Cintas Corp Files Q1 FY25 10-Q
Ticker: CTAS · Form: 10-Q · Filed: Oct 4, 2024 · CIK: 723254
Sentiment: neutral
Topics: 10-Q, earnings, financials
TL;DR
Cintas Q1 FY25 10-Q filed. Revenue and profit details inside.
AI Summary
Cintas Corporation filed its 10-Q for the period ending August 31, 2024. The company reported financial results for its first quarter of fiscal year 2025. Specific financial figures and segment performance details are included in the filing.
Why It Matters
This filing provides investors with the latest financial performance data for Cintas, a major provider of corporate identity uniforms and related services, impacting its stock valuation and future outlook.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.
Key Numbers
- 2024-08-31 — Reporting Period End (Fiscal Q1 2025)
- 2024-06-01 — Reporting Period Start (Fiscal Q1 2025)
- 2023-08-31 — Prior Year Period End (Fiscal Q1 2024)
Key Players & Entities
- CINTAS CORP (company) — Filer
- 20240831 (date) — Reporting Period End Date
- 20241004 (date) — Filing Date
- 311188630 (dollar_amount) — IRS Number
- 0531 (date) — Fiscal Year End
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is August 31, 2024.
What is Cintas Corporation's fiscal year end?
Cintas Corporation's fiscal year ends on May 31.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 4, 2024.
What segments are mentioned in the filing?
The filing mentions the 'UniformRentalAndFacilityServicesSegment' and 'OtherProductsAndServicesSegment'.
What is the company's IRS number?
The company's IRS number is 311188630.
Filing Stats: 4,646 words · 19 min read · ~15 pages · Grade level 15.3 · Accepted 2024-10-04 14:51:19
Filing Documents
- ctas-20240831.htm (10-Q) — 1032KB
- exhibit31-cintascorparticl.htm (EX-3.1) — 109KB
- ctas-ex311x2024x8x31x10q.htm (EX-31.1) — 13KB
- ctas-ex312x2024x8x31x10q.htm (EX-31.2) — 12KB
- ctas-ex321x2024x8x31x10q.htm (EX-32.1) — 6KB
- ctas-ex322x2024x8x31x10q.htm (EX-32.2) — 6KB
- ctas-20240831_g1.jpg (GRAPHIC) — 1466KB
- 0000723254-24-000053.txt ( ) — 9607KB
- ctas-20240831.xsd (EX-101.SCH) — 39KB
- ctas-20240831_cal.xml (EX-101.CAL) — 72KB
- ctas-20240831_def.xml (EX-101.DEF) — 177KB
- ctas-20240831_lab.xml (EX-101.LAB) — 525KB
- ctas-20240831_pre.xml (EX-101.PRE) — 371KB
- ctas-20240831_htm.xml (XML) — 988KB
Financial Information
Part I. Financial Information Item 1.
Financial Statements
Financial Statements Consolidated Condensed Statements of Income – Three Months Ended August 31, 202 4 and 2023 3 Consolidated Condensed Statements of Comprehensive Income – Three Months Ended August 31, 2024 and 2023 4 Consolidated Condensed Balance Sheets – August 31, 2024 and May 31, 2024 5 Consolidated Condensed Statements of Shareholders' Equity - Three Months Ended August 31 , 2024 and 2023 6 Consolidated Condensed Statements of Cash Flows – T hree Months Ended August 31, 2024 and 2023 7 Notes to Consolidated Condensed Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.
Controls and Procedures
Controls and Procedures 26
Other Information
Part II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 27 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 27 Item 5. Other Information 27 Item 6. Exhibits 28
Signatures
Signatures 29 Table of Contents
Financial Information
Part I. Financial Information ITEM 1.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS CINTAS CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) Three Months Ended (In thousands except per share data) August 31, 2024 August 31, 2023 Revenue: Uniform rental and facility services $ 1,933,839 $ 1,826,825 Other 567,748 515,505 Total revenue 2,501,587 2,342,330 Costs and expenses: Cost of uniform rental and facility services 981,163 947,583 Cost of other 268,293 253,176 Selling and administrative expenses 691,100 641,015 Operating income 561,031 500,556 Interest income ( 1,250 ) ( 422 ) Interest expense 25,619 24,544 Income before income taxes 536,662 476,434 Income taxes 84,629 91,349 Net income $ 452,033 $ 385,085 Basic earnings per share $ 1.12 $ 0.94 Diluted earnings per share $ 1.10 $ 0.93 Dividends declared per share $ 0.39 $ 0.3375 See accompanying notes. 3 Table of Contents CINTAS CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three Months Ended (In thousands) August 31, 2024 August 31, 2023 Net income $ 452,033 $ 385,085 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments 3,656 2,634 Change in fair value of interest rate lock agreements, net of tax (benefit) expense of $( 3,408 ) and $ 2,806 , respectively ( 9,956 ) 8,199 Amortization of interest rate lock agreements, net of tax benefit of $( 513 ) and $( 487 ), respectively ( 1,523 ) ( 1,442 ) Other comprehensive (loss) income, net of tax (benefit) expense of $( 3,921 ) and $ 2,319 , respectively ( 7,823 ) 9,391 Comprehensive income $ 444,210 $ 394,476 See accompanying notes. 4 Table of Contents CINTAS CORPORATION CONSOLIDATED CONDENSED BALANCE SHEETS (In thousands) August 31, 2024 May 31, 2024 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 101,373 $ 342,015 Accounts receivable, net 1,293,791 1,244,182 Inventories, net 399,078 410,201 Uniforms and other rental items in service 1,061,065 1,040,