- Automatic Data Processing press release ( NASDAQ: ADP ): Q2 Non-GAAP EPS of $1.96 beats by $0.02 .
- Revenue of $4.39B (+8.9% Y/Y) in-line.
- Maintaining full year guidance for 8% to 9% revenue growth and 15% to 17% adjusted diluted EPS growth
- Consolidated Fiscal 2023 Outlook •Revenue growth of 8% to 9% vs. 8.65% consensus. •Adjusted EBIT margin expansion of 125 to 150 basis points •Adjusted effective tax rate of approximately 23.0% •Diluted EPS growth of 15% to 17% •Adjusted diluted EPS growth of 15% to 17% vs. 15.57% consensus
- Employer Services Segment Fiscal 2023 Outlook •Employer Services revenue growth of 8% to 9% •Employer Services margin expansion of 200 to 225 basis points •Employer Services new business bookings growth of 6% to 9% •Employer Services client revenue retention decrease of 30 to 20 basis points •Increase in U.S. pays per control of 3% to 4%
- PEO Services Segment Fiscal 2023 Outlook •PEO Services revenue growth of 8% to 9% •PEO Services revenue, excluding zero-margin benefits pass-throughs, growth of 9% to 10% •PEO Services margin of flat to up 25 basis points •PEO Services average worksite employee count growth of 6% to 7%
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Automatic Data Processing Non-GAAP EPS of $1.96 beats by $0.02, revenue of $4.39B in-line, affirms FY23 outlook