Cintas stock trades higher as revenue rises 14% Y/Y, raises FY outlook
Sundry Photography/iStock Editorial via Getty Images

Cintas (NASDAQ:CTAS) stock rose just over +1% on Sept. 28 despite raising its FY22 outlook which is seen above estimates.
The company, which provides workplace uniforms and cleaning products, saw its FQ1 revenue rise +14.2% Y/Y to ~$2.17B, surpassing analysts estimates.
Revene from Uniform rental and facility services grew +12.6% Y/Y to ~$1.70B
Gross margin was 47.5%, compared to 47.6% in FQ1 fiscal 2022.
EPS rose +9% Y/Y to $3.39, beating estimates.
Operating income increased to $440.1M, compared to $394.1M in FQ1 fiscal 2022.
Outlook:
The company raised its fiscal 2023 revenue outlook and expects it to be between $8.58B to $8.67B, from prior forecast range of $8.47B to $8.58B. Consensus Revenue Estimate for full fiscal 2023 is $8.50B.
Cintas also raised EPS guidance and expects it in the range of $12.30 to $12.65, from $11.90 to $12.30. Consensus EPS Estimate is $12.20.
The company expects operating income to be between $1.72B and $1.76B, compared to $1.55B in fiscal year 2022.
Cintas said it expects interest expense to be ~$110M, compared to $88.8M in fiscal 2022, due in part to higher interest rates.