Cintas (NASDAQ:CTAS), the Cincinnati-based uniform-rental service, has reported a significant profit of $385.1 million, exceeding FactSet's expectations due to improved gross margins and lower fuel costs. The announcement came on Tuesday, marking an impressive 8.1% increase in revenue for the company.
In addition, the company has revised its previous guidance for the year. Schneider, a senior representative from Cintas, now expects an annual revenue between $9.4 billion to $9.52 billion, up from the prior estimate of $9.35 billion to $9.5 billion. This change has been attributed to robust volume growth within the company.
Furthermore, Schneider also anticipates an increase in earnings per share (EPS), with a new range expected to be between $14 to $14.45, up from the previous guidance of $13.85 to $14.35 per share.
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