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Cintas Earnings: CTAS Stock Surges as Profit Gains Nearly 20%

Cintas (NASDAQ:CTAS) unveiled its latest quarterly figures late on Tuesday, amassing a profit that surpassed the same metric year-over-year, while revenue surged more than 7%, lifting CTAS stock.

Cintas Earnings
Source: Shutterstock

The Cincinnati, Ohio-based business announced fourth-quarter earnings of $226.6 million, or $2.06 per share. This marked a 19.7% gain when compared to its profit of $189.3 million, or $1.68 per share year-over-year.

Cintas added that its net profit from continuing operations, when adjusted for non-recurring items, tallied up to $2.07 per share, nearly 17% higher than the earnings from the year-ago period. This was higher than the growth that Wall Street predicted.

Revenue impressed as well, increasing 7.4% to $1.79 billion during the three months that made up the period, topping analysts’ prediction. This metric was backed by strong sales in numerous business segments, including its Uniform Rental and Facility Services segment, which was an organic sales growth of 6.8%.

Plus, the company’s First Aid and Safety Services increased 10.7% year-over-year. “For the ninth consecutive year, our organic revenue growth was in the mid- to high- single digits and EPS grew double digits when adjusted for one-time and special items,” per CEO Scott Farmer.

“Additionally, our strong cash flow and balance sheet enabled us to deploy cash to increase shareholder value.” Cintas’ management calls for 2020 sales in the range of $7.24 billion to $7.31 billion.

CTAS stock surged 6.3% after hours today.

Article printed from InvestorPlace Media, https://investorplace.com/2019/07/cintas-earnings-ctas-stock-2/.

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