Cintas expects earnings in 3Q, 4Q to fall below Street view due to slow recovery in job growth

Cintas 3Q, 4Q earnings to fall below Street view

CINCINNATI — Uniform maker Cintas Corp. on Tuesday warned that earnings for its third and fourth fiscal quarters would fall below analysts’ expectations due to a slow recovery in employment.

The company expects third-quarter profit to range from 29 cents to 31 cents per share. Analysts expect 37 cents per share on average, according to Thomson Reuters.

Cintas also said adverse weather conditions in the Northeast, especially affecting Baltimore, Washington and Philadelphia, may affect its third-quarter results. But the company said it isn’t able to quantify the weather’s impact on results yet.

Cintas said it expects to post revenue of $850 million to $860 million in the third quarter ending in February. Analysts forecast $858 million.

Companies’ staffing levels directly affect Cintas.

For the fourth quarter, Cintas sees earnings coming in at 30 cents per share to 34 cents per share. That compares with the 41 cents per share analyst expect

Revenue should be between $870 million to $890 million. Analysts had forecast $888.9 million.

In December, Cintas CEO Scott Farmer warned that analysts forecasts for its 2010 fiscal year were “too optimistic.”

Shares of Cintas, based in Cincinnati, fell 54 cents, or 2.2 percent, to $24.06 in morning trading.