CINCINNATI (AP) _ Cintas Corp. (CTAS) on Tuesday reported fiscal first-quarter profit of $209.6 million.
The Cincinnati-based company said it had net income of $1.89 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.93 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.78 per share.
The uniform rental company posted revenue of $1.7 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.69 billion.
Cintas expects full-year earnings in the range of $7.19 to $7.29 per share, with revenue in the range of $6.8 billion to $6.86 billion.
Cintas shares have risen 37 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 9 percent. In the final minutes of trading on Tuesday, shares hit $212.97, a climb of 56 percent in the last 12 months.
