Cintas Shares Hit a Record High Thursday—Here's Why

Shares of Cintas (CTAS) traded astatine an all-time precocious Thursday, extending a beardown year, aft nan business supplies institution reported better-than-expected results and gave an upbeat outlook.

The supplier of workplace uniforms posted fiscal 2024 fourth-quarter adjusted net per stock (EPS) of $3.99, pinch gross expanding 8.2% to a grounds $2.47 billion. Both were supra forecasts.

CFO Mike Hansen said Cintas benefited from some caller customers and spot pinch existing ones, arsenic good arsenic proviso concatenation improvements. The institution made “focused efforts to extract inefficiencies from nan business," Hansen said.

In a convention call, CEO Todd Schneider discussed customer retention he called "strong."

"When you person arsenic wide of a customer guidelines arsenic we do, location are surely immoderate aspects that are thriving and immoderate that are struggling," he said successful a transcript provided by AlphaSense. "It varies based upon industry. It varies based upon geography. But erstwhile you speak arsenic a whole, I would opportunity ... we haven't seen overmuch alteration successful it truthful far.

Cintas anticipates fiscal 2025 adjusted EPS of $16.25 to $16.75, and income of $10.16 cardinal to $10.31 billion. Schneider said nan guidance “reflects our continued assurance successful our strategy.”

Cintas shares, which roseate much than 5% today, are up astir 30% this year.