Cintas (asi/162167), a Top 40 promotional products distributor, reported an increase in sales and earnings for its fiscal year 2023 third quarter, which concluded February 28.

The Cincinnati, OH-headquartered corporation, best known for its uniform rental and facilities services, said that revenue for the three-month period rose 11.7% to $2.19 billion.

The figure accounts for far more than just promo product business, encompassing total company sales across all products, services and business segments. Cintas did not break out promo-specific sales. In a report, it noted that its uniform/facilities services business had sales of about $1.72 billion in Q3; all other segments added up to a combined $473.8 million.

Third quarter net income tallied $325.8 million, a rise of more than $10 million compared to last year’s Q3. Basic earnings per share were $3.19, up 5% year over year, while diluted EPS was $3.14, a rise of 5.7%.

Meanwhile, quarterly gross margin rose 15% year over year to about $1 billion. Operating income for the third quarter was $446.8 million, an increase of almost 10% compared to the same three-month period the prior year.

“Our operating segments continue to execute at a high level,” said Cintas President/CEO Todd M. Schneider.

Cintas is currently forecasting that its full fiscal year 2023 revenue will fall between $8.74 billion and $8.8 billion – which, if achieved, would constitute annual sales growth of between 11% and 12%. EPS for the year is anticipated to be in the $12.70 to $12.90 range, which would be an increase of between 12.6% and 14.4%, according to the company.

Based on estimated 2021 North American promo product revenue of $177 million, Cintas ranked 14^th on Counselor’s most recent list of the largest distributors in the industry.