Recent Updates — CTAS
Cintas shareholders approved the reincorporation from Washington to Delaware with 350.4 million votes for, while rejecting a shareholder proposal on majority voting governance by nearly 198 million against. The company also elected its board of directors and ratified Ernst & Young as auditor. Cintas provides business uniform rental and facility services.
Cintas Corporation and UniFirst Corporation have certified to the U.S. Federal Trade Commission that they have substantially complied with a request for additional information regarding their proposed merger. The companies also entered into a timing agreement with the FTC, agreeing not to close the transaction before December 11, 2026, unless the regulator provides written notice of closing its investigation earlier. Additionally, Cintas and UniFirst certified completion of their response to a Supplementary Information Request from the Canadian Competition Bureau. The companies continue to expect the merger to close prior to the end of calendar year 2026, subject to customary conditions. Cintas Corporation is a leading provider of uniform rental and facility services.
Cintas Corporation reported fiscal 2027 first quarter results ending August 31, 2026. Revenue increased 10.9% to $3.01 billion from $2.72 billion in the prior year period, driven by an 8.9% organic growth rate. Gross margin expanded 120 basis points to 51.5%, and operating income rose 15.2% to $711.9 million. Net income grew 12.3% to $551.7 million, yielding diluted earnings per share of $1.36 compared to $1.20 previously. The company raised its full-year fiscal 2027 revenue guidance to a range of $12.15 billion to $12.27 billion and adjusted diluted EPS expectations to $5.45–$5.54, up from previous ranges. These updates reflect strong operational performance despite $14.4 million in transaction expenses related to the proposed acquisition of UniFirst Corporation. Cintas operates in the business services industry, providing uniforms, facility maintenance products, and safety equipment.
Cintas Corporation announced that Melanie W. Barstad will not stand for re-election to the board of directors at the company's 2026 annual meeting. Ms. Barstad will continue serving until the conclusion of the meeting, and her departure is unrelated to any disagreements regarding operations or policies. Cintas Corporation operates in the business services industry, providing uniform rental and facility service solutions.
Cintas Corporation appointed Jim Rozakis as President and Chief Operating Officer, effective August 1, 2026, separating the roles of President and CEO. Todd Schneider remains CEO but relinquishes the President title. Mr. Rozakis receives a $900,000 base salary, $1,125,000 target cash incentive, and $4,000,000 target long-term incentive, plus one-time awards valued at $112,500 in restricted stock and $337,500 in options. Cintas operates in the business services industry, providing uniform rental and facility service solutions.
Cintas Corporation reported fiscal 2026 fourth quarter results, with revenue rising 8.9% to $2.91 billion and net income increasing 14.0% to $511.0 million. Diluted earnings per share for the quarter was $1.26, while adjusted diluted EPS was $1.29, excluding $14.0 million in UniFirst acquisition transaction expenses. For the full fiscal year, revenue reached $11.26 billion, and diluted EPS was $4.91. The company provided fiscal 2027 guidance, projecting revenue between $12.10 billion and $12.25 billion and adjusted diluted EPS between $5.36 and $5.50. Cintas also noted that the pending UniFirst acquisition remains expected to close in the second half of calendar 2026. Cintas is a provider of uniform rental, facility services, and first aid and safety products.