Cintas Corporation Announces Fiscal 2026 Fourth Quarter and Full Year Results (Form 8-K)

Cintas Corporation Announces

Fiscal 2026 Fourth Quarter and Full Year Results

CINCINNATI, July 15, 2026 -- Cintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2026 fourth quarter ended May 31, 2026. Revenue for the fourth quarter of fiscal 2026 was $2.91 billion compared to $2.67 billion in last year's fourth quarter, an increase of 8.9%. The organic revenue growth rate for the fourth quarter of fiscal 2026, which adjusts for the impacts of acquisitions and foreign currency exchange rate fluctuations, was 8.4%.

Gross margin for the fourth quarter of fiscal 2026 was $1.48 billion compared to $1.33 billion in last year's fourth quarter, an increase of 11.6%. Gross margin as a percent of revenue was 51.0% for the fourth quarter of fiscal 2026, equal to the all-time high, compared to 49.7% in last year's fourth quarter, an increase of 130 basis points.

Operating income for the fourth quarter of fiscal 2026 increased 12.7% to $673.0 million compared to $597.5 million in last year's fourth quarter. Operating income as a percent of revenue was 23.2% in the fourth quarter of fiscal 2026 compared to 22.4% in last year's fourth quarter. Operating income in the fourth quarter of fiscal 2026 included $14.0 million of transaction expenses related to the UniFirst acquisition.

Net income increased to $511.0 million for the fourth quarter of fiscal 2026 compared to $448.3 million in last year's fourth quarter, an increase of 14.0%. The fourth quarter of fiscal 2026 effective tax rate was 21.2% compared to 22.1% in last year's fourth quarter. The tax rates in both quarters were impacted by certain discrete items, primarily the tax accounting impact for stock-based compensation. Fourth quarter of fiscal 2026 diluted earnings per share (EPS) was $1.26 compared to $1.09 in last year's fourth quarter, an increase of 15.6%. Excluding the UniFirst transaction expenses, which had a $0.03 impact on diluted EPS, adjusted diluted EPS was $1.29 for the fourth quarter, an increase of 18.3% over the prior year.

For the fiscal year ended May 31, 2026, revenue increased to $11.26 billion compared to $10.34 billion for fiscal 2025, an increase of 8.9%. The organic revenue growth rate for fiscal 2026 was 8.3%. Gross margin as a percent of revenue was 50.7% for fiscal 2026, an all-time high, compared to 50.0% for fiscal 2025. Operating income for fiscal 2026 increased to $2.61 billion compared to $2.36 billion for fiscal 2025, an increase of 10.5%. Operating income as a percent of revenue was 23.1% in fiscal 2026 compared to 22.8% in fiscal 2025. Operating income for the fiscal year ended May 31, 2026 included $15.1 million of transaction expenses related to the UniFirst acquisition. Diluted EPS for fiscal 2026 was $4.91 compared to $4.40 in fiscal 2025, an increase of 11.6%. Excluding the UniFirst transaction expenses, which had a $0.03 impact on diluted EPS, adjusted diluted EPS was $4.94 for the year, an increase of 12.3% over the prior year.

Cash flow from operating activities increased to $2.28 billion in fiscal 2026 compared to $2.17 billion in fiscal 2025. Cintas spent $395.1 million on capital expenditures in fiscal 2026, which is 3.5% of revenue. We acquired businesses for a total of $164.5 million in fiscal 2026. On June 15, 2026, Cintas paid an aggregate quarterly dividend of $180.7 million to shareholders. During fiscal 2026, Cintas returned $1.65 billion in capital to its shareholders in the form of share buybacks and dividends.

Todd M. Schneider, Cintas' President and Chief Executive Officer, stated "These results conclude an outstanding year for Cintas. We delivered record revenues and operating margins. Our 8.3% organic revenue growth demonstrates our ability to deliver strong results in a dynamic macro environment. Our all-time high gross margin reflects the outstanding performance of our employee-partners and the clear impact of our investments in technology, capacity and talent. These results continue to showcase the strength and resilience of Cintas' value proposition."

Mr. Schneider continued, "On June 11, 2026, UniFirst shareholders voted to approve the acquisition, and we and UniFirst each received a request for additional information (the "second request") from the U.S. Federal Trade Commission. Both of these developments were expected. We are excited about the substantial value we expect to create for shareholders and customers through the UniFirst transaction, and we look forward to welcoming UniFirst

Team Partners to Cintas once the transaction is complete. We still expect the acquisition to close in the second half of calendar 2026."

Mr. Schneider concluded, "For fiscal 2027, revenue is expected to be in the range of $12.10 billion to $12.25 billion, and our adjusted diluted EPS is expected to be in the range of $5.36 to $5.50."

Fiscal 2027

Fiscal 2027

(In millions)

Fiscal 2026

Low end of Range

Growth vs. 2026

High end of Range

Growth vs. 2026

A

B

E

H

I

Total Revenue

$

11,264.76

$

12,100.00

7.4%

$

12,250.00

8.7%

E=(B-A)/A

I=(H-A)/A

C

D

D

Workdays in the period

260

261

261

A

F

G

J

K

Workday adjusted revenue growth

$

11,264.76

$

12,053.64

7.0%

$

12,203.07

8.3%

F=(B/D)*C

G=(F-A)/A

J=(H/D)*C

K=(J-A)/A

Please note the following regarding the annual revenue guidance:

•Fiscal year 2027 has one more workday than fiscal year 2026.

•Guidance excludes expected impacts from the proposed UniFirst acquisition.

•Guidance does not assume any future acquisitions.

•Guidance assumes a constant foreign currency exchange rate.

									Fiscal 2027												Fiscal 2027
			Fiscal 2026						Low end of Range						Growth vs. 2026						High end of Range						Growth vs. 2026
EPS			$	4.91					$	-											$	-
UniFirst transaction related expenses			0.03						-												-
Adjusted EPS (1)			$	4.94					$	5.36					8.5%						$	5.50					11.3%

(1)Cintas has not reconciled its guidance as to non-GAAP adjusted EPS to its most directly comparable GAAP measure as a result of uncertainty regarding, and the potential variability of the non-recurring transaction costs related to the UniFirst acquisition. Accordingly, reconciliations are not available without unreasonable effort, although it is important to note that these factors could be material to Cintas' results calculated in accordance with GAAP.

Please note the following regarding the adjusted diluted EPS guidance:

•Fiscal year 2027 interest expense net of interest income (interest, net) is expected to be approximately $105.0 million compared to $101.2 million in fiscal year 2026. The increase is primarily a result of the amortization of bridge loan financing expenses related to the UniFirst acquisition. Expected interest, net does not factor in any debt activity or issuance of commercial paper related to future share buybacks or acquisition activity, including the funding necessary for the proposed acquisition of UniFirst.

•Fiscal year 2027 effective tax rate is expected to be 20.2%, which is the same as fiscal year 2026.

•Our adjusted diluted EPS guidance does not include the impact of future share buybacks or significant economic disruptions or downturn.

•Adjusted diluted EPS guidance excludes non-recurring transaction costs related to the UniFirst acquisition, which cannot be reasonably estimated at this time.

Cintas

Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers' facilities and employees clean, safe and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor's 500 Index and Nasdaq-100 Index. 

Cintas will host a live webcast to review the fiscal 2026 fourth quarter results today at 10:00 a.m., Eastern Time. The webcast will be available to the public on Cintas' website at www.Cintas.com. A replay of the webcast will be available approximately two hours after the completion of the live call and will remain available for two weeks.