Categories AlphaGraphs, Earnings, Other Industries
PAYX Earnings: Paychex Q4 profit rises and beats estimates; revenue up 11%
Payroll solutions provider Paychex Inc. (NASDAQ: PAYX) reported higher earnings and revenues for the fourth quarter of 2022. The results also topped Wall Street’s expectations.
At $1.14 billion, fourth-quarter revenues were up 11% year-over-year and above the consensus forecast. The top line benefited from strong performance by the main operating segments.
Adjusted profit, excluding special items, moved up to $0.81 per share from $0.72 per share in the comparable period in fiscal 2021. On a reported basis, net income was $296.4 million or $0.82 per share in the latest quarter, compared to $263 million or $0.73 per share in the prior-year period.
Check this space to read management/analysts’ comments on Paychex’s Q4 2022 results
“We delivered double-digit revenue and earnings growth compared to the prior year. Our sales teams achieved a record level of new annualized revenue sold and client retention remained above our expectations and pre-pandemic levels,” said Martin Mucci, CEO of Paychex.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
What to look for when Hormel Foods (HRL) reports Q4 2023 earnings
Shares of Hormel Foods Corporation (NYSE: HRL) were down over 1% on Monday. The stock has dropped 29% year-to-date. The food company is set to report its fourth quarter 2023 earnings
Kroger set to report Q3 results. Here’s everything you need to know
The Kroger Co. (NYSE: KR), a leading grocery retailer that operates both in-store and online, will be reporting earnings this week. The company, which is preparing to acquire rival retailer
Earnings Preview: Salesforce will likely deliver another strong quarter
Salesforce, Inc. (NYSE: CRM) achieved accelerated sales growth and profitability in recent quarters, in line with its transformation goal. The customer relationship management platform bets on new opportunities in generative