Cintas Boosts Annual Outlook On Solid Q2 Earnings Beat

Cintas Corporation CTAS reported second-quarter FY23 sales growth of 13% year-on-year to $2.17 billion, beating the consensus of $2.13 billion.
Organic revenue growth rate was 12.8% for the quarter.
Gross margin expanded by 100 basis points Y/Y to 47% in the quarter.
Selling and administrative expenses were $577.5 million. Operating income increased 16.7% to $444.9 million, while the operating margin expanded by 70 basis points to 20.5%.
EPS of $3.12 beat the analyst consensus of $3.03.
The company held $89.8 million in cash and equivalents as of November 30, 2022. Net cash provided by operations for six months totaled $619.1 million, with a free cash flow of $472.7 million.
Outlook: Cintas raised its annual revenue expectations from $8.58 billion - $8.67 billion to $8.67 billion - $8.75 billion, above the consensus of $8.63 billion.
The company boosted the FY23 EPS outlook from $12.30 - $12.65 to $12.50 - $12.80 versus the consensus of $12.58.
Price Action: CTAS shares are trading higher by 2.39% at $454.55 on the last check Wednesday.

Momentum79.23

Growth51.92

Quality83.95

Value4.19

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