Paychex Inc.

NASDAQ:PAYX   3:59:59 PM EDT
85.02
+1.03 (+1.23%)
Other Pre-Announcement

Paychex Inc Reports First Quarter Results

Published: 10/06/2020 13:07 GMT
Paychex Inc (PAYX) - Paychex, Inc. Reports First Quarter Results.
Q1 Adjusted Non-GAAP Earnings per Share $0.63.
Q1 Earnings per Share $0.59.
Q1 Revenue $932.2 Million Versus Refinitiv Ibes Estimate of $895.4 Million.
Q1 Earnings per Share Estimate $0.55 -- Refinitiv Ibes Data (analyst estimates).
FY Total Revenue is Anticipated to Decline in Range of 2% to 4%.
Effects of Covid-19 Pandemic Continue to Impact Results.
Cost-saving Initiatives Are Underway and Proceeding As Expected.
During Q1, Recognized One-time Costs of $31.2 Million Related to Acceleration of Cost-saving Initiatives.
FY Peo and Insurance Solutions Revenue is Anticipated to Decline in Range of 2% to 5%.
FY Management Solutions Revenue is Anticipated to Decline in Range of 1% to 3%.
FY Adjusted Diluted Earnings per Share is Anticipated to Decline in Range of 6% to 8%.
FY2021 Earnings per Share View $2.76, Revenue View $3.89 Billion -- Refinitiv Ibes Data (analyst estimates).