Earnings, on an adjusted basis, moved up to $1.22 per share in the first quarter from $1.16 per share in the same period last year. Earnings topped expectations. Net income, including special items, was $383.8 million or $1.06 per share in Q1, down from last year’s profit of $427.4 million or $1.18 per share.
John Gibson, chief executive officer of Paychex, said, “Our first quarter results reflect continued progress integrating Paycor and sustained demand for our comprehensive HCM solutions. The early realization of cost and revenue synergies from the Paycor acquisition reinforces our confidence in the strategic rationale of the deal, which includes significant cross-selling potential.”
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