Cintas Earnings: CTAS Stock Shoots 5% Higher on Q1 Beat

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Cintas (NASDAQ:CTAS) earnings for the company’s fiscal first quarter of 2020 has CTAS stock on its way up Wednesday. This is thanks to its earnings per share of $2.32 on revenue of $1.81 billion. These both beat out Wall Street’s estimates of $2.15 and $1.79 billion for the period.

Cintas Earnings: CTAS Stock Shoots 5% Higher on Q1 Beat

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Here are some more highlights from the most recent Cintas earnings report.

  • CTAS saw its earnings per share for the quarter increase almost 23% from the $1.89 reported in the same period of the year prior.
  • Revenue for the quarter was up 6.70% YoY.
  • The Cintas earnings report also has gross margin for its fiscal first quarter increasing 9.6% to $849.10 million.
  • Gross margin, as a percentage of revenue, comes in at 46.90%.
  • Gross margin, as a percentage of revenue, from the same time last year was 45.60%.
  • Operating income for the quarter is up 15.4% from last year to $306.10 million
  • Cintas earnings also include net income of $250.80 million for its fiscal first quarter of the year, which is up 18% YoY.

Scott Farmer, CTAS Chairman and CEO, has this to say about the Cintas earnings report.

“We are pleased with our start to fiscal 2020. Our employee-partners continue to execute well on our game plan and on our important initiatives, and we look forward to another successful year.”

The Cintas earnings report also includes an update to its fiscal 2020 outlook. The company is now expecting earnings per share between $8.47 and $8.57 with revenue ranging from $7.28 billion to $7.32 billion. The previous guidance was for earnings per share and revenue ranging from $7.24 billion to $7.31 billion and $8.30 to $8.45. For comparison, Wall Street is looking for earnings per share of $8.45 on revenue of $7.30 billion for fiscal 2020.

CTAS stock was up 5.9% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/09/cintas-earnings-send-ctas-stock-up/.

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