Cintas Results Top Estimates; Lifts FY Guidance

(RTTNews) - Corporate uniform supplier Cintas Corp (CTAS) on Thursday reported first-quarter net earnings of $100.2 million or $0.88 per share compared with $110.1 million or $0.93 per share last year.

Earnings from continuing operations for the quarter were $0.93 per share.

Revenues for the quarter were up 8.8% at $1.2 billion compared with $1.1 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.90 per share on revenues of $1.17 billion for the quarter. Analysts' estimates typically exclude special items.

Operating margin improved to 15.5% from 14.8% last year.

For the full year 2016, the company now expects adjusted earnings of $3.79 to $3.88 per share on revenues of $4.80 billion to $4.88 billion. Earlier it expected earnings of $3.74 to $3.83 per share on revenues of $4.70 billion to $4.78 billion.

Analysts expect earnings of $3.85 per share on revenues of $4.78 billion for the year.

The company said the updated guidance reflects its first quarter results and the recent acquisition of Zee Medical.