|
|
|
|
||||
Interest income |
|
(2,121 |
) |
|
|
(872 |
) |
|
|
Interest expense |
|
76,664 |
|
|
|
85,459 |
|
|
(10.3)% |
|
|
|
|
|
|
||||
Income before income taxes |
|
1,446,496 |
|
|
|
1,247,279 |
|
|
|
Income taxes |
|
289,219 |
|
|
|
245,470 |
|
|
|
Net income |
$ |
1,157,277 |
|
|
$ |
1,001,809 |
|
|
|
|
|
|
|
|
|
||||
Basic earnings per share |
$ |
11.34 |
|
|
$ |
9.82 |
|
|
|
|
|
|
|
|
|
||||
Diluted earnings per share |
$ |
11.15 |
|
|
$ |
9.65 |
|
|
|
|
|
|
|
|
|
||||
Basic weighted average common shares outstanding |
|
101,681 |
|
|
|
101,589 |
|
|
|
Diluted weighted average common shares outstanding |
|
103,347 |
|
|
|
103,363 |
|
|
|
CINTAS CORPORATION SUPPLEMENTAL DATA
Gross Margin and Net Income Margin Results |
|||||||
|
Three Months Ended |
|
Nine Months Ended |
||||
|
February 29,
|
|
February 28,
|
|
February 29,
|
|
February 28,
|
|
|
|
|
|
|
|
|
Uniform rental and facility services gross margin |
|
|
|
|
|
|
|
Other gross margin |
|
|
|
|
|
|
|
Total gross margin |
|
|
|
|
|
|
|
Net income margin |
|
|
|
|
|
|
|
Reconciliation of Non-GAAP Financial Measures
The press release contains non-GAAP financial measures within the meaning of the rules promulgated by the
Computation of Free Cash Flow |
|||||||
|
Nine Months Ended |
||||||
(In thousands) |
February 29,
|
|
February 28,
|
||||
|
|
|
|
||||
Net cash provided by operations |
$ |
1,386,741 |
|
|
$ |
1,044,191 |
|
Capital expenditures |
|
(307,558 |
) |
|
|
(224,116 |
) |
Free cash flow |
$ |
1,079,183 |
|
|
$ |
820,075 |
|
Management uses free cash flow to assess the financial performance of the Company. Management believes that free cash flow is useful to investors because it relates the operating cash flow of the Company to the capital that is spent to continue, improve and grow business operations.
Computation of Organic Growth |
|||||||||||||||
|
Three Months Ended |
|
Nine Months Ended |
||||||||||||
|
February 29,
|
|
February 28,
|
|
Growth % |
|
February 29,
|
|
February 28,
|
|
Growth % |
||||
|
A |
|
B |
|
G |
|
I |
|
J |
|
O |
||||
Revenue |
$ |
2,406,173 |
|
$ |
2,189,986 |
|
|
|
$ |
7,125,680 |
|
$ |
6,531,298 |
|
|
|
|
|
|
|
G=(A-B)/B |
|
|
|
|
|
O=(I-J)/J |
||||
|
C |
|
D |
|
|
|
K |
|
L |
|
|
||||
Workdays in the period |
65 |
|
64 |
|
|
|
196 |
|
195 |
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
E |
|
F |
|
H |
|
M |
|
N |
|
P |
||||
Workday adjusted revenue growth |
$ |
2,369,155 |
|
$ |
2,189,986 |
|
|
|
$ |
7,089,324 |
|
$ |
6,531,298 |
|
|
|
E=(A/C)*D |
|
F=(B/D)*D |
|
H=(E-F)/F |
|
M=(I/K)*L |
|
N=(J/L)*L |
|
P=(M-N)/N |
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
Acquisition and foreign currency exchange impact, net |
|
|
|
|
(0.5)% |
|
|
|
|
|
(0.3)% |
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
Organic growth |
|
|
|
|
|
|
|
|
|
|
|
||||
Management believes that organic revenue growth is valuable to investors because it reflects the revenue performance compared to a prior period with the same number of revenue generating days and excludes the impact from acquisitions, divestitures and foreign currency exchange rate fluctuations.
