Cintas Corporation Announces Fiscal 2022 Third Quarter Results

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。



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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