— Cintas (NASDAQ: CTAS) reported its second-quarter 2020 adjusted earnings of $2.27 per share versus $2.03 per share expected.
— Revenue rose by 7.3% to $1.84 billion versus $1.82 billion expected. The organic revenue growth rate, which adjusts for the impacts of acquisitions and foreign currency exchange rate fluctuations, was 7.3%.
— The Uniform Rental and Facility Services segment registered a 5.8% organic sales growth, while First Aid and Safety Services recorded a 10.6% gain.
— Gross margin grew to 46.2% from 45.1% in the previous year quarter.
— Uniform Rental and Facility Services segment gross margin improved 130 basis points, while the First Aid and Safety Services’ gross margin gained 40 basis points.
— Looking ahead into the full year 2020, the company lifted its revenue outlook to the range of $7.29-7.33 billion from the previous range of $7.28-7.32 billion. The consensus estimates revenue of $7.31 billion.
— The earnings from continuing operations guidance are raised to the range of $8.65-8.75 per share from the prior range of $8.47-8.57 per share for the full year. The analysts expect EPS of $8.61 per share.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.