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Cintas Boosts FY23 Outlook - Update
(RTTNews) - While reporting financial results for the third quarter on Thursday, Cintas Corp. (CTAS) raised its earnings and revenue guidance for the full-year 2023.
For fiscal 2023, the company now projects earnings in a range of $12.70 to $12.90 per share on revenues between $8.74 billion and $8.80 billion.
Previously, the company expected earnings in the range of $12.50 to $12.80 per share on revenues between $8.67 billion and $8.75 billion.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $12.73 per share on revenues of $8.73 billion for the year. Analysts' estimates typically exclude special items.
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Cintas Acquires North Carolina-based Rental Uniform Service For Undisclosed Terms
Cintas Corp. (CTAS) announced Thursday it has acquired Rental Uniform Service, a North Carolina-based, family-owned and operated uniform and facility services rental business. The terms of the deal were not disclosed.
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While reporting financial results for the first quarter on Tuesday, Cintas Corp. (CTAS) raised its earnings and revenue guidance for the full-year 2024.
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Business services company Cintas reported on Wednesday that profit for the second quarter grew 10 percent from last year, driven by improved margins and double-digit revenue growth. Both earnings per share and revenues topped analysts' expectations. The company also raised its earnings and revenue outlook for the full-year 2023.
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The Canadian market is up in positive territory a little past noon on Wednesday, thanks to strong gains in consumer staples, materials and technology sectors. Energy and healthcare stocks are weak, while shares from rest of the sectors are turning in a mixed performance.
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U.S. Job Openings Fall To Ten-Month Low In July
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U.S. Factory Orders Slump Roughly In Line With Estimates In July
A report released by the Commerce Department on Wednesday showed an extended slump by new orders for U.S. manufactured goods in the month of July. The Commerce Department said factory orders fell by 1.3 percent in July after plunging by 4.8 percent in June. Economists had expected factory orders to decrease by 1.4 percent.
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Eurozone Private Sector Growth At 1-Year High
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Bay Street Likely To Open On Mixed Note
Canadian shares are likely to open on a somewhat mixed note on Wednesday, tracking commodity prices. With some crucial economic data, including jobs data from Canada and the U.S. due later in the week, the mood is likely to remain cautious.
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