Summary
Cintas Corporation reported strong financial results for the first quarter of fiscal year 2025, ending August 31, 2024. Total revenue increased by 6.8% to $2.50 billion, with organic revenue growth at a robust 8.0%, demonstrating the company's ability to expand its market reach and penetrate existing customer relationships. The Uniform Rental and Facility Services segment, the company's largest, saw a 5.9% revenue increase, while the First Aid and Safety Services segment experienced even stronger growth at 12.2%. Net income rose significantly by 17.4% to $452.0 million, translating to a diluted earnings per share (EPS) of $1.10, an increase of 18.3% from the prior year. This improved profitability was driven by operating leverage from revenue growth, efficiency gains in operational costs, and favorable sourcing and productivity initiatives. The company also demonstrated strong operating cash flow generation, providing ample liquidity. Cintas continued its commitment to shareholder returns through consistent dividend payments and active share repurchase programs, reflecting confidence in its ongoing business strategy and financial health.
Financial Highlights
50 data points| Revenue | $2.50B |
| Cost of Revenue | $1.25B |
| Gross Profit | $1.25B |
| SG&A Expenses | $691.10M |
| Operating Income | $561.03M |
| Net Income | $452.03M |
| EPS (Basic) | $1.12 |
| EPS (Diluted) | $1.10 |
| Shares Outstanding (Basic) | 403.38M |
| Shares Outstanding (Diluted) | 410.50M |
Key Highlights
- 1Total revenue for the quarter reached $2.50 billion, a 6.8% increase year-over-year, with organic revenue growth of 8.0%.
- 2Net income grew by 17.4% to $452.0 million, and diluted EPS increased by 18.3% to $1.10.
- 3The Uniform Rental and Facility Services segment revenue increased by 5.9% to $1.93 billion, while First Aid and Safety Services revenue saw a strong 12.2% increase to $292.6 million.
- 4Operating income improved to $561.0 million, representing 22.4% of revenue, up from 21.4% in the prior year, driven by operational efficiencies and leverage.
- 5Cash flow from operating activities was robust at $466.7 million, an increase from $336.9 million in the prior year.
- 6The company declared and paid dividends totaling $138.2 million and repurchased $614.8 million of common stock during the quarter.
- 7Cintas maintains a strong liquidity position with $101.4 million in cash and cash equivalents and access to a $2.0 billion revolving credit facility.