NASDAQ$CTAS
Cintas Corp · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Cintas' Q2 2024 results demonstrated strong revenue growth, high operating margin, and diluted EPS growth.
Cintas Corporation reported a strong second quarter for fiscal year 2024, with revenue increasing by 9.3% to $2.38 billion and diluted earnings per share rising by 15.7% to $3.61. The company's operating margin was a high 21.0%, and net income reached $374.6 million. Cintas is raising its full fiscal year financial guidance.
- Revenue increased by 9.3% compared to the previous year, reaching $2.38 billion.
- Diluted earnings per share (EPS) grew by 15.7% to $3.61.
- Operating income increased by 12.3% to $499.7 million, representing 21.0% of revenue.
- Cintas is raising its annual revenue and diluted EPS expectations for fiscal year 2024.
Headline financials
Revenue & EPS history
Cintas · Revenue · Quarterly
$2.38B
Revenue by segment
Cintas · $2.38B total across 3 segments · Q2 2024
- Uniform Rental$1.85B+8.2%77.8%
- First Aid & Safety$266M+12.9%11.2%
- All Other$260M+13.7%10.9%
Forward guidance
Cintas is increasing its full fiscal year financial guidance. The company is raising its annual revenue expectations from a range of $9.40 billion to $9.52 billion to a range of $9.48 billion to $9.56 billion and its diluted EPS from a range of $14.00 to $14.45 to a range of $14.35 to $14.65.
Tailwinds
- Fiscal year 2024 interest expense is expected to be approximately $100.0 million compared to $109.5 million in fiscal year 2023, predominately as a result of less variable rate debt.
- Guidance includes the impact of having one more workday in fiscal year 2024 compared to fiscal year 2023.
Headwinds
- Fiscal year 2024 effective tax rate is expected to be 21.3% compared to a rate of 20.4% in fiscal year 2023.
- The higher effective tax rate negatively impacts fiscal 2024 diluted EPS guidance by approximately $0.16 and diluted EPS growth by approximately 120 basis points.
- Our diluted EPS guidance includes no future share buybacks.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
+0.8%
Avg return
Earnings day
+1.8%
Avg return
5 days after
+3.6%
Avg return
30 days after
54%
37 / 68 earnings
Positive
+9.8%
Q4 2017
Best reaction
-8.5%
Q2 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -0.5% | +1.2% | — | |
| Q2 2026 | +0.7% | +1.8% | +4.3% | |
| Q1 2026 | -0.3% | +1.7% | -4.9% | |
| Q4 2025 | -1.7% | +2.3% | +2.1% | |
| Q3 2025 | +5.8% | +6.2% | +7.7% | |
| Q2 2025 | -8.5% | -7.8% | -3.0% | |
| Q1 2025 | +1.1% | +0.5% | +1.2% | |
| Q4 2024 | +5.4% | +5.0% | +6.3% | |
| Q3 2024 | +8.5% | +7.4% | +5.2% | |
| Q2 2024 | +7.5% | +8.8% | +8.2% | |
| Q1 2024 | -4.8% | -4.8% | -1.4% | |
| Q4 2023 | +0.7% | +2.2% | -0.6% | |
| Q3 2023 | +5.4% | +3.9% | +2.7% | |
| Q2 2023 | +1.9% | +3.0% | -1.7% | |
| Q1 2023 | +1.6% | +4.5% | +11.5% | |
| Q4 2022 | +2.8% | +2.4% | +15.0% | |
| Q3 2022 | +4.4% | +7.7% | +3.8% | |
| Q2 2022 | -0.4% | +1.2% | -13.1% | |
| Q1 2022 | -1.4% | +0.0% | +12.2% | |
| Q4 2021 | +1.9% | +2.7% | +2.8% | |
| Q3 2021 | -3.1% | -3.3% | +0.7% | |
| Q2 2021 | -1.9% | -2.2% | -4.2% | |
| Q1 2021 | -1.7% | +3.7% | +4.3% | |
| Q4 2020 | +4.6% | +1.5% | +10.7% | |
| Q3 2020 | -1.6% | -2.3% | +14.7% | |
| Q2 2020 | +2.0% | +4.1% | +9.9% | |
| Q1 2020 | +4.7% | +4.5% | +6.9% | |
| Q4 2019 | +7.0% | +6.0% | +6.9% | |
| Q3 2019 | -5.2% | -2.8% | +4.1% | |
| Q2 2019 | -3.1% | -5.5% | +12.0% | |
| Q1 2019 | -4.7% | -6.3% | -17.7% | |
| Q4 2018 | +5.7% | +7.5% | +10.5% | |
| Q3 2018 | -3.1% | -2.1% | -0.1% | |
| Q2 2018 | -1.4% | -2.2% | +3.1% | |
| Q1 2018 | +5.2% | +5.4% | +10.7% | |
| Q4 2017 | +9.8% | +8.9% | +5.2% | |
| Q3 2017 | +1.7% | +1.1% | -0.5% | |
| Q2 2017 | -2.6% | -2.5% | -4.7% | |
| Q1 2017 | +2.6% | -0.5% | -6.6% | |
| Q4 2016 | +9.4% | +10.5% | +16.6% | |
| Q3 2016 | -4.3% | — | — | |
| Q2 2016 | +2.9% | — | — | |
| Q1 2016 | +2.1% | — | — | |
| Q4 2015 | -0.6% | — | — | |
| Q3 2015 | -1.5% | — | — | |
| Q2 2015 | +8.8% | — | — | |
| Q1 2015 | +6.5% | — | — | |
| Q4 2014 | +2.0% | — | — | |
| Q3 2014 | +0.6% | — | — | |
| Q2 2014 | +5.4% | — | — | |
| Q1 2014 | -0.1% | — | — | |
| Q4 2013 | -1.9% | — | — | |
| Q3 2013 | -3.5% | — | — | |
| Q2 2013 | -1.9% | — | — | |
| Q1 2013 | -1.5% | — | — | |
| Q4 2012 | -4.7% | — | — | |
| Q3 2012 | -3.1% | — | — | |
| Q2 2012 | +1.9% | — | — | |
| Q1 2012 | +1.5% | — | — | |
| Q4 2009 | -1.7% | — | — | |
| Q4 2011 | -1.7% | — | — | |
| Q3 2011 | -2.1% | — | — | |
| Q3 2010 | -2.1% | — | — | |
| Q2 2011 | +0.3% | — | — | |
| Q2 2010 | +0.3% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q4 2010 | +0.6% | — | — | |
| Q1 2010 | +0.6% | — | — |
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