Press release
Cintas Corporation Announces Fiscal 2024 Fourth Quarter and Full Year Results
CINCINNATI--(BUSINESS WIRE)-- Cintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2024 fourth quarter ended May 31, 2024. Revenue for the
About this update from Cintas Corporation
[{"type":"text","content":" CINCINNATI--(BUSINESS WIRE)--\nCintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2024 fourth quarter ended May 31, 2024. Revenue for the fourth quarter of fiscal 2024 was $2.47 billion compared to $2.28 billion in last year’s fourth quarter, an increase of 8.2%. The organic revenue growth rate for the fourth quarter of fiscal 2024, which adjusts for the impacts of acquisitions, foreign currency exchange rate fluctuations and workday differences, was 7.5%.\n\n\nGross margin for the fourth quarter of fiscal 2024 was $1,215.4 million compared to $1,088.8 million in last year’s fourth quarter, an increase of 11.6%. Gross margin as a percentage of revenue was 49.2% for the fourth quarter of fiscal 2024 compared to 47.7% in last year's fourth quarter, an increase of 150 basis points.\n\n\nOperating income for the fourth quarter of fiscal 2024 was $547.6 million compared to $470.8 million in last year's fourth quarter, an increase of 16.3%. Operating income as a percentage of revenue was 22.2% in the fourth quarter of fiscal 2024 compared to 20.6% in last year's fourth quarter.\n\n\nNet income was $414.3 million for the fourth quarter of fiscal 2024 compared to $346.2 million in last year's fourth quarter. Fourth quarter of fiscal 2024 diluted earnings per share (EPS) was $3.99 compared to $3.33 in last year's fourth quarter, an increase of 19.8%.\n\n\nFor the fiscal year ended May 31, 2024, revenue was $9.60 billion compared to $8.82 billion for fiscal 2023, an increase of 8.9%. Operating income for fiscal 2024 was $2.07 billion compared to $1.80 billion for fiscal 2023, an increase of 14.8%. Operating income as a percent of revenue was 21.6% in fiscal 2024 compared to 20.4% in fiscal 2023. Diluted EPS for fiscal 2024 was $15.15 compared to $12.99 in fiscal 2023, an increase of 16.6%.\n\n\nCash flow from operating activities was $2.08 billion in fiscal 2024 compared to $1.60 billion in fiscal 2023, an increase of 30.2%. Cintas spent $409.5 million on capital expenditures in fiscal 2024, which is 4.3% as a percentage of revenue. Cintas acquired businesses for a total of $186.8 million in fiscal 2024. During fiscal 2024, Cintas paid cash dividends of $530.9 million, an increase of 18.0% over fiscal 2023. During fiscal 2024, and as of July 17, 2024, Cintas purchased 1,623,870 shares of Cintas common stock at an ave...