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CINCINNATI - Cintas Corporation (NASDAQ:CTAS), a leader in the provision of specialized services to businesses with a market capitalization of $82.69 billion, announced a change in its executive team with the upcoming retirement of current Executive Vice President and Chief Financial Officer (CFO), Mike Hansen. Effective May 31, 2025, Hansen will step down and assume the role of Assistant to the CEO. Scott Garula, who currently leads Cintas’ Rental Division, is set to succeed Hansen as the new CFO.
Todd Schneider, President and CEO of Cintas, emphasized the significance of leadership continuity and praised the succession planning process that led to this transition. He expressed gratitude for Hansen’s decade-long tenure as CFO, which coincided with a period of exceptional performance and value creation for the company, marked by impressive gross profit margins of 49.92% and revenue growth of 7.79%. According to InvestingPro, the company maintains strong financial health with consistent dividend payments for 33 consecutive years. Schneider also commended Garula’s financial expertise and leadership record, expressing confidence in his ability to foster continued growth and shareholder value.
Garula has been with Cintas since 1996, starting as an accountant and advancing through various leadership roles. His experience includes serving as President of First Aid & Safety and Fire Protection before taking on his current role. Garula’s extensive knowledge of Cintas’ operations and financial management is expected to be instrumental in his new position.
Upon the announcement, Garula expressed his honor in accepting the CFO role and his commitment to Cintas’ financial strategy, focusing on investment flexibility and shareholder returns. Based on InvestingPro analysis, which indicates the company is trading at premium valuations, Cintas demonstrates strong operational efficiency with liquid assets exceeding short-term obligations. Hansen, reflecting on his time as CFO, stated his belief in the company’s strong financial standing and the appropriateness of the timing for his retirement from the role. He also conveyed his enthusiasm for aiding Garula during the transition and his continued involvement in the company’s strategic initiatives.
Cintas Corporation, headquartered in Cincinnati, supports over one million businesses with products and services that ensure operational readiness, safety, and presentation. The company’s extensive offerings include uniforms, facility services, and safety products. Cintas is publicly traded on the Nasdaq Global Select Market and is a constituent of the S&P 500 and Nasdaq-100 indices.
The information in this article is based on a press release statement from Cintas Corporation.
In other recent news, Cintas Corporation reported a 7.9% organic revenue growth, with earnings per share (EPS) of $1.13, including a $0.03 benefit from a property sale. The company has tightened its fiscal year 2025 revenue guidance due to foreign exchange headwinds but maintained its organic revenue growth guidance at 7.7%. Analysts have responded to these developments with various adjustments to their ratings and price targets. UBS increased its price target to $240 and maintained a Buy rating, citing the company’s strong third-quarter results and raised EPS guidance. Truist Securities also raised its price target to $230, highlighting Cintas’ better-than-expected financial performance and slightly adjusted fiscal 2025 guidance. Morgan Stanley lifted its price target to $213, reflecting an optimistic outlook on future earnings, while Stifel adjusted its target to $204, maintaining a Hold rating. Additionally, Cintas concluded its pursuit of acquiring UniFirst Corporation, focusing instead on smaller strategic acquisitions and potential share buybacks. These developments underscore Cintas’ resilience and ability to navigate current economic conditions effectively.
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