Top 40 distributor Cintas (asi/162167) announced late Thursday that it increased overall company revenue nearly 6% to about $1.68 billion during its fiscal third quarter. The tally just missed the consensus forecast of economists, which sent the Cincinnati-based firm’s stocks lower in the immediate aftermath of the announcement.

Meanwhile, Cintas generated nearly $5.1 billion in revenue —a 6.1% gain -- during the first nine months of the fiscal year ended Feb. 28, according to the company’s earnings data.

Scott Farmer, CEO, Cintas

Cintas reported that its Q3 net income was $203.3 million, a nearly 33% fall from the same period the prior year. Diluted earnings per share were $1.85, down 31.7%. Still, the EPS performance outpaced the prediction of analysts, who were expecting a $1.71 showing.

An analysis of Cintas earnings data indicates that declines in income from continuing operations and discontinued operations were factors in the third quarter earnings regression. A negative impact of $0.24 per share that stemmed from a one-time cash payment to employees dragged on earnings.

Nonetheless, Cintas’ earnings for the nine-month period were up a bit. Net income was $658.86 million, a 0.4% increase, while diluted EPS registered $5.93, up 0.5%.

Cintas did not break out its North American promotional products sales, but noted that the organic growth rate for its Uniform Rental and Facility Services operating segment was 6.2%, while the organic growth rate for its First Aid and Safety Services operating segment was 8.6%.

For the third quarter, Cintas’ operating income was up 39% to $278.25 million. For the first nine months, operating income increased nearly 20% to $819.12 million.

With estimated 2017 North American promotional product revenue of $168.2 million, Cintas ranked 14^th on Counselor’s latest list of the largest distributors in the industry.