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Cintas fiscal Q3 profit climbs 11.3% YOY

Cintas Corp. said its normalized net income for the fiscal third quarter ended Feb. 28 was 80 cents per share, compared with the S&P Capital IQ consensus estimate of 78 cents per share.

EPS climbed 14.5% year over year from 70 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $94.2 million, an increase of 11.3% from $84.6 million in the year-earlier period.

The normalized profit margin increased to 8.9% from 7.6% in the year-earlier period.

Total revenue came to $1.11 billion, compared with $1.11 billion in the year-earlier period, and total operating expenses fell on an annual basis to $935.2 million from $959.2 million.

Reported net income rose 11.3% from the prior-year period to $93.1 million, or 79 cents per share, from $83.7 million, or 69 cents per share.