Cintas (asi/162167), the uniform provider and Top 40 promotional products distributor, increased sales more than 10% to $7.85 billion during its most recent fiscal year, which concluded May 31, according to just-released financial data.

For the year, Cintas reported a profit of $1.24 billion, or $11.65 per diluted share – an increase of 13.8%. Free cash flow was $1.30 billion, an increase of 6.5% compared to the fiscal year ended May 31, 2021. 

The results pertain to total company sales across all divisions, not just the promo products market.

Cintas also had a strong fiscal fourth quarter. Revenue increased 13% year over year during the quarter to $2.07 billion. Net income tallied $294.5 million, up from $267.7 million in last year's fourth quarter. Q4 diluted earnings per share (EPS) were $2.81, a rise from $2.47 during the same three-month span the year prior.

“We achieved these great results by productively selling new business, penetrating existing customers with more products and services, providing excellent service, driving operational efficiencies, and obtaining price increases,” said Todd M. Schneider, president/CEO of Cintas.

For fiscal year 2023, Cintas expects revenue to be in the range of $8.47 billion to $8.58 billion and diluted EPS to be in the range of $11.90 to $12.30.

Based on estimated North American 2020 promo product revenue of $163.8 million, Cintas ranked 15^th on Counselor’s list of the largest distributors in the industry. The new rankings are due out later in July 2022.