Categories AlphaGraphs, Earnings, LATEST, Other Industries

Earnings: Cintas Q4 results top Street view; stock jumps

Corporate uniform marker Cintas (Nasdaq: CTAS) reported strong revenue and earnings growth for the fourth quarter. The results also surpassed the estimates and the company’s stock moved up sharply following the report.

Cintas Q4 adj. earnings surge 17% as revenues grow 7%

Net profit from continuing operations, adjusted for non-recurring items, moved up to $2.07 per share in the fourth quarter from $1.77 per share a year earlier.  Analysts were looking for slower growth.

Reported net income from continuing operations increased to $226.6 million or $2.06 per share from $189.3 million or $1.68 per share in the fourth quarter of 2018.

Supported by strong sales across all the business segments, revenues moved up 7.4% to $1.79 billion during the three-month period and surpassed analysts’ prediction. The Uniform Rental and Facility Services segment registered a 6.8% organic sales growth, while First Aid and Safety Services recorded a 10.7% gain.

Supported by strong sales, revenues moved up 7.4% to $1.79 billion during the three-month period

Scott Farmer, chief executive officer of Cintas, said, “For the ninth consecutive year, our organic revenue growth was in the mid- to high- single digits and EPS grew double digits when adjusted for one-time and special items. Additionally, our strong cash flow and balance sheet enabled us to deploy cash to increase shareholder value.”

Also see: Cintas Q2 2019 Earnings Conference Call Transcript

The management expects full-year 2020 revenues to be between $7.24 billion and $7.31 billion. Full-year earnings from continuing operations are currently forecast in the range of $8.30 per share to $8.45 per share. The current fiscal year contains one less workday than fiscal 2019, which negatively impacts revenue growth by 40 basis points, according to the company.

Cintas shares have maintained a steady uptrend after hitting a low in the final weeks of last year, gaining about 45% since then. The stock climbed to a record high in early trading Tuesday and ended the session higher.  

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

Lyft (LYFT) expects average ride volumes to improve through Q1 2021

Shares of Lyft Inc. (NASDAQ: LYFT) were up 8% in afternoon hours on Wednesday. The stock has gained 53% over the past 12 months and 25% since the beginning of

With new strategy in place, Target looks poised to tap growing online demand

Department store chain Target Corp. (NYSE: TGT), which has been thriving on the pandemic-driven shopping boom since early last year, maintained its strong performance during the holiday season and entered

Infographic: Dollar Tree’s (DLTR) performance in Q4

Dollar Tree (NYSE: DLTR) reported fourth-quarter financial results before the opening bell on Wednesday. The discount store reported a 7% increase in Q4 net sales to $6.7 billion. The company

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top