Cintas Increases Financial Guidance

(RTTNews) - While reporting quarterly results on Wednesday, Cintas Corp. (CTAS) said it expects fourth quarter revenue to be in the range of $1.96 billion to $2.02 billion and EPS to be in the range of $2.54 to $2.74. Effective tax rate is projected to be approximately 23.2%, and is anticipated to negatively impact fourth quarter EPS guidance by approximately $0.14.

Excluding items, third quarter EPS was $2.69 compared to $2.37, a year ago, a 13.5% increase. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $2.43, for the quarter. Analysts' estimates typically exclude special items.

Net income was $315.4 million compared to $258.4 million, prior year. Third quarter EPS was $2.97 compared to $2.37.

Revenue for the third quarter was $1.96 billion compared to $1.78 billion, an increase of 10.3%. The organic revenue growth rate was 10.0%, for the quarter. Analysts on average had estimated $1.91 billion in revenue.