Financial Data and Key Metrics - Q1 2024 total revenue grew 8.1% to $2.34 billion, driven by strong volume growth [27] - Operating income margin increased 110 basis points to a record high of 21.4% [27] - Diluted EPS grew 9.1% to $3.70 compared to $3.39 last year [21] - Gross margin for Q1 2024 was $1.14 billion, up 11% YoY, with gross margin percentage reaching an all-time high of 48.7% [30][61] - Net income for Q1 2024 was $385.1 million, up from $351.7 million last year [21] - Cash flow from operating activities grew 13% YoY, with $138.3 million paid in quarterly dividends, a 17.8% increase [43] Business Line Performance - **Uniform Rental and Facility Services**: Revenue grew 7.6% YoY to $1.83 billion, with gross margin at 48.1% [58][20] - **First Aid and Safety Services**: Revenue grew 11% YoY to $260.7 million, with gross margin at 55.9% [59][20] - **Fire Protection Services**: Revenue grew 14.2% YoY to $174.3 million, with gross margin at 49% [60][20] - **Uniform Direct Sale**: Revenue declined 2.7% YoY to $80.5 million, with gross margin at 38.7% [60][20] Market Performance - The company has a broad-based customer base with no single customer accounting for more than 1% of revenue and no sector exceeding 10% [54] - Strong demand from healthcare, education, and government verticals continues to drive growth in Uniform Rental [93] - The labor market remains tight, with 9.5 million job openings, impacting customer retention and hiring efforts [66][140] Strategic Direction and Industry Competition - The company is focused on expanding its no-program market, which is highly attractive and offers significant growth potential [1][124] - Investments in technology, including SAP implementation and SmartTruck initiatives, are driving operational efficiencies and margin expansion [117][145] - The company is leveraging its strong balance sheet for M&A opportunities, particularly in route-based operating segments [77] - Pricing strategy is returning to historical levels, with a focus on operating margin improvement through multiple levers, not just pricing [18][45] Management Commentary on Operating Environment and Future Outlook - Management remains bullish on the business, citing strong new business pipelines, high customer retention, and effective cross-selling [34][127] - The macro environment remains stable, with no significant changes in customer behavior since the last report [31] - The company is well-positioned for future economic challenges, with a pristine balance sheet and a focus on customer and employee care [12][146] Other Important Information - The company raised its annual revenue guidance to $9.4 billion - $9.52 billion, representing 6.6% - 8% growth, and diluted EPS guidance to $14 - $14.45, representing 7.8% - 11.2% growth [30] - Energy costs were a tailwind in Q1, contributing to margin expansion, but this benefit is expected to be muted for the rest of the fiscal year [50][61] - The company is investing in automation and technology to improve efficiency and customer satisfaction, with CapEx expected to be around 4% of revenue for the year [52][110] Q&A Session Summary Question: New business environment and macro changes [23] - **Answer**: The new business pipeline is strong, with no significant changes in customer behavior. The labor market remains tight, but the company is well-positioned to navigate the environment [31][54] Question: Pricing strategy and volume growth [63] - **Answer**: Pricing is returning to historical levels, with growth driven by new business, cross-selling, and customer retention. The company is focused on making it easier to do business through technology [63][64] Question: Margin expansion and energy costs [36] - **Answer**: Gross margins expanded due to lower energy costs and operational efficiencies. The company expects further margin expansion through revenue growth and cost management [36][61] Question: First Aid and Safety margins [68] - **Answer**: First Aid margins have improved due to strong revenue growth and operational efficiencies. The business is now comparable to Uniform Rental in terms of margins [68][131] Question: CapEx expectations and projects [51] - **Answer**: CapEx is expected to be around 4% of revenue, driven by SAP implementation and SmartTruck initiatives. The company is focused on long-term efficiency gains [52][110] Question: Competitive landscape in Uniform Rental [108] - **Answer**: The Uniform Rental market remains highly competitive, but the company is focused on expanding its share in the no-program market through strong value propositions [124][108] Question: Labor environment and sourcing [140] - **Answer**: The labor market is slightly easier than last year but remains challenging. The company is focused on attracting and retaining top talent through a strong employee value proposition [140][103] Question: Lessons from past recessions [141] - **Answer**: The company performed well during the 2008-2009 recession, selling new business at attractive rates. The current diversified customer base and strong value proposition position the company well for future challenges [141][146] Question: Technology investments and M&A [128] - **Answer**: The company is continuously investing in technology to improve customer experience and operational efficiency. M&A is also a key part of the strategy to enhance capabilities [128][129] Question: Recurring revenue in First Aid and Safety [147] - **Answer**: The First Aid and Safety business has returned to historical levels of recurring revenue, driven by strong demand for health and safety products [147]

