Cintas (asi/162167) came out of the gates kicking to start its fiscal year.

The Cincinnati, OH-based corporation, a Top 40 promo products distributor best known for its uniform services, increased sales, income and margins in its fiscal year 2023 first quarter, which concluded Aug. 31.

Cintas recently announced the positive financial results, reporting that total company-wide sales over the three-month period reached $2.17 billion, an increase of 14.2% compared to the same quarter the prior year.

The firm didn’t break out promo products revenue specifically, but CEO Todd M. Schneider noted that “each of our operating segments increased at a double-digit rate.”

Cintas posted a strong bottom-line performance. Net income was $351.7 million for the quarter, up about $20 million year over year. Diluted earnings per share (EPS) tallied $3.39, up from $3.11 in the previous year’s first quarter.

Meanwhile, Q1 gross margin reached $1.02 billion, up from $902.8 million. Quarterly operating income rose $46 million year over year to $440.1 million. Fiscal 2023 first quarter net cash provided by operating activities was $298.2 million, compared to $262.1 million in last year’s first quarter, an increase of nearly 14%.

Following the positive Q1, Cintas has increased its sales and earnings forecast for the fiscal year. “We are raising our annual revenue expectations from a range of $8.47 billion to $8.58 billion to a range of $8.58 billion to $8.67 billion and diluted EPS from a range of $11.90 to $12.30 to a range of $12.30 to $12.65,” said Schneider.

In July, Cintas reported that it increased its full-year fiscal 2022 sales by more than 10%. Profit and free cash flow grew, too.

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