CINCINNATI (AP) _ Cintas Corp. (CTAS) on Tuesday reported fiscal first-quarter net income of $217.2 million.
The Cincinnati-based company said it had profit of $1.96 per share. Earnings, adjusted to account for discontinued operations, came to $1.48 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The uniform rental company posted revenue of $1.61 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $1.57 billion.
Cintas expects full-year earnings in the range of $5.30 to $5.38 per share, with revenue in the range of $6.33 billion to $6.4 billion.
Cintas shares have increased 18 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 12 percent. In the final minutes of trading on Tuesday, shares hit $136.10, an increase of 20 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTAS at https://www.zacks.com/ap/CTAS
Keywords: Cintas, Earnings Report
Automated Insights, source Associated Press News