Cintas Corp. (CTAS): F4Q First Take: Revenue and margins ahead of consensus with the F2027 guide in-line to above expectations

研报英文原文证据摘录

Cintas Corp. (CTAS): F4Q First Take: Revenue and margins ahead of consensus with the F2027 guide in-line to above expectations

Equity Research

15 July 2026 | 6:14AM PDT

Cintas Corp. (CTAS): F4Q First Take: Revenue and margins ahead of

consensus with the F2027 guide in-line to above expectations

We expect investors to have a positive reaction to Cintas’ F4Q 2026 earnings release, George K. Tong, CFA

+1(415)249-7421 |

with revenue and EPS outperforming consensus, and newly introduced F2027 george.tong@gs.com

Goldman Sachs & Co. LLC

guidance ahead of the Street on revenue and in-line on EPS. Organic revenue growth

Anna Wu

for F4Q was 8.4% y/y, ahead of our 6.9% forecast and accelerating from 8.2% growth +1(415)249-7235 | anna.wu@gs.com

in the prior quarter. Gross margins expanded 130 bps y/y to 51.0%, equal to the Goldman Sachs & Co. LLC

Sami Nasir, CFAall-time high, while operating margins expanded 80 bps to 23.2% inclusive of $14mn +1(415)834-7967 | sami.nasir@gs.com

of expenses related to the pending UniFirst acquisition. CTAS guided to F2027 Goldman Sachs & Co. LLC

Lakritzrevenue growth of 8.1% and EPS of $5.43 at the midpoint. On the earnings call, we Alex +1(415)249-7072 | alex.lakritz@gs.com

expect investors to be focused on updates to the pending UNF acquisition, the Goldman Sachs & Co. LLC

impact of the evolving macro environment on customer spending patterns, new

business growth attributable to the no-programmer market for uniform rentals, the

extent of cross-selling between uniform rentals and first aid/fire safety, and cost

efficiencies contributing to operating margin expansion.

Exhibit 1: F4Q Actuals vs GS and FactSet Estimates

$ in millions, except per share data

F4Q Actuals GS Estimates FactSet Consensus

Revenue $2,905.2 $2,869.8 $2,872.6