Cintas (CTAS) Lowers Q4 Guidance
CTAS Hot Sheet
Revenue Growth %: +7.7%Financial Fact:
Rental uniforms and ancillary products: 2.16B
Today's EPS Names:
TARO, BRLI, TLB, More
Cintas Corporation (Nasdaq: CTAS) expects Q4 revenue to be between $870 million and $885 million and EPS of $0.34-$0.38, below the consensus of $923 million and $0.47.
Cintas said results will include a restructuring charge to be recognized in the quarter due to the declining economic conditions which continue to impact the North American economy and Cintas’ businesses.
In announcing the fourth quarter estimate, Scott Farmer, Cintas Chief Executive Officer stated, "The U.S. economy continues to lose employment at a rapid rate, directly impacting our customers and prospects. The suddenness and severity of U.S. job losses over the past several months has resulted in the need for Cintas to take additional cost reduction measures. While we expect the economy to ultimately recover, we are uncertain as to when or at what rate this recovery will occur."
Cintas said results will include a restructuring charge to be recognized in the quarter due to the declining economic conditions which continue to impact the North American economy and Cintas’ businesses.
In announcing the fourth quarter estimate, Scott Farmer, Cintas Chief Executive Officer stated, "The U.S. economy continues to lose employment at a rapid rate, directly impacting our customers and prospects. The suddenness and severity of U.S. job losses over the past several months has resulted in the need for Cintas to take additional cost reduction measures. While we expect the economy to ultimately recover, we are uncertain as to when or at what rate this recovery will occur."
You May Also Be Interested In
- UPDATE: Bristow Group (BRS) Reports Better-Than-Expected Q4 Results; Offers FY13 Outlook
- Hewlett-Packard Company (HPQ) Tops Q2 EPS by 7c; Guides Q3 Below the Street, Raises FY12 Outlook
- Mentor Graphics Corp (MENT) Beats Q1 EPS View by 5c; Lifts FY13 Outlook
Create E-mail Alert Related Categories
Guidance, Hot ListRelated Entities
LayoffsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
