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Cintas fiscal Q1 profit climbs 19.3% YOY

Cintas Corp. said its normalized net income for the fiscal first quarter ended Aug. 31 came to 78 cents per share, compared with the S&P Capital IQ consensus estimate of 74 cents per share.

EPS increased 24.2% year over year from 63 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $91.8 million, a gain of 19.3% from $77.0 million in the prior-year period.

The normalized profit margin rose to 8.3% from 7.0% in the year-earlier period.

Total revenue totaled $1.10 billion, compared with $1.10 billion in the year-earlier period, and total operating expenses declined from the prior-year period to $938.6 million from $960.6 million.

Reported net income increased 41.8% from the prior-year period to $109.8 million, or 93 cents per share, from $77.4 million, or 63 cents per share.