Cintas 8-K
PositiveEarningsGuidance raised
Raised revenue and adjusted EPS outlook follows organic growth and margin gains; UniFirst deal remains under FTC review.
Filed 2026-09-23 08:31 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Fiscal 2027 Q1 results with raised full-year guidance. Revenue grew 10.9% Y/Y, including 8.9% organic growth, while operating income rose 15.2%. Cintas raised its FY2027 revenue and adjusted diluted EPS ranges; the EPS outlook excludes non-recurring UniFirst acquisition expenses. The UniFirst deal remains under FTC review, and Cintas expects it to close before the end of calendar 2026.
Key Figures
| Metric | Q1 FY2027 | Q1 FY2026 | Y/Y |
|---|---|---|---|
| Revenue | $3.01B | $2.72B | 10.9% |
| Operating income | $712M | $618M | 15.2% |
| Net income | $552M | $491M | 12.3% |
| Diluted EPS | $1.36 | $1.20 | 13.3% |
| Adjusted diluted EPS, non-GAAP | $1.39 | — | 15.8% |
| Operating cash flow | $572M | $414M | 38.1% |
| Free cash flow, non-GAAP | $465M | $313M | 48.7% |
| Organic revenue growth, non-GAAP | 8.9% | — | — |
- Gross margin was 51.5%, up 120 bp Y/Y. Revenue growth reflected 8.9% organic growth; Cintas cited ongoing investments in technology, capacity and talent.
- Operating income included $14.4M of UniFirst transaction expenses, a $0.03 diluted EPS impact. The effective tax rate was 20.0%, vs 17.6% a year earlier.
- Cintas paid a $208.8M quarterly dividend and reported $544.7M of share purchases through 9/22/2026. Shares outstanding were 399.517M at 8/31/2026, down 630,000 from 5/31/2026. Cash was $244M, vs $289M at 5/31/2026; total debt carrying value was $2.43B.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Total revenue | FY2027 | $12.15B-$12.27B; 7.9%-8.9% Y/Y | $12.1B-$12.25B; 7.4%-8.7% Y/Y | Raised |
| Workday-adjusted revenue | FY2027 | $12.1034B-$12.223B; 7.4%-8.5% Y/Y | $12.0536B-$12.2031B; 7.0%-8.3% Y/Y | Raised |
| Adjusted diluted EPS, non-GAAP | FY2027 | $5.45-$5.54; 10.3%-12.1% Y/Y | $5.36-$5.5; 8.5%-11.3% Y/Y | Raised |
| Interest, net | FY2027 | ≈$103M (vs $101.2M in FY2026) | — | — |
| Effective tax rate | FY2027 | 20.4% (vs 20.2% in FY2026) | — | — |
Revenue guidance assumes 261 workdays, constant foreign exchange rates, and no future acquisitions; it excludes expected UniFirst acquisition impacts. Adjusted diluted EPS guidance excludes future share buybacks and non-recurring UniFirst transaction costs.
Investor Takeaways
- Watch the FTC review and whether the UniFirst transaction closes before calendar year-end 2026.
- Track FY2027 results against the raised revenue and adjusted diluted EPS ranges.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3