CINCINNATI, March 23, 2022 -- Cintas Corporation(Nasdaq: CTAS) today reported results for its fiscal 2022 third quarter ended February 28, 2022. Revenue for the third quarter of fiscal 2022 was $1.96 billion compared to $1.78 billion in last year’s third quarter, an increase of 10.3%. The organic revenue growth rate for the third quarter of fiscal 2022, which adjusts for the impacts of acquisitions, divestitures and foreign currency exchange rate fluctuations, was 10.0%.
Net income was $315.4 million for the third quarter of fiscal 2022 compared to $258.4 million in last year's third quarter. Third quarter of fiscal 2022 diluted earnings per share (EPS) was $2.97 compared to $2.37 in last year's third quarter. Fiscal 2022 third quarter diluted EPS contained $0.28 from the gain on an equity method investment transaction, which included a related $0.07 tax rate benefit. Excluding this gain and the related tax impact, fiscal 2022 third quarter diluted EPS was $2.69 compared to $2.37 in last year's third quarter, a 13.5% increase from last year's diluted EPS.
Todd M. Schneider, Cintas' President and Chief Executive Officer, stated, "We are pleased with our third quarter financial results, led by a revenue increase of 10.3%. Excluding the gain previously mentioned, operating income and diluted EPS increased significantly despite inflation. Our financial results are indicative of our strong value proposition. Businesses prioritize image, cleanliness, safety and compliance and, challenged with labor scarcity and rising costs, increasingly count on Cintas to help get them准备好for the Workday®."
Mr. Schneider concluded, "We are increasing our financial guidance. We expect our fiscal 2022 fourth quarter revenue to be in the range of $1.96 billion to $2.02 billion and diluted EPS to be in the range of $2.54 to $2.74. Our fourth quarter fiscal 2022 effective tax rate is expected to be approximately 23.2% compared to a rate of 19.4% for last year's fourth quarter. The expected higher effective tax rate is anticipated to negatively impact fiscal 2022 fourth quarter diluted EPS guidance by approximately $0.14 and diluted EPS growth by approximately 560 basis points. Our financial guidance includes share buybacks through March 22, 2022 but does not include the impact of any future share buybacks."
Cintas Corporation helps more than one million businesses of all types and sizes get准备好™每天通过提供产品和服务来充满信心地打开他们的门，以帮助保持客户的设施和员工清洁，安全并保持最佳状态。提供包括制服，垫子，拖把，洗手间用品，急救和安全产品，消防员和测试以及安全培训的产品，Cintas可帮助客户获得准备好for the Workday®. The Company is also the creator of the Total Clean Program™- 首先的服务，包括计划提供必需的清洁用品，卫生清洁洗钱以及消毒和消毒产品和服务。Cintas总部位于辛辛那提（Cincinnati），是一家公开持有的财富500强公司，该公司在符号CTA的符号下以纳斯达克全球精选市场交易，并且是标准和穷人500指数和NASDAQ-100指数的组成部分。
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
1995年的《私人证券诉讼改革法》为前瞻性陈述提供了民事诉讼的安全港。前瞻性陈述可以通过诸如“估计”，“预期”，“预测”，“项目”，“计划”，“期望”，“打算”，“目标”，“预测”，“预测”，“相信，相信”，“相信，相信，“相信”，“相信，相信，“预测”，“预测”，“预测”，“预测”，“相信，相信，相信，“相信”，“相信，”，“相信，相信，””“寻求，”，“可以”，“应该”，“可能”和“意志”或其负面版本以及类似的单词，术语和表达方式以及使用它们的上下文。此类陈述是基于当前对Cintas的期望，并且仅在制作之日起说话。您不应过分依赖任何前瞻性陈述。我们不能保证将实现任何前瞻性陈述。这些陈述应面临各种风险，不确定性，可能导致实际结果与本新闻稿中规定或暗示的结果不同的假设和其他因素。可能导致这种差异的因素包括但不限于比预期的运营成本更大的可能性，包括能源和燃料成本；较低的销售量；由于外包趋势而失去客户的损失；收购集成的绩效和成本； fluctuations in costs of materials and labor including increased medical costs; costs and possible effects of union organizing activities; failure to comply with government regulations concerning employment discrimination, employee pay and benefits and employee health and safety; the effect on operations of exchange rate fluctuations, tariffs and other political, economic and regulatory risks; uncertainties regarding any existing or newly-discovered expenses and liabilities related to environmental compliance and remediation; the cost, results and ongoing assessment of internal controls for financial reporting; the effect of new accounting pronouncements; disruptions caused by the inaccessibility of computer systems data, including cybersecurity risks; the initiation or outcome of litigation, investigations or other proceedings; higher assumed sourcing or distribution costs of products; the disruption of operations from catastrophic or extraordinary events including viral pandemics such as the COVID-19 coronavirus; the amount and timing of repurchases of our common stock, if any; changes in federal and state tax and labor laws; and the reactions of competitors in terms of price and service. Cintas undertakes no obligation to publicly release any revisions to any forward-looking statements or to otherwise update any forward-looking statements whether as a result of new information or to reflect events, circumstances or any other unanticipated developments arising after the date on which such statements are made. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the year ended May 31, 2021 and in our reports on Forms 10-Q and 8-K. The risks and uncertainties described herein are not the only ones we may face. Additional risks and uncertainties presently not known to us, or that we currently believe to be immaterial, may also harm our business.
J. Michael Hansen，执行副总裁兼首席财务官-513-972-2079
Paul F. Adler, Vice President - Treasurer & Investor Relations - 513-972-4195