Uniform and facility services provider Cintas (NASDAQ: CTAS) will be announcing earnings results this Wednesday before the bell. Here’s what to expect.
Cintas beat analysts’ revenue expectations last quarter, reporting revenues of $2.84 billion, up 8.9% year on year. It was a mixed quarter for the company, with full-year revenue guidance meeting analysts’ expectations but full-year EPS guidance in line with analysts’ estimates.
Is Cintas a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Cintas’s revenue to grow 7.7% year on year, in line with the 8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Cintas has a history of exceeding Wall Street’s expectations.
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 3.9%, beating analysts’ expectations by 1%, and MillerKnoll reported revenues up 4.4%, topping estimates by 3.1%.
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 2.1% on average over the last month. Cintas is up 5.3% during the same time and is heading into earnings with an average analyst price target of $208.69 (compared to the current share price of $184.00).
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