US uniform supplier Cintas Corp's first quarter net income jumps 10%

30 Sep '21

1 min read

Pic: Cintas Corporation

Cintas Corporation, a US-based uniform supplier company, has reported an 8.6 per cent revenue growth to $1.9 billion in the first quarter (Q1) of FY22 ended on August 31, 2021, compared to the corresponding period of previous fiscal. Net income for the three-month period increased 10.4 per cent to $331.2 million (Q1 FY21: $300.0 million).

“We are pleased with our start to fiscal 2022. I am proud of the execution of our employee-partners. They continue to navigate an unsettled environment by focusing on providing businesses with the products and services needed to help our customers get Ready for the Workday. I look forward to another successful fiscal year,” Todd Schneider, Cintas' president and chief executive officer, said in a press release.

Gross margin for the first quarter of FY22 expanded to $902.8 million ($826.2 million), while operating profit grew 12.7 per cent to $394.1 million ($349.1 million).

“We are increasing our fiscal 2022 financial guidance. We are raising our annual revenue expectations from a range of $7.53 billion to $7.63 billion to a range of $7.58 billion to $7.67 billion and diluted EPS from a range of $10.35 to $10.75 to a range of $10.60 to $10.90,” Schneider concluded.

Fibre2Fashion News Desk (JL)

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