CINCINNATI - Cintas Corporation (NASDAQ:CTAS) reported a positive earnings surprise in its fiscal 2024 fourth quarter, with a $0.20 beat over analyst estimates.
The company announced a diluted earnings per share (EPS) of $3.99, surpassing the consensus of $3.79. Revenue for the quarter also aligned with expectations at $2.47 billion.
The uniform rental and facility services provider saw its shares inch up by 0.45% following the announcement. This slight uptick reflects investor satisfaction with the company's performance, which included a robust 8.2% increase in revenue compared to the same quarter last year.
President and CEO Todd M. Schneider attributed the strong quarter to "robust revenue growth and margin expansion," highlighting an all-time high in operating income as a percentage of revenue. He also emphasized the company's balanced capital allocation strategy and investments in technology and acquisitions.
Looking ahead, Cintas provided guidance for fiscal 2025, projecting diluted EPS to range between $16.25 and $16.75. This forecast brackets the analyst consensus of $16.43. The company's revenue outlook for fiscal 2025 is expected to be between $10.16 billion and $10.31 billion, considering two fewer workdays compared to fiscal 2024.
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