hit fiscal first-quarter targets and reaffirmed guidance for fiscal second quarter.
The Cincinnati-based uniform rental giant posted earnings of $84.9 million, or 53 cents a share, for its fiscal first quarter ended Aug. 31. Those numbers compare with net income of $78.2 million, or 46 cents a share, a year ago. Analysts were looking for a profit of 51 cents.
Sales in the fiscal first quarter were $914 million, an 11% increase over the same period last year, but slightly below the $920 million in revenue analysts were looking for.
"On behalf of our Cintas employee partners, I am proud to report our first quarter results. We have again achieved double-digit revenue growth and delivered strong operating margins, despite increases in energy costs," CEO Scott Farmer said in a press release Wednesday.
Looking ahead, the company says it still expects to earn about $2.15 a share on total sales for the fiscal year of about $3.81 billion.
Analysts were looking for an annual profit of $2.17 on $3.78 billion in sales.
Cintas shares fell 28 cents to $39.45 in after-hours trading Wednesday.