Cintas (NASDAQ:CTAS) earnings for the business service company’s fiscal first quarter of 2021 have CTAS stock unmoving after-hours Wednesday. This comes after reporting diluted earnings per share of $2.78. That’s well above Wall Street’s estimate of $2.13 per share. Its revenue of $1.75 billion also beats out analysts’ estimates of $1.7 billion.
Here’s what else is worth mentioning from the most recent Cintas earnings report.
- Diluted per-share earnings are up 19.8% from $2.32 in the same period of the year prior.
- Revenue for the quarter is sitting 3.6% lower than the $1.81 billion reported in the fiscal first quarter of 2020.
- Operating income of $349.7 million is a 14.2% increase year-over-year from $306.1 million.
- The Cintas earnings report also includes a net income of $300 million.
- That’s a 19.6% jump from the company’s net income of $250.8 million reported during the same time last year.
Scott Farmer, chairman and CEO of Cintas, said the following in the earnings report.
“The COVID-19 coronavirus (COVID-19) pandemic remains a significant disruption to the economy and our business. Our objectives include keeping our employees, whom we call partners, healthy and safe and serving our customers in any way possible. I am pleased with our performance on both priorities, and I thank our employee-partners for their unwavering passion, strong work ethic, and commitment.”
Cintas includes guidance for fiscal Q2 2021 in its earnings report. It expects diluted earnings per share of $2 to $2.20 on revenue of $1.725 billion to $1.750 billion. For comparison, Wall Street is looking for diluted EPS of $2.06 on revenue of $1.75 billion for the quarter.
CTAS stock was up 1.5% after-hours Wednesday before trading halted.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
