Cintas: Fiscal 4Q Earnings Snapshot
CINCINNATI (AP) _ Cintas Corp. (CTAS) on Thursday reported fiscal fourth-quarter profit of $186.2 million.
On a per-share basis, the Cincinnati-based company said it had net income of $1.66. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $1.77 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.67 per share.
The uniform rental company posted revenue of $1.67 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $1.64 billion.
For the year, the company reported profit of $842.6 million, or $7.56 per share. Revenue was reported as $6.48 billion.
Cintas expects full-year earnings in the range of $7 to $7.15 per share, with revenue in the range of $6.75 billion to $6.82 billion.
Cintas shares have climbed 24 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 5 percent. In the final minutes of trading on Thursday, shares hit $193.68, an increase of 54 percent in the last 12 months.