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Paychex, Inc. PAYX reported fourth-quarter fiscal 2021 earnings per share of 72 cents beating the Zacks Consensus Estimate of 67 cents. Earnings also increased 18% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for Paychex’s fourth-quarter fiscal 2021 earnings remained stable over the last 60 days.
The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 6.6%.
Revenues Better Than Expected
Paychex recorded revenues of $1.03 billion which outperformed the Zacks Consensus Estimate of $980.6 million. Moreover, revenues compared favorably with the year-ago figure of $915.1 million.
Key Stats to Note: For fiscal 2022, Paychex expects total revenues to register almost 7% growth. Adjusted earnings per share are expected to register 10-12% growth. Management Solutions revenues are expected to grow nearly 7%. PEO and Insurance Solutions revenues are anticipated to register 8-10% growth. Interest on funds held for clients is expected to be flat. Adjusted operating margin is expected to be almost 38%. Adjusted EBITDA margin is expected to be nearly 42%.
Zacks Rank: Currently, Paychex has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Paychex earnings report later!
Paychex, Inc. Price and EPS Surprise
Paychex, Inc. price-eps-surprise | Paychex, Inc. Quote
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