ADP Beats 4Q Earnings Estimates; Gives 2020 Outlook
31 Julho 2019 - 8:49AM
Dow Jones News
By Michael Tobin
Automatic Data Processing Inc. (ADP) reported fourth quarter
earnings that beat analysts' expectations.
The online payroll and human resources solutions company
reported a profit of $475.5 million, or $1.09 a share, compared
with $140.9 million, or 32 cents a share, a year prior. Analysts
polled by FactSet estimated earnings of $1.10 a share.
ADP attributed the earnings growth to last year's $365 million
pre-tax charge associated with ADP's Voluntary Early Retirement
Program and other company initiatives.
ADP had adjusted earnings of $1.14 a share, compared with 99
cents a share in the prior year period. Analysts expected adjusted
earnings of $1.13 a share.
The company had $3.5 billion in revenue, compared with $3.32
billion during last year's fourth quarter. Analysts expected
revenue of $3.50 billion.
For the full-year 2020, ADP guided for revenue growth of 6% to
7% and earnings growth of 14% to 16%. The company guided for
adjusted earnings growth of 12% to 14%.
Write to Michael Tobin at michael.tobin@wsj.com
(END) Dow Jones Newswires
July 31, 2019 07:34 ET (11:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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