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Cintas fiscal Q2 profit climbs YOY

Cintas Corp. said its normalized net income for the fiscal second quarter ended Nov. 30, 2016, amounted to $1.12 per share, compared with the S&P Capital IQ consensus estimate of $1.15 per share.

EPS increased 7.1% year over year from $1.05.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $120.6 million, a gain from $115.2 million in the prior-year period.

The normalized profit margin declined to 9.3% from 9.4% in the year-earlier period.

Total revenue grew 6.4% on an annual basis to $1.30 billion from $1.22 billion, and total operating expenses grew 7.1% on an annual basis to $1.09 billion from $1.02 billion.

Reported net income increased 7.3% from the prior-year period to $121.6 million, or $1.13 per share, from $113.4 million, or $1.03 per share.