$CTAS (Cintas Corporation)

$CTAS {{ '2016-07-19T20:40:20+0000' | timeago}} • Announcement

Uniform rental company $CTAS reported a 24.4% jump in 4Q16 earnings driven by higher operating margins and a rise in growth rates as well as a decline in interest expenses. Net income rose to $130.9MM or $1.20 per share from $105.22MM or $0.90 per share last year. Total revenue grew to $1.27Bil from $1.14Bil. Organic revenue growth was 6.7%.

$CTAS {{ '2017-04-04T14:48:04+0000' | timeago}} • Announcement

$CTAS agreed to buy $GK$CTAS anticipates realizing annual synergies of $130-140MM. Synergies are projected to be realized in their entirety in the fourth full year after closing. Upon completion of the merger, $GK will be a wholly owned subsidiary of $CTAS, and is expected to initially operate under its existing brand name.

$CTAS {{ '2017-04-04T14:46:59+0000' | timeago}} • Announcement

$CTAS agreed to buy $GK for $97.50 per share in cash, for a total enterprise value of about $2.2Bil, including acquired net debt. The BoDs of both companies have approved the transaction,which is expected to close in next 4-6 months.The transaction is expected to be accretive to $CTAS' EPS in its second full year after closing.

$CTAS {{ '2017-03-22T22:03:41+0000' | timeago}} • Webcast

$CTAS said new business, which includes new customers, continues to be the strongest driver of growth. New business also includes the penetration of existing customers and this is continuing at a strong pace. Retention has been strong at about 95% and there has been no significant change or movement in the key components of organic growth drivers.

$CTAS {{ '2017-03-22T21:43:54+0000' | timeago}} • Webcast

$CTAS continues to expect revenue growth in the mid to high single digits going forward. In terms of G&K, the company expects to see normal customer attrition and also some significant pressures on the new business. Moving forward, $CTAS believes it might see pressure that could bring revenue down by 5-10% over the course of 2018.

$CTAS {{ '2017-03-22T21:27:20+0000' | timeago}} • Webcast

In 3Q17, GM for $CTAS’ Uniform Rental and Facility Services segment improved to 45%, an increase of 100BP compared to 3Q16. The First Aid and Safety Services segment GM improved to 44.8%, an increase of 260BP compared to last year. The All Other segment GM was 39.1%.

$CTAS {{ '2017-03-22T21:12:41+0000' | timeago}} • Webcast

During 3Q17, $CTAS’ organic growth rate, which adjusts for the impacts of acquisitions, foreign currency exchange rate fluctuations and differences in the number of workdays, was 6.5%. Organic growth for the Uniform Rental and Facility Services segment accelerated to a rate of 7.3%. GM improved to 44.2% in 3Q17.

$CTAS {{ '2017-03-22T20:47:17+0000' | timeago}} • Announcement

During 3Q17, $CTAS posted revenues of $993MM in its Uniform Rental and Facility Services segment compared to $936MM in 3Q16. In the First Aid and Safety Services segment, revenues were $124MM compared to $119MM last year. Revenues for All Other were $163MM in 3Q17.

$CTAS {{ '2017-03-22T20:41:05+0000' | timeago}} • Announcement

$CTAS acquired G&K Services, Inc. on March 21, 2017. The company expects to realize annual synergies of $130-140MM in the fourth full year following the acquisition. The integration process needed to achieve the annual synergies will result in certain non-recurring costs. As a result, $CTAS is pulling its guidance for FY17.

$CTAS {{ '2017-03-22T20:33:27+0000' | timeago}} • Announcement

$CTAS reported an increase in 3Q17 earnings. Net income was $118MM or $1.07 per share compared to $117MM or $1.05 per share in 3Q16. Revenue was $1.28Bil, an increase of 5.3% over last year.

$CTAS {{ '2017-03-21T20:52:06+0000' | timeago}} • Announcement

$CTAS completes the previously announced acquisition of G&K Services for approx. $2.2Bil, including acquired net debt. On Nov. 15, 2016, G&K Services' shareholders approved the deal. On March 17, 2017, $CTAS got the necessary regulatory approval. $CTAS expects to realize $130-140MM in annual synergies in the 4th full year after the deal closing.

$CTAS {{ '2016-12-22T23:14:09+0000' | timeago}} • Webcast

$CTAS said the ad stops metric was positive in 2Q17. The company gets some benefits from seasonal items like jackets coming into late fall and into early winter. The flame-resistant garments (FRC) was more positive and this helps support the belief that $CTAS has seen the bottom of the weakness in oil, gas and coal. Pricing remains competitive.

$CTAS {{ '2016-12-22T22:50:21+0000' | timeago}} • Webcast

$CTAS said the organic growth rate in the Uniform Rental business accelerated about 60BP in 2Q17 versus 1Q17. About 35BP was due to the lessening oil and gas customer impact. The company has seen steady performance except for this vertical and believes this is sustainable moving forward.

$CTAS {{ '2016-12-22T22:43:47+0000' | timeago}} • Webcast

$CTAS had a cash balance of $143MM as of November 30, 2016. Capex was about $76MM in 2Q17. The company expects FY17 Capex to be $290-310MM. This range includes about $40MM of Capex related to the SAP implementation.

$CTAS {{ '2016-12-22T22:32:42+0000' | timeago}} • Webcast

In 2Q17, in $CTAS’ First Aid and Safety Services segment, revenues were $125MM, about 4% higher than 2Q16. On an organic basis, the growth rate for the segment was 3.3%. The reduction in overall segment organic growth is due to the continued assimilation of the ZEE Medical business.

$CTAS {{ '2016-12-22T22:15:01+0000' | timeago}} • Webcast

During 2Q17, $CTAS’ organic growth rate, which adjusts for the impacts of acquisitions and foreign currency exchange rate fluctuations, was 5.7%. Organic growth for the Uniform Rental and Facility Services segment accelerated to a rate of 6.5%. GM improved to 44.1% from 43.3% last year.

$CTAS {{ '2016-12-22T21:46:23+0000' | timeago}} • Announcement

$CTAS is updating its annual guidance. The company expects FY17 revenue to be $5.180-5.225Bil and EPS from continuing operations to be $4.57-4.65. This guidance does not include any future financial impact from the acquisition of G&K, including transaction expenses. It does include the impact of one less workday in FY17 versus FY16.

$CTAS {{ '2016-12-22T21:44:50+0000' | timeago}} • Infographic

$CTAS Cintas Corporation Earnings AlphaGraph: Q2 2017 Highlights

$CTAS {{ '2016-12-22T21:42:05+0000' | timeago}} • Announcement

During 2Q17, $CTAS’ Uniform Rental and Facility Services segment reported revenues of $1Bil, up 7.2% compared to 2Q16. Revenue from the Other segment was $291.3MM, up 3.5% versus last year.

$CTAS {{ '2016-12-22T21:38:17+0000' | timeago}} • Announcement

Uniform rental services company $CTAS reported a decrease in 2Q17 earnings. Net income was $140.3MM or $1.29 per share compared to $345MM or $3.06 per share in 2Q16. Revenue was $1.30Bil, an increase of 6.4% over 2Q16.

$GK {{ '2016-11-16T19:19:30+0000' | timeago}} • Announcement

$GK reported that its shareholders approved the proposed merger with $CTAS. The company expects to close the merger not later than 2Q of calendar year 2017. Earlier in Aug. 2016, $CTAS agreed to acquire $GK for about $2.2Bil.

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