Cintas Corp. (CTAS) Reports Q2 EPS of $1.76, Revenues Beat; Raises FY19 Revenue Guidance Above Consensus

Cintas Corp. (NASDAQ: CTAS) reported Q2 EPS of $1.76, versus $1.31 reported last year. Revenue for the quarter came in at $1.72 billion versus the consensus estimate of $1.7 billion.

Scott D. Farmer, Cintas’ Chairman and Chief Executive Officer, stated, “We are pleased with our second quarter and year-to-date performance. We continue to make significant progress on integrating the G&K acquisition and implementing our enterprise resource planning system. The Company is on pace to achieve another year of strong growth in revenue, earnings, and cash flow generation. I thank our employee-partners for the consistently high execution that helps get our customers Ready for the Workday™.”

Mr. Farmer added, “Earlier this month, on December 7th, we paid an annual dividend of $2.05 per share, an increase of 26.5% over last year’s annual dividend. We have increased the annual dividend for 35 consecutive years. In addition, we increased total shareholder return by executing on the share buyback program. In fiscal 2019, through the end of our second quarter, we have purchased $447 million of Cintas stock under our buyback program.”

Mr. Farmer concluded, “Following our second quarter results, we are increasing our annual guidance for fiscal 2019. We are raising our revenue guidance from a range of $6.80 billion to $6.855 billion to a range of $6.87 billion to $6.91 billion and EPS from continuing operations excluding certain items from a range of $7.19 to $7.29 to a range of $7.30 to $7.38. Fiscal 2019 guidance excludes any future integration expenses related to the acquired G&K business.”

GUIDANCE:

Cintas Corp. sees FY2019 EPS of $7.68-$7.76. Cintas Corp. sees FY2019 revenue of $6.87-6.91 billion, versus the consensus of $6.84 billion.

For earnings history and earnings-related data on Cintas Corp. (CTAS) click here.

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