Revenues Climb In Cintas’ Fiscal First Quarter

Cintas Corporation (PPAI 303547, D12) has reported revenue of $1.9 billion for its fiscal first quarter 2022, up 8.6 percent from the $1.75 billion it generated in the previous year’s first quarter. The Cincinnati, Ohio-headquartered distributor’s net income for the quarter was $331.2 million, an increase of 10.4 percent from last year's first quarter net income of $300 million.

"We are pleased with our start to fiscal 2022,” says Todd M. Schneider, Cintas' president and chief executive officer. “I am proud of the execution of our employee-partners. They continue to navigate an unsettled environment by focusing on providing businesses with the products and services needed to help our customers get ready for the workday. I look forward to another successful fiscal year."

The company’s gross margin for the first quarter of fiscal 2022 was $902.8 million compared to $826.2 million during the same quarter last year. Gross margin as a percentage of revenue increased 30 basis points to 47.6 percent for the first quarter of fiscal 2022 compared to 47.3 percent in the first quarter of fiscal 2021. Operating income for first quarter fiscal 2022 was $394.1 million, an increase of 12.7 percent from the previous year’s $349.7 million fiscal first quarter. Operating income as a percentage of revenue increased 80 basis points to 20.8 percent compared to 20 percent in the first quarter of fiscal 2021.

Diluted earnings per share (EPS) were $3.11 in the first quarter of fiscal 2022, an increase of 11.9 percent from last year's first quarter diluted EPS.

filed under October 2021 | Cintas
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