Sims Lifecycle Services (SLS), a wholly owned Sims Limited subsidiary based in Irvine, CA, offers end-to-end lifecycle management for AI data centers, leveraging a 4-year decommissioning cycle and full-service integration with clients' IT systems to enhance switching costs.
Operationally, SLS built a hyperscaler-grade site in 5 months, reprogrammed 1 million DIMMs within a year, and maintains 50–60 % excess capacity in the U.S. to meet rapid AI infrastructure refreshes.
Financially, from 2023 to 2025 underlying EBIT rose 78 % to $32 million, revenue increased from $325 million to $427 million, and hyperscaler revenue doubled to $200 million, representing 47 % of total revenue.
SLS remains capital-light (CapEx of $13 million in the last year vs. $4 million prior), with a focus on automation, geographic expansion, and diversified revenue streams (resale, service fees, commodity) to sustain growth.

Sep 24, 2025, 2:00 PM

Transcript

Cintas reports Q1 2026 earnings

CTAS

Earnings

Guidance Update

Share Buyback

Cintas reported Q1 revenue of $2.72 B, up 8.7% year-over-year (organic growth 7.8%) with 50.3% gross margin, a 20 bp increase.
Operating income rose 10.1% to $617.9 M; net income was $491.1 M and EPS grew 9.1% to $1.20.
Generated $414.5 M of operating cash flow, invested $102 M in capex, repurchased $347.4 M of shares, and increased the dividend by 15.4%—the 42nd consecutive annual raise.
Raised fiscal 2026 guidance to $11.06–$11.18 B in revenue (+7%–8.1%) and $4.74–$4.86 EPS (+7.7%–10.5%).

Sep 24, 2025, 2:00 PM

Transcript

Cintas reports strong Q1 revenue, raises FY26 forecast

CTAS

Earnings

Guidance Update

Q1 EPS of $1.20 met expectations, with revenue of $2.72 billion, up 8.8% year-over-year
Raised FY26 revenue forecast to $11.06 billion–$11.18 billion and modestly increased EPS guidance
Maintains solid liquidity (current ratio 2.09) and manageable leverage (debt-to-equity 0.57)
Market capitalization near $80 billion, underpinned by strategic investments in technology and talent

Sep 24, 2025, 1:23 PM

Morningstar

Cintas reports fiscal 2026 Q1 results and raises guidance

CTAS

Earnings

Guidance Update

Share Buyback

Revenue for Q1 fiscal 2026 rose 8.7% to $2.72 billion (organic growth 7.8%)
Operating income increased 10.1% to $617.9 million, representing 22.7% of revenue
Diluted EPS was $1.20, up 9.1% year-over-year
Raised full-year guidance: revenue to $11.06–11.18 billion and diluted EPS to $4.74–4.86
Year-to-date share repurchases totaled $347.4 million, and the quarterly dividend increased 15.4% to $182.3 million

Sep 24, 2025, 12:34 PM

8-K

Cintas Corp Announces $400M Senior Notes Offering

CTAS

Debt Issuance

Cintas Corporation is issuing $400,000,000 4.200% Senior Notes due 2028, supported by multiple guarantors, as detailed in the filing documents.
The filing includes key legal opinions, underwriting agreements, and registration statements effective as of May 2, 2025.
A pricing term sheet outlines important terms including initial pricing, redemption features, and settlement details (expected May 2, 2025).

May 2, 2025, 12:00 AM

8-K

Cintas Corporation Announces Executive Transition

CTAS

CFO Change

Management Change

Mike Hansen will retire as CFO and transition to Assistant to the CEO effective May 31, 2025, continuing to support strategic initiatives.
Scott Garula, currently President of the Rental Division, has been appointed as the new CFO, effective June 1, 2025.
The announcement was made via a press release on April 4, 2025, confirming the leadership change in the company.

Apr 4, 2025, 12:00 AM

8-K

Cintas Reports Q3 2025 Earnings Results

CTAS

Earnings

Guidance Update

M&A

Revenue of $2.61B in Q3 2025, representing an 8.4% increase year-over-year with organic growth of 7.9%, driven by strong performance across key segments.
Achieved an all-time high gross margin of 50.6% and an operating income margin of 23.4%, with diluted EPS rising 17.7% to $1.13.
Updated fiscal 2025 guidance narrowed revenue expectations and raised annual diluted EPS targets to a range of $4.36–$4.40, reflecting confidence in ongoing operational strength.
Terminated discussions for the proposed UniFirst acquisition at $275 per share, underscoring a focus on strategic investments, efficient capital allocation, and shareholder returns through dividends and opportunistic buybacks.

Mar 26, 2025, 2:01 PM

Transcript

Cintas Reports Q3 2025 Financial Results

CTAS

Earnings

Guidance Update

Dividends

Revenue reached $2.61 billion in Q3 2025, reflecting an 8.4% increase compared to Q3 2024, with gross margin improving to 50.6% and operating income rising to $609.9 million.
The company reported a 16.6% increase in net income to $463.5 million and paid an aggregate quarterly dividend of $158.1 million, up 14.9% from the prior year.
Updated fiscal 2025 guidance now reflects a revised revenue range of $10.280 to $10.305 billion and an increased diluted EPS guidance of $4.36 to $4.40, following adjustments for foreign currency impacts.

Mar 26, 2025, 12:00 AM

8-K

Cintas Terminates UniFirst Acquisition Discussions

CTAS

M&A

Cintas Corporation has terminated discussions with UniFirst Corporation regarding its proposed acquisition of all outstanding common and class B shares of UniFirst.
The proposal offered a cash price of $275.00 per share, representing a 46% premium over UniFirst’s ninety-day average closing price as of January 6, 2025.
CEO Todd Schneider highlighted that, despite the potential value of the transaction, inadequate substantive engagement on key terms led to the decision to cease further discussions.

Mar 24, 2025, 12:00 AM

8-K

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