5 Stocks Garnering Attention After Releasing Their Earnings Reports

3. Cintas Corporation (NASDAQ:CTAS)

Number of Hedge Fund Holders: 42

Shares of Cintas Corporation (NASDAQ:CTAS) slightly moved up in the pre-market trading session on Wednesday, March 23, 2022, after beating profit and sales expectations for its fiscal third quarter.

Cintas Corporation (NASDAQ:CTAS) reported adjusted earnings of $2.69 per share, up from $2.37 in the same period last year. Revenue for the quarter rose 10.3 percent on a year-over-year basis to $1.96 billion. The results exceeded the consensus of $2.43 per share for earnings and $1.91 billion for revenue.

The Ohio-based corporate identity uniforms provider also issued the financial outlook for the current quarter. Cintas Corporation (NASDAQ:CTAS) guided for earnings in the range of $2.54 – $2.74 per share and revenue between $1.96 – $2.02 billion for its fiscal fourth quarter.

Speaking on the results, CEO Todd Schneider said:

“We are pleased with our third quarter financial results, led by a revenue increase of 10.3%. Excluding the gain previously mentioned, operating income and diluted EPS increased significantly despite inflation. Our financial results are indicative of our strong value proposition.”