Cintas Corp. Raises FY24 Guidance - Update

(RTTNews) - Cintas Corp. (CTAS), a provider of corporate identity uniforms and related business services, while announcing higher earnings and revenues in its second quarter, on Thursday raised its fiscal 2024 earnings and revenue guidance.

For the year, the company now expects earnings per share of $14.35 to $14.65.

The company had previously expected earnings per share of $14.00 to $14.45.

On average, 16 analysts polled by Thomson Reuters expect earnings of $14.46 per share for the year. Analysts' estimates typically exclude special items.

In its second quarter, the company's earnings totaled $374.61 million, or $3.61 per share, compared to $324.29 million, or $3.12 per share, in last year's second quarter.

Analysts had expected the company to earn $3.49 per share.

Cintas's revenue for the quarter rose 9.7% to $2.38 billion from $2.17 billion last year.

In pre-market activity, Cintas shares are trading at $567.90, up 2.57% on the Nasdaq.

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