CINTAS CORPORATION Reports FY2024 Q2 Earnings Results for Period Ending November 30 2023

🌥️Earnings Overview

On December 21, 2023, CINTAS CORPORATION ($NASDAQ:CTAS) reported its earnings results for the second quarter of FY2024, ending November 30, 2023. The total revenue for the period was USD 2377.2 million, which marked a 9.3% increase from the same quarter in the prior year. Net income also rose to USD 374.6 million, a 15.5% year-over-year increase.

Share Price

On Thursday, CINTAS CORPORATION reported its financial results for the second quarter of fiscal year 2024, for the period ending November 30, 2023. The company’s stock opened at $577.0 and closed at $590.0, representing a 6.6% increase from its prior closing price of $553.7. Overall, the results reported by CINTAS CORPORATION show strong financial performance and growth compared to the same period last year.

The higher revenue and earnings per share demonstrate the company’s success in increasing efficiency and sales. This positive news is likely to have a positive effect on the stock price of the company in the short-term. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Cintas Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Cintas Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Cintas Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Cintas Corporation are shown below. More…

Analysis

As analysis conducted by GoodWhale, CINTAS CORPORATION is a strong contender in asset, dividend, growth, and profitability. Its ‘gorilla’ classification, indicating that it has achieved steady and high revenue or earnings growth due to its strong competitive advantage, means that it is likely to be attractive to a variety of investors. Additionally, its high health score of 9/10 with respect to its cashflows and debt shows that CINTAS CORPORATION is well-positioned to endure future operations in times of crisis. This means that the company is an attractive option for investors seeking a stable and secure investment. 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

Investors in CINTAS CORPORATION have reason to be pleased as the company reported solid financial results for the second quarter of FY2024. Total revenue increased by 9.3% compared to the same period in the previous year, while net income rose 15.5%. In response to these figures, the stock price moved up on December 21st, showing investors’ confidence in the company’s performance. Going forward, investors should continue to closely monitor the company’s progress in order to make informed decisions about their investments.