01:06 PM EST, 12/19/2024 (MT Newswires) -- Cintas ( CTAS ) raised its full-year earnings outlook after reporting fiscal second-quarter revenue that matched market forecasts, though its shares were sliding intraday Thursday.

The uniform supplier now expects fiscal 2025 earnings per share between $4.28 and $4.34, compared with a prior outlook of between $4.17 and $4.25. Analysts polled by FactSet are modeling for EPS of $4.24 in the ongoing year.

The company now expects revenue between $10.26 billion and $10.32 billion, upping the bottom end of its prior guidance from $10.22 billion. The Street is looking for revenue of $10.28 billion.

The updated guidance reflects "strong momentum and confidence in our outlook," Chief Executive Todd Schneider told analysts on a conference call, according to a FactSet transcript.

However, shares of Cintas ( CTAS ) fell about 10% in afternoon trade. Jasper Bibb, research analyst at Truist Securities, said in a note that investors may have been disappointed by a lack of revenue upside in the fiscal second quarter.

Revenue rose to $2.56 billion for the three months ended Nov. 30 from $2.38 billion a year ago, and was in line with the consensus estimate on FactSet. EPS climbed to $1.09 from $0.90.

By segment, organic sales were up 6.9% in uniform rental and facility services, about 12% in first aid and safety, and 10% in fire protection, Chief Financial Officer J. Michael Hansen said on the call. Uniform direct organic sales fell 9.2%.

The uniform direct sale business serves "Fortune 1000-type customers" such as airlines, hotels and casinos, which are growing at normalized levels, Schneider told analysts. "But the direct sale business specifically is not growing," he said.

Price: 183.58, Change: -20.81, Percent Change: -10.18