Cintas Corp Files 10-Q for Nov 30, 2024
Ticker: CTAS · Form: 10-Q · Filed: Jan 8, 2025 · CIK: 723254
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Cintas 10-Q filed. Q2 results in, check financials.
AI Summary
Cintas Corporation filed its 10-Q for the period ending November 30, 2024. The company reported financial results for its second quarter and the first half of its fiscal year. Key financial data and segment performance, including Uniform Rental and Facility Services, were detailed in the filing.
Why It Matters
This filing provides investors with an update on Cintas Corporation's financial performance and operational status, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information.
Key Numbers
- 2024-11-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which results are reported.)
- 2025-01-08 — Filing Date (Shows when the report was officially submitted to the SEC.)
- 0531 — Fiscal Year End (Specifies the end date of Cintas's annual fiscal year.)
Key Players & Entities
- CINTAS CORP (company) — Filer
- 20241130 (date) — Period of Report
- 20250108 (date) — Filed as of Date
- CINCINNATI (location) — City
- Uniform Rental and Facility Services (business_segment) — Segment Name
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is November 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed as of January 8, 2025.
What is Cintas Corporation's fiscal year end?
Cintas Corporation's fiscal year ends on May 31.
Which business segments are specifically mentioned in the filing data?
The filing data mentions the 'Uniform Rental and Facility Services' segment and 'Other Products and Services'.
What is the company's primary SIC code?
The company's primary SIC code is 2320 for Men's & Boys' Furnishings, Work Clothing, and Allied Garments.
Filing Stats: 4,696 words · 19 min read · ~16 pages · Grade level 15.4 · Accepted 2025-01-08 15:06:53
Filing Documents
- ctas-20241130.htm (10-Q) — 1327KB
- ctas-ex311x2024x11x30x10q.htm (EX-31.1) — 13KB
- ctas-ex312x2024x11x30x10q.htm (EX-31.2) — 12KB
- ctas-ex321x2024x11x30x10q.htm (EX-32.1) — 6KB
- ctas-ex322x2024x11x30x10q.htm (EX-32.2) — 6KB
- ctas-20241130_g1.jpg (GRAPHIC) — 1466KB
- 0000723254-25-000003.txt ( ) — 10589KB
- ctas-20241130.xsd (EX-101.SCH) — 43KB
- ctas-20241130_cal.xml (EX-101.CAL) — 82KB
- ctas-20241130_def.xml (EX-101.DEF) — 189KB
- ctas-20241130_lab.xml (EX-101.LAB) — 557KB
- ctas-20241130_pre.xml (EX-101.PRE) — 394KB
- ctas-20241130_htm.xml (XML) — 1312KB
Financial Information
Part I. Financial Information Item 1.
Financial Statements
Financial Statements Consolidated Condensed Statements of Income – Three and Six Months Ended November 3 0 , 2024 and 2023 3 Consolidated Condensed Statements of Comprehensive Income – Three and Six Months Ended November 3 0 , 2024 and 2023 4 Consolidated Condensed Balance Sheets – November 30, 2024 and May 31, 2024 5 Consolidated Condensed Statements of Shareholders' Equity - Three and Six Months Ended November 30 , 2024 and 2023 6 Consolidated Condensed Statements of Cash Flows – S ix Months Ended November 3 0 , 2024 and 2023 8 Notes to Consolidated Condensed Financial Statements 9 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 22 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.
Controls and Procedures
Controls and Procedures 32
Other Information
Part II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 33 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 33 Item 5. Other Information 33 Item 6. Exhibits 34
Signatures
Signatures 35 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 Six Months Ended (In thousands except per share data) November 30, 2024 November 30, 2023 November 30, 2024 November 30, 2023 Revenue: Uniform rental and facility services $ 1,990,410 $ 1,850,542 $ 3,924,249 $ 3,677,367 Other 571,373 526,635 1,139,121 1,042,140 Total revenue 2,561,783 2,377,177 5,063,370 4,719,507 Costs and expenses: Cost of uniform rental and facility services 1,014,052 974,231 1,995,215 1,921,814 Cost of other 271,028 261,398 539,321 514,574 Selling and administrative expenses 685,313 641,865 1,376,413 1,282,880 Operating income 591,390 499,683 1,152,421 1,000,239 Interest income ( 962 ) ( 769 ) ( 2,212 ) ( 1,191 ) Interest expense 26,665 26,590 52,284 51,134 Income before income taxes 565,687 473,862 1,102,349 950,296 Income taxes 117,192 99,249 201,821 190,598 Net income $ 448,495 $ 374,613 $ 900,528 $ 759,698 Basic earnings per share $ 1.11 $ 0.92 $ 2.22 $ 1.86 Diluted earnings per share $ 1.09 $ 0.90 $ 2.19 $ 1.83 Dividends declared per share $ 0.39 $ 0.3375 $ 0.78 $ 0.675 See accompanying notes. 3 Table of Contents CINTAS CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three Months Ended Six Months Ended (In thousands) November 30, 2024 November 30, 2023 November 30, 2024 November 30, 2023 Net income $ 448,495 $ 374,613 $ 900,528 $ 759,698 Other comprehensive (loss) income, net of tax: Foreign currency translation adjustments ( 18,491 ) ( 1,813 ) ( 14,835 ) 821 Change in fair value of interest rate lock agreements, net of tax expense (benefit) of $ 1,766 , $ 3,115 , $( 1,642 ) and $ 5,921 , respectively 5,161 9,099 ( 4,795 ) 17,298 Amortization of interest rate lock agreements, net of tax benefit of $( 513 ), $( 503 ), $( 1,026 ) and $( 990 ), respectively ( 1,523 ) ( 1,495 ) ( 3,046 ) ( 2,937 ) Other, net of tax expense of $ 0 , $ 130