Cintas Posts Q2 Beat, 2022 EPS Guidance Disappoints
December 23 2021 - 02:21AM
TipRanks
Shares of Cintas Corporation (CTAS) fell 1.8% to close at $428.89
on Wednesday after the provider of corporate identity uniforms
through rental and sales programs posted disappointing Fiscal 2022
earnings guidance. Meanwhile, the company reported upbeat fiscal
second-quarter 2022 results (ended November 30). Results in
Detail Cintas reported earnings of $2.76 per share, beating
the consensus estimate of $2.64. The company reported adjusted
earnings of $2.37 per share in the same quarter last year.
Total revenue of $1.92 billion grew 9.4% year-over-year and topped
analysts’ expectations of $1.9 billion. Gross margin came in
at 46%, down 70 basis points year-over-year on the back of higher
labor and energy-related expenses.
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Cintas (NASDAQ:CTAS)
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