Cintas Keeps Working Hard
If you're looking for a barometer of how the U.S. economy is doing, Cintas (NASDAQ: CTAS) is a great place to start. The company's emphasis on uniform rentals for workers across the nation gives it a first-hand perspective on the strength of the job market, and for quite a while now, low levels of unemployment and solid growth in jobs have combined to help produce good results for Cintas.
Coming into Tuesday's fiscal first-quarter financial report, Cintas shareholders hoped that they'd keep seeing favorable results from the uniform and business services specialist. Cintas didn't disappoint, and its outlook was encouraging for those hoping that the company's positive momentum will continue well into the future.
Cintas' fiscal first-quarter results continued a long stretch of good numbers from the company. Revenue of $1.81 billion was higher by 6.7% year over year, decelerating slightly from last quarter's growth rate but still exceeding what most investors had expected. Net income from continuing operations climbed 22% to $212.5 million, and the resulting earnings of $2.32 per share easily topped the $2.15-per-share consensus figure among those following the stock.
Source Fool.com
