Cintas Corporation Supplies Update on COVID-19 Influence on Its Business

Cintas Corporation (Nasdaq: CTAS) right now furnished an update on the COVID-19 pandemic’s affect on its small business.

Scott D. Farmer, Cintas Chairman and Main Executive Officer said, “At the time of our fiscal second quarter earnings meeting simply call in late December, significantly uncertainty existed. COVID-19 cases ended up surging. Economic indicators mirrored an economic recovery that slowed significantly. Numerous states and provinces reinstituted non permanent financial restrictions in reaction to mounting COVID-19 situations. Vaccines have been just starting to be distributed. All of these products contributed to a lack of clarity about their outcomes on our business in our fiscal 3rd quarter. As a end result, we did not offer fiscal advice.”

Mr. Farmer continued, “Immediately after peaking in early January, COVID-19 conditions have steadily lessened, and the impacts on our enterprise in our fiscal 3rd quarter, when even now major, are clearer. As a result, we want to offer a economical update in advance of our 3rd quarter earnings announcement. We anticipate our third quarter profits to be in the array of $1.75 billion to $1.76 billion and diluted earnings for each share to be in the vary of $2.15 to $2.25. Make sure you note that this year’s 3rd quarter is made up of one particular a lot less workday than final year’s third quarter, we hope our third quarter successful tax price to be in the variety of 13% to 15%, and the economic guidance excludes any effects from most likely important winter season storms.”

Mr. Farmer concluded, “Cintas continues to present vital products and solutions and services to our clients to assure they are READY™ to open their doorways with confidence every single working day. We are proudly providing our buyers with clean up garments, health care scrubs, microfiber towels and mops, disinfectant and sanitizer spray solutions, restroom supplies, hand sanitizer dispenser expert services, own protecting devices which include experience masks and gloves, and various other products and solutions and solutions to aid businesses retain their amenities, staff members and buyers clean up and safe and sound.”

Cintas’ consolidated equilibrium sheet remains good, and it now has significant availability below its credit facility. Cintas is a robust money stream business and has a observe-history of successful money allocation. Quarter to date, Cintas has obtained $82. million of Cintas inventory underneath its buyback application. On January 19, 2021, the Company’s Board of Directors approved a $.75 per share quarterly dividend payable on March 15, 2021 to shareholders of document as of February 15, 2021.

Adhering to this press release, Cintas intends to return to its typical quarterly economical reporting cadence. The Corporation will announce in March its total fiscal 3rd quarter final results for the time period finished February 28, 2021 and perform a meeting contact to address these benefits.

About Cintas

Cintas Company can help additional than a single million firms of all varieties and measurements get READY™ to open up their doorways with confidence each and every day by furnishing a vast array of items and solutions that increase our customers’ picture and assistance maintain their facilities and staff members cleanse, secure and looking their ideal. With solutions and products and services which includes uniforms, floor treatment, restroom supplies, to start with assist and protection items, fireplace extinguishers and tests, and basic safety and compliance education, Cintas can help consumers get Completely ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 business traded more than the Nasdaq World Find Sector below the symbol CTAS and is a element of both of those the Typical & Poor’s 500 Index and the Nasdaq-100 Index.

Warning About Ahead-Looking STATEMENTS

The Non-public Securities Litigation Reform Act of 1995 offers a safe harbor from civil litigation for ahead-looking statements. Ahead-hunting statements may be discovered by phrases these kinds of as “estimates,” “anticipates,” “predicts,” “initiatives,” “programs,” “expects,” “intends,” “concentrate on,” “forecast,” “thinks,” “seeks,” “could,” “ought to,” “may” and “will” or the negative variations thereof and identical phrases, phrases and expressions and by the context in which they are made use of. These kinds of statements are based on present-day anticipations of Cintas and speak only as of the date designed. You should not place undue reliance on any forward-searching assertion. We are unable to ensure that any forward-looking assertion will be recognized. These statements are subject to a variety of risks, uncertainties, likely inaccurate assumptions and other variables that could trigger actual results to differ from all those established forth in or implied by this Push Release. Elements that could induce these a variation contain, but are not limited to, the finalization of our monetary outcomes as of and for the quarter ended February 28, 2021, which could vary from the estimates presented herein the likelihood of larger than expected operating charges such as vitality and fuel prices lower profits volumes decline of buyers owing to outsourcing trends the general performance and expenses of integration of acquisitions fluctuations in prices of resources and labor including improved clinical fees fees and possible effects of union organizing functions failure to comply with federal government polices relating to work discrimination, employee shell out and positive aspects and staff well being and protection the impact on functions of exchange amount fluctuations, tariffs and other political, financial and regulatory dangers uncertainties about any present or freshly-uncovered costs and liabilities related to environmental compliance and remediation the charge, benefits and ongoing evaluation of internal controls for financial reporting required by the Sarbanes-Oxley Act of 2002 the impact of new accounting pronouncements disruptions induced by the inaccessibility of laptop methods details, which include cybersecurity risks the initiation or result of litigation, investigations or other proceedings higher assumed sourcing or distribution fees of products the disruption of functions from catastrophic or amazing activities including viral pandemics these types of as the COVID-19 coronavirus the volume and timing of repurchases of our prevalent stock, if any modifications in federal and condition tax and labor laws and the reactions of rivals in conditions of selling price and services. Cintas undertakes no obligation to publicly release any revisions to any forward-searching statements or to or else update any forward-hunting statements whether or not as a final result of new information or to reflect activities, circumstances or any other unanticipated developments arising just after the date on which this kind of statements are made. A even further list and description of challenges, uncertainties and other issues can be found in our Once-a-year Report on Form 10-K for the 12 months ended May well 31, 2020 and in our reviews on Types 10-Q and 8-K. The hazards and uncertainties explained herein are not the only ones we may perhaps encounter. Additional hazards and uncertainties presently not acknowledged to us, or that we currently imagine to be immaterial, may well also hurt our company.

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J. Michael Hansen, Executive Vice President and Chief Monetary Officer – 513-972-2079
Paul F. Adler, Vice President – Treasurer & Trader Relations – 513-972-4195