Press release
Cintas Corporation Announces Fiscal 2025 First Quarter Results
CINCINNATI--(BUSINESS WIRE)-- Cintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2025 first quarter ended August 31, 2024. Revenue for
About this update from Cintas Corporation
[{"type":"text","content":" CINCINNATI--(BUSINESS WIRE)--\nCintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2025 first quarter ended August 31, 2024. Revenue for the first quarter of fiscal 2025 was $2.50 billion compared to $2.34 billion in last year’s first quarter. First quarter revenue growth was 6.8%, which was negatively impacted by one less workday in the first quarter of fiscal 2025 compared to the first quarter of fiscal 2024. On a same workday basis, first quarter revenue growth was 8.4%. The organic revenue growth rate for the first quarter of fiscal 2025, which adjusts for the impacts of acquisitions, foreign currency exchange rate fluctuations and differences in the number of workdays, was 8.0%.\n\nGross margin for the first quarter of fiscal 2025 was $1.25 billion compared to $1.14 billion in last year’s first quarter, an increase of 9.7%. Gross margin as a percentage of revenue was 50.1% for the first quarter of fiscal 2025 compared to 48.7% in last year's first quarter, an increase of 140 basis points. Energy expenses comprised of gasoline, natural gas and electricity were 20 basis points lower for the first quarter of fiscal 2025 compared to last year's first quarter.\n\nOperating income for the first quarter of fiscal 2025 increased 12.1% to $561.0 million compared to $500.6 million in last year's first quarter. Operating income as a percentage of revenue was 22.4% in the first quarter of fiscal 2025 compared to 21.4% in last year's first quarter.\n\nNet income was $452.0 million for the first quarter of fiscal 2025 compared to $385.1 million in last year's first quarter, an increase of 17.4%. The first quarter of fiscal 2025 effective tax rate was 15.8% compared to 19.2% in last year's first quarter. The tax rates in both quarters were impacted by certain discrete items, primarily the tax accounting impact for stock-based compensation. First quarter of fiscal 2025 diluted earnings per share (EPS) was $1.10 compared to $0.93 in last year's first quarter, an increase of 18.3%. The diluted EPS in each period is reflective of the impact of the four-for-one split of Cintas' common stock on September 11, 2024.\n\nCash flow from operating activities was $466.7 million for the first quarter of fiscal 2025 compared to $336.9 million in the first quarter of fiscal 2024, an increase of 38.5%. During the first quarter of fisc...