SUPPLEMENTAL SEGMENT DATA
(In thousands) |
Uniform Rental and Facility Services |
|
First Aid and Safety Services |
|
All Other |
|
Corporate |
|
Total |
|||||||
For the three months ended February 29, 2024 |
|
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
1,876,642 |
|
$ |
262,602 |
|
$ |
266,929 |
|
$ |
— |
|
|
$ |
2,406,173 |
|
Gross margin |
$ |
916,434 |
|
$ |
147,732 |
|
$ |
123,682 |
|
$ |
— |
|
|
$ |
1,187,848 |
|
Selling and administrative expenses |
$ |
496,027 |
|
$ |
90,015 |
|
$ |
81,006 |
|
$ |
— |
|
|
$ |
667,048 |
|
Interest income |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(930 |
) |
|
$ |
(930 |
) |
Interest expense |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
25,530 |
|
|
$ |
25,530 |
|
Income (loss) before income taxes |
$ |
420,407 |
|
$ |
57,717 |
|
$ |
42,676 |
|
$ |
(24,600 |
) |
|
$ |
496,200 |
|
|
|
|
|
|
|
|
|
|
|
|||||||
For the three months ended February 28, 2023 |
|
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
1,716,165 |
|
$ |
231,605 |
|
$ |
242,216 |
|
$ |
— |
|
|
$ |
2,189,986 |
|
Gross margin |
$ |
808,172 |
|
$ |
119,408 |
|
$ |
106,451 |
|
$ |
— |
|
|
$ |
1,034,031 |
|
Selling and administrative expenses |
$ |
448,177 |
|
$ |
72,137 |
|
$ |
66,905 |
|
$ |
— |
|
|
$ |
587,219 |
|
Interest income |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(373 |
) |
|
$ |
(373 |
) |
Interest expense |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
28,819 |
|
|
$ |
28,819 |
|
Income (loss) before income taxes |
$ |
359,995 |
|
$ |
47,271 |
|
$ |
39,546 |
|
$ |
(28,446 |
) |
|
$ |
418,366 |
|
|
|
|
|
|
|
|
|
|
|
|||||||
For the nine months ended February 29, 2024 |
|
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
5,554,009 |
|
$ |
789,696 |
|
$ |
781,975 |
|
$ |
— |
|
|
$ |
7,125,680 |
|
Gross margin |
$ |
2,671,987 |
|
$ |
438,824 |
|
$ |
360,156 |
|
$ |
— |
|
|
$ |
3,470,967 |
|
Selling and administrative expenses |
$ |
1,445,440 |
|
$ |
262,996 |
|
$ |
241,492 |
|
$ |
— |
|
|
$ |
1,949,928 |
|
Interest income |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(2,121 |
) |
|
$ |
(2,121 |
) |
Interest expense |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
76,664 |
|
|
$ |
76,664 |
|
Income (loss) before income taxes |
$ |
1,226,547 |
|
$ |
175,828 |
|
$ |
118,664 |
|
$ |
(74,543 |
) |
|
$ |
1,446,496 |
|
|
|
|
|
|
|
|
|
|
|
|||||||
For the nine months ended February 28, 2023 |
|
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
5,123,924 |
|
$ |
701,740 |
|
$ |
705,634 |
|
$ |
— |
|
|
$ |
6,531,298 |
|
Gross margin |
$ |
2,418,438 |
|
$ |
354,698 |
|
$ |
311,454 |
|
$ |
— |
|
|
$ |
3,084,590 |
|
Selling and administrative expenses |
$ |
1,324,577 |
|
$ |
221,086 |
|
$ |
207,061 |
|
$ |
— |
|
|
$ |
1,752,724 |
|
Interest income |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(872 |
) |
|
$ |
(872 |
) |
Interest expense |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
85,459 |
|
|
$ |
85,459 |
