ADP Sees Fiscal Year 2024 EPS, Revenue Growth, Boding Well for Jobs Market
26 Julho 2023 - 9:04AM
Dow Jones News
By Rob Curran
Payroll-services company Automatic Data Processing forecast
earnings and revenue growth for its fiscal year ending June 2024,
in a vote of confidence to the U.S. jobs market.
The Roseland, N.J., company targeted growth in earnings per
share between 10% and 12% for fiscal 2024. Based on net income of
$8.21 a share for the year ended June 30, that would translate to
earnings between $9.03 and $9.20 a share.
On an adjusted basis, ADP also forecast earnings growth between
10% and 12% from the fiscal 2023 level of $8.23 a share.
ADP forecast annual revenue growth in a range of 6%-to-7% from
$18 billion for the year ended June 30. That translates to revenue
of $19.08 billion to $19.26 billion.
ADP forecast revenue growth at its employer services unit in a
range between 7% and 8%. The company expects PEO Services unit
revenue to grow in a range between 3% and 5%.
ADP projected growth in adjusted earnings before interest and
taxes margins in a range of 60 basis points to 80 basis points.
Write to Rob Curran at rob.curran@wsj.com
(END) Dow Jones Newswires
July 26, 2023 07:49 ET (11:49 GMT)
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