Loading...
•
Sep 30, 2023
ADP Q1 2024 Earnings Report
Reported strong financial performance with revenue growth and margin expansion.
Key Takeaways
ADP reported a 7% increase in revenues to $4.5 billion and a 10% increase in net earnings to $859 million for the first quarter of fiscal year 2024. The company's adjusted EBIT increased by 7% to $1.1 billion, with adjusted diluted EPS increasing by 12% to $2.08. ADP is maintaining its fiscal 2024 outlook for revenue growth of 6% to 7% and adjusted diluted EPS growth of 10% to 12%.
Revenues increased 7% to $4.5 billion; 7% organic constant currency.
Net earnings increased 10% to $859 million, and adjusted net earnings increased 11% to $860 million.
Adjusted EBIT increased 7% to $1.1 billion, and adjusted EBIT margin increased 10 basis points to 24.2%.
Diluted earnings per share increased 11% to $2.08; adjusted diluted EPS increased 12% to $2.08.
Revenue by Segment
Forward Guidance
ADP maintains its fiscal 2024 consolidated outlook for revenue growth of 6% to 7%, adjusted EBIT margin expansion of 60 to 80 basis points, and adjusted diluted EPS growth of 10% to 12%.
Positive Outlook
- Revenue growth of 6% to 7%.
- Adjusted EBIT margin expansion of 60 to 80 basis points.
- Adjusted effective tax rate of about 23%.
- Diluted EPS growth of 10% to 12%.
- Adjusted diluted EPS growth of 10% to 12%.
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
Loading earnings performance data...
Loading earnings reaction data...