The company said total revenue for the 3 months ended November 30, 2023 rose to $2,377.2 million from $2,174.9 million a year earlier, an increase of 9.3%. Organic revenue growth was 9.0%. It said acquisitions contributed 0.4% to growth, while foreign currency exchange rate fluctuations reduced growth by 0.1%.

1. 01

   The company said total revenue for the 3 months ended November 30, 2023 rose to $2,377.2 million from $2,174.9 million a year earlier, an increase of 9.3%. Organic revenue growth was 9.0%. It said acquisitions contributed 0.4% to growth, while foreign currency exchange rate fluctuations reduced growth by 0.1%.

2. 02

   Cintas said operating income for the 3 months was $499.7 million, or 21.0% of revenue, compared with $444.9 million, or 20.5%, a year earlier. It said net income was $374.6 million, an increase of 15.5%, and diluted earnings per share were $3.61.

3. 03

   The company said net cash provided by operating activities for the 6 months ended November 30, 2023 was $729.6 million, compared with $619.1 million a year earlier. It cited higher net income and favorable changes in some working capital items, including accounts receivable and inventories, as the factors.

4. 04

   The company said capital expenditures for the 6 months were $200.5 million, compared with $146.4 million a year earlier, and cash paid for acquisitions of businesses was $74.0 million. It cited increased equipment purchases, primarily trucks, and SAP implementation spending at Fire Protection Services as factors behind the higher capital expenditures.

Key figures

Quarter ended November 30, 2023

Revenue

$2.4B

Operating income

$500M

Net income

$375M

EPS

$3.61

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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