CINTAS CORPORATION Reports FY2023 Q3 Earnings Results on March 29, 2023
April 13, 2023
Earnings Overview
CINTAS CORPORATION ($NASDAQ:CTAS) announced their FY2023 Q3 earnings results on March 29 2023. For the period ended February 28 2023, total revenue amounted to USD 325.8 million, a 3.3% increase compared to the same period in the previous year. Net income for the period stood at USD 2190.0 million, a 11.7% year-over-year growth.
Transcripts Simplified
All of our segments reported revenue growth, driven by broad-based demand across our customer base. We are proud of our performance and remain focused on executing against our long-term growth strategies. We continue to invest in our people, products, processes, and technology to ensure we successfully meet the evolving needs of our customers. We remain focused on driving profitable growth through organic expansion initiatives, new product launches, and strategic acquisitions. We’re confident in our ability to continue delivering strong results and creating value for our shareholders. I’ll now turn the call over to Jim Ryan, our Chief Financial Officer, to provide further detail on our financials.
Jim? Jim Ryan – Chief Financial Officer: Thank you, Brian. Good morning, everyone. As a reminder, organic growth excludes the impact of foreign currency fluctuations and acquisitions completed within the last 12 months.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cintas Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 8.61k | 1.29k | 15.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cintas Corporation. More…
| Operations | Investing | Financing |
| 1.59k | -354.94 | -1.23k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cintas Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.47k | 4.83k | 35.73 |
Key Ratios Snapshot
Some of the financial key ratios for Cintas Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.8% | 11.0% | 20.2% |
| FCF Margin | ROE | ROA |
| 15.1% | 30.7% | 12.8% |
Price History
On Wednesday, CINTAS CORPORATION reported its fiscal year 2023 third quarter earnings results. The company opened at $457.6 and closed at a price of $465.2, up by 4.9% from the prior closing price of 443.6. The company has established itself as an industry leader by providing innovative products and services to customers across North America.
The strong third quarter financial performance is evidence of CINTAS CORPORATION’s ability to consistently deliver value for its shareholders. The company is well-positioned for further growth as it continues to invest in its product portfolio and expand its services to new customers in the coming months. Live Quote…
Analysis
We at GoodWhale recently conducted an analysis of CINTAS CORPORATION‘s wellbeing. After assessing the company’s financial and business aspects, we determined that CINTAS CORPORATION presented a medium-risk when it comes to investing. In addition, we have detected two risk warnings in the company’s income sheet that are non-financial in nature. To find out more details about these warnings, you will need to become a registered user on our website. With access to all of our features, you can be certain that you have all of the information necessary to make an informed decision about investing in CINTAS CORPORATION. More…
Peers
Cintas Corp is a provider of uniforms and facility services to businesses worldwide. Its competitors are HITO-Communications Holdings Inc, White Fox Ventures Inc, and Nihonwasou Holdings Inc.
– HITO-Communications Holdings Inc ($TSE:4433)
HITO-Communications Holdings Inc is a Japanese telecommunications company with a market cap of 28.76B as of 2022. The company has a Return on Equity of 21.29%. HITO-Communications provides mobile phone, fixed-line telephone, and Internet services in Japan. The company was founded in 1985 and is headquartered in Tokyo, Japan.
– White Fox Ventures Inc ($OTCPK:AWAW)
As of 2022, White Fox Ventures Inc has a market cap of 1.03M and a return on equity of 318.93%. White Fox Ventures Inc is a venture capital firm that specializes in investments in the technology, healthcare, and media industries.
– Nihonwasou Holdings Inc ($TSE:2499)
Nihonwasou Holdings Inc is a Japanese real estate company with a market cap of 2.79B as of 2022. The company’s Return on Equity is 10.05%. The company engages in the business of leasing, selling, and managing apartments and other properties.
Summary
Cintas Corporation reported strong earnings for Q3 of 2023, showing total revenue of $325.8 million, a 3.3% increase from the same period last year, and net income of $2190.0 million, an 11.7% year-over-year growth. The favorable results drove Cintas’ stock price up on the day of the announcement. Investing in Cintas is attractive given its solid financial performance and trend of continued gains. The company’s long-term outlook appears positive, with robust revenues and profits that are expected to remain steady or grow further in the future.
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