Cintas stock rises on beat-and-raise quarter
Shares of Cintas (NASDAQ:CTAS) rose as much as 3% to $457.29 by midday on Wednesday after reporting results beat for the second quarter and raising its full-year forecast.
The company posted Q2 GAAP EPS of $3.12, ahead of consensus by nine cents, and revenue of $2.17 billion topped estimates by $40 million.

For 2023, the company forecasts revenue between $8.67 billion to $8.75 billion (prev. $8.58B - $8.67B) and diluted EPS of $12.50 to $12.80 (prev. $12.30 - $12.65).
The Seeking Alpha Consensus for 2023 revenue is $8.64B and EPS is $12.57.
Other metrics: Q2 gross margin $1,022.4 million vs $885.1 million last year. Gross margin as a % of revenue was 47.0% compared to 46.0%. Operating income was $444.9 million, an increase of 16.7%.
Q2 energy expenses comprised of gasoline, natural gas and electricity were 10 basis points higher from last year.
CTAS stock +7.9% YTD.