| --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------|-------|-------------------------------------------------------------------------------|-------|-------|--------------------------------------------------------| | Details about Accumulated Other Comprehensive Income (Loss) Components \n(In thousands) | | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) \n2023 | | 2022 | Affected Line in the Consolidated S ...

Cintas Corporation (NASDAQ:CTAS) Q4 2023 Earnings Conference Call July 13, 2023 10:00 AM ET Company Participants Jared Mattingley - VP, Treasurer and IR Todd Schneider - President and CEO J. Michael Hansen - EVP and CFO Conference Call Participants Andrew Steinerman - JPMorgan Faiza Alwy - Deutsche Bank Ashish Sabadra - RBC Capital Markets Manav Patnaik - Barclays Joshua Chan - UBS Justin Hauk - R.W. Baird George Tong - Goldman Sachs Tim Mulrooney - William Blair Kartik Mehta - Northcoast Research Seth Webe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 6800 Cintas Boulevard P.O. Box 625737 Cincinnati, Ohio 45262-5737 (Address of Principal Executive Offices) (Zip Code) Title of each class Trading symbol(s) Name of each exchange on which registered Common stock, no par value CTASThe NASDAQ Stock Market LLC (NASDAQ Global Select Market) Class Outstanding March 31, 2023 Common Stock, no par value 101,701,804 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCH ...

Cintas Corporation (NASDAQ:CTAS) Q3 2023 Earnings Conference Call March 29, 2023 10:00 AM ET Company Participants Paul F. Adler - VP and Treasurer, IR Todd M. Schneider - President and CEO J. Michael Hansen - EVP and CFO Conference Call Participants Manav Patnaik - Barclays Bank Andrew Steinerman - JPMorgan Faiza Alwy - Deutsche Bank George Tong - Goldman Sachs Hans Hoffman - Jefferies Andrew Wittmann - Robert W. Baird Samuel Kusswurm - William Blair Seth Weber - Wells Fargo Heather Balsky - Bank of America ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-11399 Cintas Corporation (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organizatio ...

Cintas Corporation (NASDAQ:CTAS) Q2 2023 Earnings Conference Call December 21, 2022 10:00 AM ET Company Participants Paul Adler - VP and Treasurer, IR Todd Schneider - President and CEO Mike Hansen - EVP and CFO Conference Call Participants Faiza Alwy - Deutsche Bank Securities John Mazzoni - RBC George Tong - Goldman Sachs Andy Wittmann - R.W. Baird Tim Mulrooney - William Blair Manav Patnaik - Barclays Andrew Steinerman - JPMorgan Securities Heather Balsky - Bank of America Kartik Mehta - Northcoast Resea ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-11399 https://reportify-1252068037.cos.apbeijing.myqcloud.com/media/production/C Cintas Corporation (Exact name of registrant as specified in ...

Cintas Corporation (NASDAQ:CTAS) Q1 2023 Earnings Conference Call September 28, 2022 10:00 AM ET Company Participants Paul Adler - Vice President and Treasurer, IR Todd Schneider - President & CEO Mike Hansen - EVP & CFO Conference Call Participants Ashish Sabadra - RBC George Tong - Goldman Sachs Andy Wittmann - Baird Tim Mulrooney - William Blair Manav Patnaik - Barclays Andrew Steinerman - JPMorgan Faiza Alwy - Deutsche Bank Heather Balsky - Bank of America Seth Weber - Wells Fargo Shlomo Rosenbaum - Sti ...

6800 Cintas Boulevard P.O. Box 625737 Cincinnati, Ohio 45262-5737 (Address of Principal Executive Offices) (Zip Code) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-11399 https://reportify1252068037.cos.apbeijing.myqcloud.com/media/p C ...