Cintas Corporation posts 7.6% revenue growth in Q3 FY20

“We are pleased with our third quarter and fiscal year-to-date performance which includes strong growth in revenue. More importantly, though, our concerns have turned to the Covid-19 coronavirus and its effects on our customers, our employee-partners and our communities. The pandemic has created a very fluid environment in the markets in which we operate, and I can't thank our employee-partners enough for doing our part to keep our customers' places of work clean, safe and Ready for the Workday,” Scott Farmer, Cintas' chairman and chief executive officer, said in a press release.

 

Year-over-Year (YoY) revenue increased 7.2 per cent to $5.4 billion compared to $5.0 billion in same period prior year. YoY net income jumped 11 per cent to $731.4 million.

 

Uniform rental and facility services revenue in Q3 FY20 increased 6.6 per cent to $1.4 billion. Operating income in the quarter grew 13.1 per cent to $314.6 million compared to $278.2 million prior year. Selling and administrative expenses in the quarter increased 7.1 per cent to $509.7 million.

 

“Due to the uncertainty, including the severity and duration of the pandemic, we are not providing guidance for the fourth quarter of fiscal 2020 at this time and withdrawing our full fiscal year guidance,” Farmer said.