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Cintas fiscal Q1 profit climbs 15.6% YOY

Cintas Corp. said its normalized net income for the fiscal first quarter ended Aug. 31 came to $1.14 per share, compared with the S&P Capital IQ consensus estimate of $1.09 per share.

EPS climbed 21.1% year over year from 94 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $122.3 million, a gain of 15.6% from $105.8 million in the prior-year period.

The normalized profit margin increased to 9.5% from 8.8% in the year-earlier period.

Total revenue grew 7.9% on an annual basis to $1.29 billion from $1.20 billion, and total operating expenses increased 7.0% from the prior-year period to $1.08 billion from $1.01 billion.

Reported net income grew 29.3% on an annual basis to $135.0 million, or $1.26 per share, from $104.4 million, or 93 cents per share.