|
Income (loss) before income taxes |
$ |
1,093,861 |
|
$ |
133,612 |
|
$ |
104,393 |
|
$ |
(84,587 |
) |
|
$ |
1,247,279 |
|
Cintas Corporation Consolidated Condensed Balance Sheets (In thousands except per share data) |
|||||||
|
February 29,
|
|
May 31,
|
||||
|
(Unaudited) |
|
|
||||
ASSETS |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
128,483 |
|
|
$ |
124,149 |
|
Accounts receivable, net |
|
1,262,077 |
|
|
|
1,152,993 |
|
Inventories, net |
|
451,215 |
|
|
|
506,604 |
|
Uniforms and other rental items in service |
|
1,025,597 |
|
|
|
1,011,918 |
|
Prepaid expenses and other current assets |
|
163,624 |
|
|
|
142,795 |
|
Total current assets |
|
3,030,996 |
|
|
|
2,938,459 |
|
|
|
|
|
||||
Property and equipment, net |
|
1,505,810 |
|
|
|
1,396,476 |
|
|
|
|
|
||||
Investments |
|
294,261 |
|
|
|
247,191 |
|
Goodwill |
|
3,212,432 |
|
|
|
3,056,201 |
|
Service contracts, net |
|
335,863 |
|
|
|
346,574 |
|
Operating lease right-of-use assets, net |
|
186,514 |
|
|
|
178,464 |
|
Other assets, net |
|
412,999 |
|
|
|
382,991 |
|
|
$ |
8,978,875 |
|
|
$ |
8,546,356 |
|
|
|
|
|
||||
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Accounts payable |
$ |
307,941 |
|
|
$ |
302,292 |
|
Accrued compensation and related liabilities |
|
182,669 |
|
|
|
239,086 |
|
Accrued liabilities |
|
720,545 |
|
|
|
632,504 |
|
Income taxes, current |
|
18,310 |
|
|
|
12,470 |
|
Operating lease liabilities, current |
|
44,430 |
|
|
|
43,710 |
|
Total current liabilities |
|
1,273,895 |
|
|
|
1,230,062 |
|
|
|
|
|
||||
Long-term liabilities: |
|
|
|
||||
Debt due after one year |
|
2,474,908 |
|
|
|
2,486,405 |
|
Deferred income taxes |
|
481,177 |
|
|
|
498,356 |
|
Operating lease liabilities |
|
146,060 |
|
|
|
138,278 |
|
Accrued liabilities |
|
368,752 |
|
|
|
329,269 |
|
Total long-term liabilities |
|
3,470,897 |
|
|
|
3,452,308 |
|
|
|
|
|
||||
Shareholders’ equity: |
|
|
|
||||
Preferred stock, no par value: |
— |
|
— |
||||
100,000 shares authorized, none outstanding |
|
|
|
|
|||
Common stock, no par value, and paid-in capital: |
2,246,329 |
|
2,031,542 |
||||
425,000,000 shares authorized |
|||||||
FY 2024: 193,090,252 issued and 101,444,090 outstanding |
|||||||
FY 2023: 192,198,938 issued and 101,732,148 outstanding |
|
|
|
|
|
|
|
Retained earnings |
|
10,341,248 |
|
|
|
9,597,315 |
|
Treasury stock: |
|
(8,439,817 |
) |
|
|
(7,842,649 |
) |
FY 2024: 91,646,162 shares |
|||||||
FY 2023: 90,466,790 shares |
|||||||
Accumulated other comprehensive income |
|
86,323 |
|
|
|
77,778 |
|
Total shareholders’ equity |
|
4,234,083 |
|
|
|
3,863,986 |
|
|
$ |
8,978,875 |
|
|
$ |
8,546,356 |
|
Cintas Corporation Consolidated Condensed Statements of Cash Flows (Unaudited) (In thousands) |
|||||||
|
Nine Months Ended |
||||||
|
February 29,
|
|
February 28,
|
||||
Cash flows from operating activities: |
|
|
|
||||
Net income |
$ |
1,157,277 |
|
|
$ |
1,001,809 |
|
|
|
|
|
||||
