Cintas Corporation Earnings: CTAS Stock Up 3% After Beating Q2 Estimates

CTAS beat EPS and revenue estimates

Cintas Corporation (NASDAQ:CTAS) earnings for the business services company’s fiscal second quarter of 2020 have CTAS stock up in after-hours trading on Tuesday. That follows its adjusted EPS of $2.27 on revenue of $1.84 billion. For comparison, Wall Street was looking for $2.03 per share and revenue of $1.82 billion.

Cintas Corporation Earnings: CTAS Stock Up 3% After Beating Q2 Estimates
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Here are some highlights from the most recent Cintas Corporation earnings report.

  • Adjusted earnings per share come in 28.98% higher than the $1.76 from the same time last year.
  • Revenue for the quarter is up 7.30% from $1.72 billion in the fiscal second quarter of 2019.
  • Operating income of $334.46 million comes in 21.30% higher YoY from $275.64 million.
  • The Cintas Corporation earnings report also has net income coming in at $246.12 million.
  • That’s 1.30% better than the company’s net income of $243.01 million from the same period of the year prior.

Scott Farmer, Chairman and CEO of Cintas Corporation, says this about the CTAS stock earnings.

“We are pleased with our second quarter and year-to-date performance. 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.”

The Cintas Corporation earnings report also includes an outlook for fiscal 2020. In that is adjusted EPS ranging from $8.65 to $8.75. It also expects revenue to come in between $7.29 billion and $7.33 billion. Wall Street is looking for $8.61 per share and revenue of $7.31 billion.

CTAS stock was up 2.78%% after markets closed on Tuesday. The stock finished out the day largely unchanged from its previous close.

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/2019/12/cintas-corporation-earnings-ctas-stock-up-3-after-beating-q2-estimates/.

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