After the closing bell on Monday, business services company Cintas Corporation (CTAS
) released its fiscal 2015 first quarter results, with revenues coming in basically flat compared to last year’s Q1, while adjusted EPS came in higher.
CTAS’s Earnings in Brief
Cintas reported second quarter revenues of $1.102 billion, up 0.2% over last year’s Q1 revenues of $1.100 billion. Adjusted earnings for the quarter came in at $92.4 million, or 78 cents per share, a significant gain over last year’s Q1 figures of $76.5 million, or 62 cents per share. The company's results met analysts’ revenue expectations of $1.1 billion and EPS beat the 75 cent estimate. Looking ahead, Cintas sees FY2015 earnings in the range of $3.20-$3.29 on revenue in the range of $4.4 billion to $4.75 billion. Analysts are expecting EPS of $3.09 on revenue of $4.50 billion.CEO Commentary
Cintas CEO Scott D. Farmer released the following comments: “Our first quarter results reflect the continued good execution by our employees, who we call partners. We have focused on selling good, profitable business over the past few years, as well as managing our cost structure and continuously improving the efficiency of our processes. This focus has resulted in improved margins and better customer retention."
CTAS’s Dividend
Cintas made no mention of its annual dividend, which was to be expected as the company normally declares a dividend raise in mid-to-late October. CTAS paid its most recent annual dividend of 77 cents on December 11, 2013. We expect the company to announce a higher dividend within the coming weeks.
Stock Performance
CTAS stock was up 55 cents, or 0.83%, in after hours trading. YTD, the stock is up 12.21%.
CTAS Dividend SnapshotAs of Market Close on September 29, 2014
Click here to see the complete history of CTAS dividends.
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