- Cintas (NASDAQ:CTAS +0.5%) produced in-line revenues that grew nearly 5% in fiscal Q3 earnings and eked out a beat on profits.
- Organic revenue growth was 6.5%, and 7.3% in its core uniform/facilities segment. Operating income of $195M was up 0.9%.
- Gross margin was up to 44.2% from the prior year's 43.1% -- the 14th straight quarter of Y/Y gross margin improvement, Cintas says.
- Revenue breakout: Uniform rental and facility services, $993.4M (up 6.1%); Other, $287.7M (up 2.9%).
- The company completed its acquisition of G&K yesterday and expects annual synergies of $130M-$140M in the fourth full year following. It'll take on some nonrecurring costs in the integration process, and so it's pulling guidance for the rest of the fiscal year.
- Press Release