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
||||
Depreciation |
|
207,637 |
|
|
|
190,801 |
|
Amortization of intangible assets and capitalized contract costs |
|
119,815 |
|
|
|
113,281 |
|
Stock-based compensation |
|
84,490 |
|
|
|
75,334 |
|
Deferred income taxes |
|
(21,366 |
) |
|
|
22,001 |
|
Change in current assets and liabilities, net of acquisitions of businesses: |
|
|
|
||||
Accounts receivable, net |
|
(109,040 |
) |
|
|
(132,473 |
) |
Inventories, net |
|
55,834 |
|
|
|
(60,563 |
) |
Uniforms and other rental items in service |
|
(9,060 |
) |
|
|
(85,991 |
) |
Prepaid expenses and other current assets and capitalized contract costs |
|
(104,873 |
) |
|
|
(116,842 |
) |
Accounts payable |
|
5,771 |
|
|
|
32,851 |
|
Accrued compensation and related liabilities |
|
(58,511 |
) |
|
|
(32,666 |
) |
Accrued liabilities and other |
|
52,945 |
|
|
|
17,856 |
|
Income taxes, current |
|
5,822 |
|
|
|
18,793 |
|
Net cash provided by operating activities |
|
1,386,741 |
|
|
|
1,044,191 |
|
|
|
|
|
||||
Cash flows from investing activities: |
|
|
|
||||
Capital expenditures |
|
(307,558 |
) |
|
|
(224,116 |
) |
Purchases of investments |
|
(7,592 |
) |
|
|
(4,618 |
) |
Acquisitions of businesses, net of cash acquired |
|
(185,028 |
) |
|
|
(32,983 |
) |
Other, net |
|
(3,100 |
) |
|
|
(6,894 |
) |
Net cash used in investing activities |
|
(503,278 |
) |
|
|
(268,611 |
) |
|
|
|
|
||||
Cash flows from financing activities: |
|
|
|
||||
Payments of commercial paper, net |
|
— |
|
|
|
(62,200 |
) |
Repayment of debt |
|
(13,450 |
) |
|
|
— |
|
Proceeds from exercise of stock-based compensation awards |
|
1,275 |
|
|
|
2,941 |
|
Dividends paid |
|
(393,310 |
) |
|
|
(332,421 |
) |
Repurchase of common stock |
|
(468,146 |
) |
|
|
(370,917 |
) |
Other, net |
|
(5,839 |
) |
|
|
(11,996 |
) |
Net cash used in financing activities |
|
(879,470 |
) |
|
|
(774,593 |
) |
|
|
|
|
||||
Effect of exchange rate changes on cash and cash equivalents |
|
341 |
|
|
|
(2,895 |
) |
|
|
|
|
||||
Net increase (decrease) in cash and cash equivalents |
|
4,334 |
|
|
|
(1,908 |
) |
Cash and cash equivalents at beginning of period |
|
124,149 |
|
|
|
90,471 |
|
Cash and cash equivalents at end of period |
$ |
128,483 |
|
|
$ |
88,563 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240327195550/en/
J. Michael Hansen, Executive Vice President & Chief Financial Officer - 513-972-2079
Jared S. Mattingley, Vice President, Treasurer & Investor Relations - 513-972-4195
Source: Cintas Corporation
FAQ
What was Cintas 's (CTAS) revenue growth rate for the third quarter of fiscal 2024?
What was the increase in Cintas 's (CTAS) gross margin for the third quarter of fiscal 2024?
How much did Cintas 's (CTAS) net income increase by in the third quarter of fiscal 2024?
What was the percentage increase in Cintas 's (CTAS) diluted EPS for the third quarter of fiscal 2024?
Did Cintas (CTAS) raise its full fiscal year financial guidance?
