ADP Q1 FY2024 revenue $4.5B (+7% YoY), adjusted EPS $2.08 (+12%), maintains full-year guidance

AUTOMATIC DATA PROCESSING INC

2024-Q1 EPS reported $2.08 revenue$4,512,400,000

Revenue $4.5B, up 7% YoY; organic constant currency growth 7%.
Net earnings $859M (+10% YoY); adjusted net earnings $860M (+11%).
Adjusted diluted EPS $2.08, up 12% YoY.
Fiscal 2024 outlook: revenue growth 6-7%, adjusted diluted EPS growth 10-12%, EBIT margin expansion 60-80 bps.
Adjusted EBIT margin 24.2%, up 10 bps; strong client retention and new business bookings.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AUTOMATIC DATA PROCESSING INC reported first quarter ended September 30, 2023 results: revenue $4.5 billion, net income $859 million, EPS $2.08. Guidance reaffirmed.

Period: first quarter ended September 30, 2023
Revenue: $4.5 billion
Net income: $859 million
EPS: $2.08
Guidance: reaffirmed
Result: reported results

Exact text from the filing

ADP Reports First Quarter Fiscal 2024 Results • Revenues increased 7% compared to last year's first quarter to $4.5 billion; 7% organic constant currency • Net earnings increased 10% to $859 million, and adjusted net earnings increased 11% to $860 million • Adjusted EBIT increased 7% to $1.1 billion, and adjusted EBIT margin increased 10 basis points to 24.2% • Diluted earnings per share ("EPS") increased 11% to $2.08; adjusted diluted EPS increased 12% to $2.08 • Maintaining fiscal 2024 consolidated outlook for 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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Source: SEC EDGAR

accession 0000008670-23-000033

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