US uniform supplier Cintas Corp's Q4 FY21 revenue grows 13% to $1.8 bn

16 Jul '21
2 min read
Pic: Cintas Corporation
Pic: Cintas Corporation

Cintas Corporation, a US-based uniform supplier company, has reported 13.3 per cent revenue growth to $1.8 billion in its fourth quarter (Q4) of FY21 ended on May 31, 2021, compared to the revenues of $1.6 billion in the corresponding period of previous fiscal. Net income for Q4 rose 85.2 per cent to $267.7 million (Q4 FY20: $144.6 million).
“We are pleased with our fourth quarter financial results. They conclude a fiscal year of significant accomplishments. These include procuring hard-to-find and potentially lifesaving items such as facemasks and gloves, providing hygienically cleaned healthcare scrubs and isolation gowns, and developing services including hand sanitiser dispensing and sanitising spray services,” Todd M Schneider, Cintas' president and chief executive officer, said in a press release.
The company gross margin rose to $859.0 million ($707.8 million), while operating income for Q4 FY21 increased 71.8 per cent to $356.4 million ($207.4 million).
Revenue from uniform rental and facility services grew 15.4 per cent to $1.4 billion ($1.3 billion), while other segment's revenue increased 5.8 per cent to $368.8 million ($348.6 million).
“Our prospects for continued growth are great. Our value proposition is strong, and we have a vast total addressable market. Also, our continued investment in technology is a competitive advantage,” Schneider added. “For our fiscal 2022, we expect revenue to be in the range of $7.53 billion to $7.63 billion.”

Fibre2Fashion News Desk (JL)

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