Cintas Nudges Outlook Higher As Q2 Earnings Meet Expectations

From StockNews.com: Cintas Corporation (NASDAQ:CTAS) late Thursday posted second quarter earnings results that match expectations, and slightly lifted its full-year outlook.

The Cincinnati-based company reported adjusted Q2 EPS of $1.15, matching Wall Street’s $1.15 estimate. Revenues rose 6.4% from last year to $1.3 billion, narrowly edging out analysts’ view for $1.29 billion.

Looking ahead, CTAS lifted its full-year EPS forecast to a range of $4.57 to $4.65, up slightly from a prior, $4.55 to $4.63 view. That new estimate straddles Wall Street’s consensus view of $4.61. Cintas also upped its revenue outlook to $5.180 to $5.225 billion, up from $5.160 to $5.225 billion. Analysts are looking for $5.22 billion in revenue for the year.

The company commented via press release:

“This is our 13th consecutive quarter of year-over-year gross margin improvement. This, along with our industry leading organic sales growth, is a reflection of the significant opportunities that exist for us and of the great execution of our employees, whom we call partners.”

Cintas shares fell $4.36 (-3.63%) to $115.73 in after-hours trading Thursday. Prior to today’s report, CTAS had gained 31.89% year-to-date, more than tripling the 10.55% return of the benchmark S&P 500 index during the same period.

CTAS-2016-12-22

Cintas is a leading maker and retailer of corporate identity uniforms for various industries, including police, medical, janitorial, and much more. They also sell business goods such as entrance mats, fire and first aid supplies, and cleaning services.

CTAS currently has a StockNews.com POWR Rating of A (Strong Buy) and is ranked #3 of 59 in the Outsourcing – Business Services category.

This article is brought to you courtesy of StockNews.com.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Powered by WPeMatico