2024-05-01 11:30:06 ET
Automatic Data Processing, Inc. (ADP)
Q3 2024 Earnings Conference Call
May 01, 2024, 08:30 AM ET
Company Participants
Danny Hussain - VP, IR
Maria Black - President and CEO
Don McGuire - CFO
Conference Call Participants
Owen Callahan - Barclays
Zack Ajzenman - TD Cowen
Mark Marcon - Baird
Scott Wurtzel - Wolfe Research
Tien-Tsin Huang - JPMorgan
Pete Christiansen - Citi
David Paige - the RBC Capital Markets
Kartik Mehta - Northcoast Research
Dan Dolev - Mizuho
Presentation
Operator
Good morning, my name is Michelle, and I'll be your conference operator. At this time, I would like to welcome everyone to ADP's Third Quarter Fiscal 2024 Earnings Call. I would like to inform you that this conference is being recorded. After the prepared remarks, we will conduct a question-and-answer session. Instructions will be given at that time.
I will now turn the call over to Mr. Danny Hussain, Vice President, Investor Relations. Please go ahead.
Danny Hussain
Thank you, Michelle, and welcome everyone to ADP's third quarter fiscal 2024 earnings call. Participating today are Maria Black, our President and CEO; and Don McGuire, our CFO. Earlier this morning, we released our results for the quarter. Our earnings materials are available on the SEC's website and our Investor Relations website at investors.adp.com, where you will also find the investor presentation that accompanies today's call.
During our call, we will reference non-GAAP financial measures, which we believe to be useful to investors and that exclude the impact of certain items. A description of these items along with a reconciliation of non-GAAP measures to their most comparable GAAP measures can be found in our earnings release. Today's call will also contain forward-looking statements that refer to future events and involve some risks. We encourage you to review our filings with the SEC for additional information on factors that could cause actual results to differ materially from our current expectations.
I'll now turn it over to Maria.
Maria Black
Thank you, Danny, and thank you everyone for joining us.
This morning, we reported strong 7% revenue growth and 14% adjusted diluted EPS growth for the third quarter as we continued to make progress delivering against our strategic priorities and as the labor market and the overall HCM business environment remained stable. I'll begin with a review of the quarter's results and provide a brief update on our strategy before turning it to Don to update you on our outlook and share some early considerations for next year.
In Q3, we delivered solid Employer Services new business bookings growth reaching record bookings for our Q3 period and keeping us on track for our full-year outlook. We maintained momentum in our small business portfolio with particularly strong growth in our retirement services offering, and in Q3, we also delivered strong bookings results in our midmarket, enterprise and international businesses. With a steady demand backdrop and a healthy new business pipeline, we are focused on continuing to execute for the remainder of the year....
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Automatic Data Processing, Inc. (ADP) Q3 2024 Earnings Call Transcript