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HomeFinance NewsSIRI, CTAS, UNFI, and others: A brief overview of select companies

SIRI, CTAS, UNFI, and others: A brief overview of select companies

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Cintas shares fell 4.8% after the corporate apparel company reported its fiscal first-quarter earnings for 2024. While Cintas exceeded analysts’ earnings per share estimate of $3.67, its revenue matched expectations. The company raised its full-year guidance but fell short of analysts’ estimates on the lower end of its EPS and revenue predictions.

Pinterest saw its shares rise almost 1% after HSBC initiated coverage of the stock with a buy rating. The investment bank praised Pinterest for having the right management team, a product suitable for shopping, and a distinctive capital-light strategy for social commerce.

United Natural Foods experienced a 24% drop in shares after it released lower-than-expected forecasts for earnings per share and adjusted EBITDA in the coming year. The company cited challenges in profitability as the reason for the shortfall, with its guidance ranging between a loss of 88 cents per share to earnings of 38 cents per share, excluding items. Analysts had anticipated $1.94 per share. Additionally, United Natural Foods missed analysts’ revenue estimate for its fiscal fourth quarter.

In summary, Cintas reported better-than-expected earnings but fell short on revenue, Pinterest received a favorable rating from HSBC, and United Natural Foods’ forecasts disappointed analysts, leading to a significant drop in shares.

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