Uniform and facility services provider Cintas (NASDAQ: CTAS) will be announcing earnings results this Thursday before market hours. Here’s what you need to know.
Cintas met analysts’ revenue expectations last quarter, reporting revenues of $2.61 billion, up 8.4% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a narrow beat of analysts’ full-year EPS guidance estimates.
Is Cintas a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Cintas’s revenue to grow 6.3% year on year to $2.63 billion, slowing from the 8.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.07 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cintas has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Cintas’s peers in the business services & supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. UniFirst delivered year-on-year revenue growth of 1.2%, missing analysts’ expectations by 0.6%, and MillerKnoll reported revenues up 8.2%, topping estimates by 5.3%. UniFirst traded down 8.1% following the results while MillerKnoll was up 12.2%.
Read our full analysis of UniFirst’s results here and MillerKnoll’s results here.
There has been positive sentiment among investors in the business services & supplies segment, with share prices up 2.5% on average over the last month. Cintas is down 4.5% during the same time and is heading into earnings with an average analyst price target of $215.63 (compared to the current share price of $212.42).
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