Cintas Reports Strong Q3 Earnings, Raises Full-Year Guidance Significantly

Wednesday, 27 March 2024, 22:30
Cintas (NASDAQ: CTAS) stock soared by 11% today following an exceptional third-quarter earnings report. The company surpassed revenue expectations, recorded a considerable increase in operating income, and saw a substantial rise in earnings per share, prompting a boost in its full-year guidance.
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Cintas Reports Strong Q3 Earnings, Raises Full-Year Guidance Significantly

Cintas Stock Performance

Shares of Cintas (NASDAQ: CTAS) surged 8.3% today after the company's impressive third-quarter results. The revenue rose 9.9% to $2.41 billion, beating estimates. Operating income increased by 16.6% to $520.8 million with a gross margin of 49.4%.

Raising Guidance

The company raised its full-year revenue guidance from $9.48 billion to $9.57 billion to $9.60 billion, and EPS guidance from $14.35 to $14.80 to $15.00.

CEO's Statement

CEO Todd Schneider highlighted the exceptional performance and execution of the company, leading to the improved guidance for the fiscal year.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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