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Cintas shares rally on fiscal 2019 outlook boost, quarterly earnings beat

Cintas Corp.'s shares rallied in after-hours trading after the diversified support services company raised its fiscal 2019 outlook and reported second-quarter earnings that beat analysts' estimates.

Chairman and CEO Scott D. Farmer said the company now expects its EPS from continuing operations excluding certain items in the range of $7.30 to $7.38, up from the previous guidance of $7.19 to $7.29.

The company booked net income of $243.0 million, or $2.18 per share, in the quarter that ended Nov. 30, up from $137.1 million, or $1.23 per share, in the same period last year.

EPS excluding certain items stood at $1.76, up from $1.31 in the year-ago period and higher than the S&P Global Market Intelligence estimate of $1.68.

Revenue totaled $1.72 billion during the quarter, up from $1.61 billion, and operating income rose to $275.6 million from $235.2 million in the same prior-year period.

As of 4:39 p.m. ET, Cintas' shares were up 4% after closing 3.65% lower.