Cintas rises on raising annual profit, revenue forecasts

Cintas

25/09/2024 16:00

** Shares of uniform rental firm Cintas Corp  CTAS  up 1.8%
at $208.49 
    ** Co raises annual profit and revenue forecasts betting on
resilient demand for its products and easing costs
    ** Expects FY25 profit per share between $4.17 and $4.25 vs
$4.06 to $4.19 earlier
    ** CTAS now expects annual revenue between $10.22 billion
and $10.32 billion, compared with previous expectation of $10.16
billion to $10.31 billion
    ** Co also beat Q1 profit estimates and reports in-line
quarterly revenue
    ** Co's Q1 gross margins expanded by 140 basis points to
50.1%, majorly due to lower costs of energy
    ** As of Tuesday's close, stock had risen 35% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com))