NASDAQ$CTAS
Cintas Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Cintas reported a successful Q4 2023 with double-digit growth in revenue, operating income, and diluted EPS.
Cintas Corporation reported a 10.1% increase in revenue for the fourth quarter of fiscal year 2023, reaching $2.28 billion. Diluted earnings per share (EPS) increased by 18.5% to $3.33. The company's full-year revenue reached $8.82 billion, a 12.2% increase, and diluted EPS was $12.99, an 11.5% increase.
- Q4 revenue increased by 10.1% to $2.28 billion compared to the previous year.
- Organic revenue growth rate for Q4 was 10.3%.
- Q4 diluted earnings per share (EPS) increased by 18.5% to $3.33.
- Full-year revenue increased by 12.2% to $8.82 billion, and diluted EPS increased by 11.5% to $12.99.
Headline financials
Revenue & EPS history
Cintas · Revenue · Quarterly
$2.28B
Revenue by segment
Cintas · $2.28B total across 3 segments · Q4 2023
- Uniform Rental$1.77B+8.8%77.6%
- All Other$262M+15.6%11.4%
- First Aid & Safety$250M+14.4%10.9%
Forward guidance
For fiscal year 2024, Cintas expects revenue to be in the range of $9.35 billion to $9.50 billion and diluted EPS to be in the range of $13.85 to $14.35.
Tailwinds
- Fiscal year 2024 revenue is expected to be in the range of $9.35 billion to $9.50 billion.
- Fiscal year 2024 diluted EPS is expected to be in the range of $13.85 to $14.35.
- Fiscal year 2024 interest expense is expected to be approximately $98.0 million compared to $109.5 million in fiscal year 2023.
- Guidance includes the impact of having one more workday in fiscal 2024 compared to fiscal 2023.
- Lower variable rate debt
Headwinds
- Fiscal year 2024 effective tax rate is expected to be 21.3% compared to a rate of 20.4% for fiscal 2023.
- The higher effective tax rate negatively impacts fiscal 2024 diluted EPS guidance by about $0.16 and diluted EPS growth by about 120 basis points.
- Guidance does not include any future share buybacks.
- Guidance does not include significant economic disruptions or downturn.
- Future share buybacks or acquisition activity may change the interest expense.
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 Q4 2023
+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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