Ceridian (CDAY) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Ceridian HCM (CDAY) reported revenue of $365.9 million, up 21.5% over the same period last year. EPS came in at $0.32, compared to $0.21 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $358.05 million, representing a surprise of +2.19%. The company delivered an EPS surprise of +10.34%, with the consensus EPS estimate being $0.29.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Ceridian performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Total Cloud recurring: $292.30 million versus $280.57 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +35% change.
Revenue- Professional services and other: $51 million versus $53.68 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.8% change.
Revenue- Recurring: $314.90 million compared to the $304.67 million average estimate based on three analysts. The reported number represents a change of +25.4% year over year.
View all Key Company Metrics for Ceridian here>>>
Shares of Ceridian have returned +7.3% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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