$CTAS · CINTAS CORP
Cintas filed its 10-Q for Q1 FY2027 (ended August 31, 2026), reporting revenue of $3.014B (+10.9% YoY), net income of $551.7M, and diluted EPS of $1.36. Gross margin was 51.5% and operating margin 23.6%, which included $14.4M in UniFirst transaction expenses. The pending $5.5B UniFirst acquisition remains subject to FTC review; a timing agreement with the FTC sets December 11, 2026 as the earliest close date.
- Revenue rose 10.9% YoY to $3.014B, with Uniform Rental at $2.29B and Other at $719M.
- Diluted EPS grew 13.3% to $1.36 from $1.20 a year ago.
- Gross margin reached 51.5%, with operating margin at 23.6% including $14.4M in UniFirst transaction costs.
- Cintas repurchased $315.7M of common stock during the quarter, up from $266.1M last year.
- The $5.5B UniFirst acquisition received FTC Second Request; timing agreement sets December 11, 2026 as earliest close date.
Extended-hours trading shows CTAS flat at $197.19, essentially unchanged from the regular-session close. The $78.9B market cap stock showed no immediate reaction to the solid Q1 beat and UniFirst update.
Cintas posted double-digit revenue and EPS growth while advancing the $5.5B UniFirst acquisition — a deal that would reshape the uniform services industry if cleared.
Cintas continues to consolidate the uniform and facility services industry with the pending $5.5B UniFirst acquisition, which would combine two of the largest players in North America. The FTC's Second Request signals heightened antitrust scrutiny.
The UniFirst transaction faces FTC antitrust review with a Second Request; the timing agreement prevents closing before December 11, 2026, and regulatory clearance is not guaranteed. Transaction expenses of $15.7M were incurred in Q1 alone, with more expected.
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