Loading...
•
May 31, 2021
Cintas Q4 2021 Earnings Report
Reported fiscal year 2021 fourth quarter results.
Key Takeaways
Cintas Corporation reported a strong fourth quarter in fiscal year 2021, with revenue reaching $1.84 billion, a 13.3% increase compared to the previous year's fourth quarter. Diluted earnings per share (EPS) increased by 83.0% to $2.47. The company's organic revenue growth rate was 11.5%, driven by a 13.7% increase in the Uniform Rental and Facility Services segment.
Revenue for the fourth quarter of fiscal 2021 was $1.84 billion, up from $1.62 billion in the previous year.
Diluted earnings per share (EPS) increased by 83.0% to $2.47.
The organic revenue growth rate was 11.5%.
Gross margin increased to $859.1 million, representing 46.8% of revenue.
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
For fiscal year 2022, Cintas expects revenue to be in the range of $7.53 billion to $7.63 billion and diluted EPS to be in the range of $10.35 to $10.75.
Positive Outlook
- Revenue to be in the range of $7.53 billion to $7.63 billion.
- Diluted EPS to be in the range of $10.35 to $10.75.
- Value proposition is strong.
- Vast total addressable market.
- Continued investment in technology is a competitive advantage.
Challenges Ahead
- Fiscal 2022 effective tax rate is expected to be in the range of 19.5% to 20.5% compared to a rate of 13.7% for fiscal 2021, negatively impacting fiscal 2022 EPS guidance by about $0.85.
- Guidance does not include any future share buybacks or potential tax reform.
- The company remains in a dynamic environment that can continue to change.
- Guidance contemplates a steadily improving economy absent any economic or pandemic-related setbacks.
- Higher effective tax rate negatively impacts fiscal 2022 EPS guidance by about $0.85 and diluted EPS growth by about 800 basis points
Revenue & Expenses
Visualization of income flow from segment revenue to net income