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Aug 31, 2020
Cintas Q1 2021 Earnings Report
Cintas reported an increase in EPS and net income despite a decrease in revenue.
Key Takeaways
Cintas Corporation reported a decrease in revenue by 3.6% but an increase in earnings per diluted share (EPS) by 19.8% for the first quarter of fiscal year 2021. The COVID-19 pandemic continues to significantly disrupt the economy and Cintas' business.
Revenue for the first quarter of fiscal 2021 was $1.75 billion, a decrease of 3.6% from last year’s first quarter.
Earnings per diluted share (EPS) were $2.78 in the first quarter of fiscal 2021, an increase of 19.8% from last year's first quarter diluted EPS.
Operating income for the first quarter of fiscal 2021 was $349.7 million, an increase of 14.2% from last year’s first quarter.
Net income was $300.0 million for the first quarter of fiscal 2021, an increase of 19.6% from last year's first quarter.
Cintas
Cintas
Cintas Revenue by Segment
Revenue by Segment
Uniform Rental & Facility Revenue
CapyFin.comFirst Aid & Safety Revenue
CapyFin.comAll Other Revenue
CapyFin.com Forward Guidance
Cintas expects second quarter revenue to be in the range of $1.725 billion to $1.750 billion and diluted EPS to be in the range of $2.00 to $2.20.
Positive Outlook
- Revenue to be in the range of $1.725 billion to $1.750 billion for Q2
- Diluted EPS to be in the range of $2.00 to $2.20 for Q2
- Ability to manage the volatility
- Maintaining focus on long-term objectives
- Value proposition of getting businesses Ready for the Workday® resonates loudly
Challenges Ahead
- Visibility to future financial performance remains impaired
- COVID-19 coronavirus (COVID-19) pandemic remains a significant disruption to the economy
- Significant disruption to our business
- Greater than anticipated operating costs including energy and fuel costs
- Lower sales volumes
Revenue & Expenses
Visualization of income flow from segment revenue to net income