ADP Q4 beat: revenue $4.5B (+8%), EPS $1.87 (+25%); FY2023 $18B (+9%), FY2024 guidance positive

AUTOMATIC DATA PROCESSING INC

2023-FY EPS reported $8.21 revenue$18,012,200,000

Q4 revenue $4.5B (+8% YoY, +9% organic constant currency); adjusted diluted EPS $1.89 (+26%).
FY2023 revenue $18.0B (+9%); net earnings $3.4B (+16%); adjusted diluted EPS $8.23 (+17%).
Employer Services new business bookings rose 10% to $1.9B; retention at record level.
Adjusted EBIT margin FY2023 24.8% (+130 bps); Q4 margin 22.5% (+270 bps).
FY2024 outlook: revenue growth 6-7%, adjusted EBIT margin up 60-80 bps, adjusted EPS growth 10-12%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AUTOMATIC DATA PROCESSING INC reported Fiscal 2024 outlook results: revenue 6% to 7%, EPS 10% to 12%. Guidance initiated.

Period: Fiscal 2024 outlook
Revenue: 6% to 7%
EPS: 10% to 12%
Guidance: initiated
Result: guidance update

Exact text from the filing

Fiscal 2024 consolidated outlook includes revenue growth of 6% to 7%, adjusted EBIT margin expansion of 60 to 80 basis points, and adjusted diluted EPS growth of 10% to 12%

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AUTOMATIC DATA PROCESSING INC reported fourth quarter and fiscal year ended June 30, 2023 results: revenue $18.0 billion, net income $3.4 billion, EPS $8.21.

Period: fourth quarter and fiscal year ended June 30, 2023
Revenue: $18.0 billion
Net income: $3.4 billion
EPS: $8.21
Result: reported results

Exact text from the filing

Revenues increased 9% to $18.0 billion for the year; 10% organic constant currency

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AUTOMATIC DATA PROCESSING INC reported fourth quarter ended June 30, 2023 results: revenue $4.5 billion, net income $777 million, EPS $1.87.

Period: fourth quarter ended June 30, 2023
Revenue: $4.5 billion
Net income: $777 million
EPS: $1.87
Result: reported results

Exact text from the filing

Fourth Quarter and Fiscal 2023 Consolidated Results Compared to last year’s fourth quarter, revenues increased 8% to $4.5 billion and 9% on an organic constant currency basis. Net earnings increased 24% to $777 million, and adjusted net earnings increased 25% to $781 million.

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Source: SEC EDGAR

accession 0000008670-23-000019

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