Highlights

  • Fiscal 2027 first quarter revenue rose 10.9% to $3,014.0 million, with organic growth of 8.9%, a non-GAAP measure.
  • GAAP diluted earnings per share increased 13.3% to $1.36, and operating margin widened to 23.6% from 22.7%.
  • Cintas and UniFirst agreed with the FTC not to close their roughly $5.5 billion deal before December 11, 2026.
  • Management raised fiscal 2027 revenue guidance to $12.15 billion to $12.27 billion and adjusted EPS guidance to $5.45 to $5.54.

Cintas Corporation (NASDAQ:CTAS) shares were trading near their 52-week high at USD 219.56 on October 21, 2026, up 1.17%. The uniform and facility services provider reported fiscal 2027 first quarter results on September 23, raised its full-year outlook on the call, and on October 2 agreed a timing arrangement with the Federal Trade Commission on its pending UniFirst acquisition.

Based in Cincinnati, Ohio, Cintas is a Washington corporation that says it helps more than one million businesses, mainly in the United States, Canada and Latin America, with uniforms, mats, restroom supplies, first aid and safety products, and fire protection services. It has two reportable segments: Uniform Rental and Facility Services, and First Aid and Safety Services. Fire Protection Services and Uniform Direct Sales sit in an All Other category. Its fiscal year ends May 31.

Double-Digit Revenue Growth and Wider Margins

Revenue for the quarter ended August 31, 2026 was $3,014.0 million, up from $2,718.1 million a year earlier. Acquisitions added 0.4 points, one extra workday added 1.7 points and currency subtracted 0.1 point. Uniform Rental and Facility Services revenue rose 9.7% to $2,294.7 million, with organic growth of 8.0%. First Aid and Safety Services grew 16.1% to $388.5 million, or 14.2% organically, and the combined other revenue rose 14.7% to $719.2 million.

Operating income increased to $711.9 million, a 23.6% margin, from $617.9 million, or 22.7%. Cost of uniform rental and facility services fell to 49.2% of related revenue from 50.3%, which the company credited to in-service inventory usage, sourcing and fixed-cost leverage. Uniform Rental segment operating margin was 25.1%, and First Aid and Safety was 25.6%. Net income was $551.7 million, up 12.3%, and diluted EPS was $1.36 against $1.20. The effective tax rate rose to 20.0% from 17.6%.

The quarter included $15.7 million of UniFirst transaction expenses, of which $14.4 million sat in operating income. On the call, management put adjusted diluted EPS, a non-GAAP measure that excludes those costs, at $1.39, up 15.8%, and said the extra workday helped first quarter margins.

The UniFirst Transaction and Capital Returns

Under a merger agreement dated March 10, 2026, Cintas will buy UniFirst in a deal valued at about $5.5 billion, paying $155.00 in cash and 0.7720 Cintas shares for each UniFirst share. Both companies received a second information request from the FTC on June 11 and certified substantial compliance on October 2. They agreed not to close before December 11, 2026 unless the FTC closes its review earlier. Cintas expects completion before the end of calendar 2026, subject to closing conditions, including regulatory approvals. The filing lists share dilution and the cost of the transaction among its risks.

Operating cash flow was $572.3 million versus $414.5 million, and capital expenditures were $107.5 million. Cash stood at $243.6 million, with no commercial paper or revolver borrowings against a $2.0 billion facility. Senior notes totaled $2.44 billion, including $1.0 billion of 3.70% notes due in fiscal 2027.

The company repurchased 1.18 million shares for $235.9 million under its 2024 program during the quarter, plus shares withheld for taxes. From August 31 through October 7 it bought 2.5 million more shares for $494.0 million, completing that $1.0 billion program and starting on the $1.0 billion authorization of October 28, 2025. The quarterly dividend paid in June was $0.45 per share, and a $0.52 dividend, 15.6% higher, was accrued for September payment.

Raised Fiscal 2027 Guidance

Management raised fiscal 2027 revenue guidance to $12.15 billion to $12.27 billion, or 7.9% to 8.9% growth, from $12.10 billion to $12.25 billion. Adjusted diluted EPS is now expected at $5.45 to $5.54, up 10.3% to 12.1%, from $5.36 to $5.50. Other assumptions include net interest expense near $103 million, a 20.4% tax rate, incremental margins of 32% to 34%, and no future acquisitions, share repurchases or UniFirst transaction costs. Management said it will report fiscal second quarter results in December. These are company estimates.