Cintas Corporation CTAS reported fourth-quarter FY23 sales growth of 10.1% year-on-year to $2.28 billion, beating the analyst consensus of $2.26 billion.
Organic revenue growth rate, which adjusts for the impacts of acquisitions and foreign currency exchange rate fluctuations, was 10.3% for the quarter.
Gross margin expanded by 210 basis points Y/Y to 47.7% in the quarter.
Operating income increased 16.4% to $470.8 million, while the operating margin expanded by 110 basis points to 20.6%.
EPS of $3.33 beat the analyst consensus of $3.19.
The company held $124.1 million in cash and equivalents as of May 31, 2023. Net cash provided by operations for twelve months totaled $1.6 billion.
Outlook: Cintas sees FY24 revenue of $9.35 billion - $9.50 billion, against the consensus of $9.39 billion.
The company sees FY24 EPS of $13.85 - $14.35 versus the consensus of $14.29.
Price Action: CTAS shares are trading lower by 0.18% at $492.18 on the last check Thursday.
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