Press release
Cintas Corporation Announces Fiscal 2023 Fourth Quarter and Full Year Results
Full year reported revenues were $8.82 billion, an increase of 12.2% Full year reported operating margin increased 13.6% Full year reported diluted EPS was
About this update from Cintas Corporation
[{"type":"text","content":"\n\nFull year reported revenues were $8.82 billion, an increase of 12.2%\n\n\n\nFull year reported operating margin increased 13.6%\n\n\n\nFull year reported diluted EPS was $12.99, an increase of 11.5%\n\n\n\n CINCINNATI--(BUSINESS WIRE)--\nCintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2023 fourth quarter ended May 31, 2023. Revenue for the fourth quarter of fiscal 2023 was $2.28 billion compared to $2.07 billion in last year’s fourth quarter, an increase of 10.1%. The organic revenue growth rate for the fourth quarter of fiscal 2023, which adjusts for the impacts of acquisitions and foreign currency exchange rate fluctuations, was 10.3%.\n\n\nGross margin for the fourth quarter of fiscal 2023 was $1,088.8 million compared to $946.2 million in last year’s fourth quarter, an increase of 15.1%. Gross margin as a percentage of revenue was 47.7% for the fourth quarter of fiscal 2023 compared to 45.6% in last year's fourth quarter, an increase of 210 basis points. Energy expenses comprised of gasoline, natural gas and electricity were 65 basis points lower for the fourth quarter of fiscal 2023 compared to last year's fourth quarter.\n\n\nOperating income for the fourth quarter of fiscal 2023 was $470.8 million compared to $404.4 million in last year's fourth quarter, an increase of 16.4%. Operating income as a percentage of revenue was 20.6% in the fourth quarter of fiscal 2023 compared to 19.5% in last year's fourth quarter.\n\n\nNet income was $346.2 million for the fourth quarter of fiscal 2023 compared to $294.5 million in last year's fourth quarter. Fourth quarter of fiscal 2023 diluted earnings per share (EPS) was $3.33 compared to $2.81 in last year's fourth quarter, an increase of 18.5%.\n\n\nOn June 15, 2023, Cintas paid an aggregate quarterly cash dividend of $117.6 million to shareholders, an increase of 20.6% from the amount paid last June.\n\n\nFor the fiscal year ended May 31, 2023, revenue was $8.82 billion compared to $7.85 billion for fiscal 2022, an increase of 12.2%. Operating income for fiscal 2023 was $1.80 billion compared to $1.59 billion for fiscal 2022, an increase of 13.6%. Operating income as a percent of revenue was 20.4% in fiscal 2023 compared to 20.2% in fiscal 2022. Diluted EPS for fiscal 2023 was $12.99 compared to $11.65 in fiscal 2022, an increase of 11.5%. Fiscal year 202...