1) Strong Financial Performance
- Total revenue for Q4 2026 increased by 8.9% to $2.91 billion, with organic revenue growth at 8.4%.
- Full year revenue reached approximately $11.26 billion, also an 8.9% increase YoY.
- Gross margin for Q4 was 51%, maintaining an all-time high, and up 130 basis points YoY.
- Operating income grew 12.7% to $673 million, with an operating margin of 23.2%.
- Diluted EPS for Q4 was $1.26, a 15.6% increase YoY; adjusted EPS was $1.29, up 18.3%.

2) Segment Performance Insights
- Uniform Rental Facility Services saw organic growth of 7.9%, while First Aid and Safety Services grew by 13.2%.
- Fire Protection services reported 10.7% growth, with gross margins reaching an all-time high of 50.8%.
- Retention rates remain strong, with pricing close to historical levels, indicating robust customer satisfaction and demand across segments.

3) Strategic Investments and M&A
- Cintas continues to prioritize investments in technology, products, and people, alongside pursuing strategic acquisitions.
- The acquisition of UniFirst is progressing, with shareholder approval received; regulatory clearance is pending.
- The company remains optimistic about the long-term value creation from this merger, despite ongoing regulatory processes.

4) Guidance and Outlook for Fiscal 27
- For fiscal 27, Cintas expects revenue between $12.1 billion and $12.25 billion, implying growth of 7.4% to 8.7%.
- Adjusted EPS guidance is set between $5.36 and $5.50, reflecting growth of 8.5% to 11.3%.
- The guidance assumes stable foreign currency exchange rates and no additional acquisitions, with an effective tax rate similar to fiscal 26.

5) Market Conditions and Future Considerations
- The company is confident in its ability to navigate macroeconomic uncertainties, focusing on controllable factors like investment in business and customer service.
- There are expectations of continued strong demand across various verticals, particularly healthcare and government sectors, despite potential headwinds from energy costs and inflation.

Bottom line: Cintas demonstrated robust growth and profitability in Q4 2026, with strong guidance for fiscal 27, supported by strategic investments and a solid operational foundation. The ongoing acquisition of UniFirst presents a significant opportunity for future growth, making Cintas a compelling investment for shareholders.