Highlights

  • Total revenue for the quarter ended August 31, 2026 was $3,014.0 million, up 10.9%, with an organic revenue growth rate of 8.9%.
  • Net income was $551.7 million, up 12.3%, and diluted earnings per share were $1.36, up 13.3% from the prior-year quarter.
  • The pending UniFirst acquisition, valued at approximately $5.5 billion, has not closed, and Cintas incurred $15.7 million in transaction expenses.
  • Management said on the call it raised fiscal 2027 revenue guidance to $12.15 billion to $12.27 billion.

Cintas Corporation (NASDAQ: CTAS) shares were trading at USD 213.72 on October 27, 2026, down 5.40%, with a relative volume at time of 6.67. The uniform and facility services provider entered into a merger agreement to acquire UniFirst Corporation on March 10, 2026, and filed its Form 10-Q for the fiscal 2027 first quarter ended August 31, 2026, on October 7, 2026, with management raising fiscal 2027 revenue and adjusted EPS guidance on its September 24, 2026 call.

Cintas is incorporated in Washington and has its principal executive offices in Cincinnati, Ohio. The company provides corporate identity uniforms through rental and sales programs, along with entrance mats, restroom cleaning services and supplies, first aid and safety products and services, and fire protection products and services. It reports two segments, Uniform Rental and Facility Services and First Aid and Safety Services, and places Fire Protection Services and Uniform Direct Sales in All Other. Its fiscal year ends May 31.

First Quarter Results

For the three months ended August 31, 2026, total revenue was $3,014.0 million, compared with $2,718.1 million a year earlier. Revenue growth included 0.4% from acquisitions and 1.7% from one more workday. Uniform Rental and Facility Services revenue was $2,294.7 million, up 9.7%, and First Aid and Safety Services revenue was $388.5 million, up 16.1%.

Operating income was $711.9 million, or 23.6% of revenue, compared with $617.9 million, or 22.7%. Net income was $551.7 million, compared with $491.1 million in the prior-year quarter, and diluted earnings per share were $1.36, compared with $1.20. Selling and administrative expenses increased $78.5 million, or 10.5%, to 27.4% of revenue. The effective tax rate was 20.0%, compared with 17.6%.

UniFirst Transaction

Under the merger agreement, each UniFirst share will convert into the right to receive $155.00 in cash and 0.7720 shares of Cintas common stock, in a transaction valued at approximately $5.5 billion. The transaction had not closed as of the filing date. On June 11, 2026, each company received a Second Request from the U.S. Federal Trade Commission. On October 2, 2026, the companies certified to the FTC their compliance with the Second Request and entered into a timing agreement under which they agreed not to complete the transaction before December 11, 2026 unless the FTC closes its investigation earlier. Cintas expects the transaction to close prior to the end of calendar year 2026, subject to customary closing conditions. In the quarter, transaction expenses were $15.7 million, of which $14.4 million was recorded in operating income and $1.3 million in interest expense.

Cash Flow, Balance Sheet and Capital Returns

Net cash provided by operating activities was $572.3 million, compared with $414.5 million. Cash and cash equivalents were $243,599 thousand at August 31, 2026, compared with $289,018 thousand at May 31, 2026. Debt due within one year was $999,291 thousand, and debt due after one year was $1,429,554 thousand.

Share repurchases under the July 23, 2024 program were 1,180 thousand shares at an average price of $199.93 for $235,900 thousand. From September 1 through October 7, 2026, Cintas purchased 2.5 million shares at an average price of $198.99 for $494.0 million. The quarterly dividend was $0.45 per share for dividends paid in the quarter, and a dividend of $0.52 per share was declared on July 28, 2026.

Fiscal 2027 Outlook

On the September 24, 2026 call, management said it is raising fiscal 2027 revenue guidance from $12.10 billion to $12.25 billion to a range of $12.15 billion to $12.27 billion, and adjusted diluted EPS guidance from $5.36 to $5.50 to $5.45 to $5.54. It expects net interest expense of approximately $103 million and an effective tax rate of 20.4%. Management said the guidance does not assume future acquisitions and assumes constant foreign currency exchange rates.