Cintas (asi/162167) engineered a strong third quarter, executives say.

The Cincinnati-headquartered corporation, a Top 40 distributor in the North American promotional products industry, reported that total sales across all its business divisions increased in its fiscal Q3, which ended February 28, by 10.3% year over year to $1.96 billion.

Todd M. Schneider, Cintas

Meanwhile, Cintas’ net income for the three-month period tallied $315.4 million, a 22% increase from the comparable quarter the year prior. Diluted earnings per share were $2.97, up from $2.37 cents in Q3 of 2021. Operating income for the quarter rose about 25% year over year to $407.6 million.

Cintas generated most of its income – about $1.55 billion – from business in its uniform rental and facility services division. The company brought in about $407.2 million in sales through its other business channels. A specific breakout on promo products/apparel sales wasn’t released.

“We are pleased with our third-quarter results,” said Cintas CEO/President Todd M. Schneider. “Our financial results are indicative of our strong value proposition.”

Bolstered by the Q3 performance and what executives believe is a favorable business outlook, Cintas has increased its fiscal guidance. “We expect our fiscal 2022 fourth-quarter revenue to be in the range of $1.96 billion to $2.02 billion and diluted EPS to be in the range of $2.54 to $2.74,” Schneider said.

Based on estimated 2020 North American promo product revenue of $163.8 million, Cintas ranked 15^th on Counselor’s most recent list of the largest distributors in the industry.