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Sep 30, 2022
ADP Q1 2023 Earnings Report
Reported a strong start to fiscal year 2023 with double-digit growth in revenues and earnings.
Key Takeaways
ADP's first quarter fiscal 2023 results showed a 10% increase in revenues to $4.2 billion and an 11% increase in net earnings to $779 million. The company exceeded one million clients during the quarter and raised full year guidance for revenue, adjusted EBIT margin, and adjusted diluted EPS.
Revenues increased 10% compared to last year's first quarter to $4.2 billion.
Net earnings increased 11% to $779 million, and adjusted net earnings increased 11% to $775 million.
Diluted earnings per share increased 13% to $1.87; adjusted diluted EPS increased 13% to $1.86.
Adjusted EBIT increased 11% to $1.0 billion, and adjusted EBIT margin increased 30 basis points to 24.1%.
Revenue by Segment
Forward Guidance
ADP provided its fiscal year 2023 outlook, including revenue growth of 8% to 9% and adjusted diluted EPS growth of 15% to 17%.
Positive Outlook
- Revenue growth of 8% to 9%
- Adjusted EBIT margin expansion of 125 to 150 basis points
- Adjusted effective tax rate of approximately 23.0%
- Diluted EPS growth of 15% to 17%
- Adjusted diluted EPS growth of 15% to 17%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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