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Cintas Earnings: CTAS Stock Drops 1% Despite Q3 Beat

Cintas (NASDAQ:CTAS) earnings for fiscal third quarter of 2020 have CTAS stock down after-hours Thursday. This comes after reporting diluted earnings per share (EPS) of $2.16. That’s better than Wall Street’s estimate of $2.02 for the quarter. The business services company’s revenue of $1.81 billion also beats analysts’ estimates of $1.8 billion.

Cintas Earnings: CTAS Stock Drops 1% Despite Q3 Beat

Source: Sundry Photography / Shutterstock.com

The following are some additional highlights to note from the most recent Cintas earnings report.

  • Diluted per-share earnings are up 16.76% from $1.85 during the same period of the year prior.
  • Revenue for the quarter comes in 7.74% higher than the $1.68 billion in fiscal Q3 2019.
  • Operating income of $314.65 million is a 13.08% increase year-over-year from $278.26 million.
  • The Cintas earnings report also has it bringing in a net income of $234.52 million.
  • That’s a 15.34% increase compared to the company’s net income of $203.33 million from the same time last year.

A conference call with leaders of the company will have them going over the Cintas earnings report. This conference call will take place at 5:00 p.m. Eastern Time. Anyone can listen in via a webcast that will be available on the company’s website.

While it’s still unknown what all Cintas will go over in the conference call, it will likely mention effects from the coronavirus from China. This may see the company following the recent examples of others and suspending its guidance for the fiscal year.

CTAS stock was down 1.37% after-hours Thursday but closed out the day up 2.82%.

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/2020/03/cintas-earnings-dip-ctas-stock-despite-beat/.

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