- Cintas Corp (NASDAQ:CTAS) reported second-quarter revenue growth of 9.4% year-over-year to $1.92 billion and +9.3% on an organic basis, beating the consensus of $1.90 billion. EPS of $2.76 beat the consensus of $2.65.
- The operating income increased 8% Y/Y to $381.23 million, and the margin contracted by 25 bps to 19.8%. Total gross margin declined 70 bps to 46%.
- Cintas generated cash from operating activities year-to-date of $593.78 million, compared to $572.96 million a year ago. Free cash flow was $485.15 million.
- The company held $113.17 million in cash and equivalents as of November 30, 2021.
- FY22 Outlook: Cintas increased its revenue expectations to $7.63 billion - $7.70 billion (prior $7.58 billion - $7.67 billion) versus the consensus of $7.65 billion.
- It sees EPS of $10.70 - $10.95 (previous $10.60 - $10.90), below the consensus of $10.97.
- Price Action: CTAS shares are trading lower by 2.32% at $426.65 on the last check Wednesday.
