UDI - Behind The Numbers: Paychex Delivers 4% Sales Growth In Q3 Raises Eyebrows With Revised Outlook | Benzinga
Payroll services company Paychex, Inc. (NASDAQ:PAYX) reported mixed third-quarter FY24 results.
The company reported sales growth of 4% Y/Y to $1.439 billion, missing the analyst consensus estimate of $1.458 billion.
Total revenue growth in the third fiscal quarter reflected a lower contribution from the company’s Employee Retention Tax Credit (ERTC) Service than the prior year period.
Management Solutions revenue rose 2% Y/Y to $1.0 billion, led by growth in the number of clients served across the human capital management (HCM) solutions suite and higher product penetration, including HR Solutions and Retirement.
Adjusted EPS of ...