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Dec 31, 2022
ADP Q2 2023 Earnings Report
Reported strong revenue growth, margin expansion, and adjusted EPS growth.
Key Takeaways
ADP reported a 9% increase in revenues to $4.4 billion and a 17% increase in net earnings to $813 million compared to the second quarter of the previous year. Adjusted diluted EPS increased 19% to $1.96. The company is maintaining its full year guidance for revenue and adjusted diluted EPS growth.
Revenues increased 9% compared to last year's second quarter to $4.4 billion.
Net earnings increased 17% to $813 million, and adjusted net earnings increased 17% to $815 million.
Diluted earnings per share increased 18% to $1.95; adjusted diluted EPS increased 19% to $1.96.
Maintaining full year guidance for 8% to 9% revenue growth and 15% to 17% adjusted diluted EPS growth.
ADP
ADP
ADP Revenue by Segment
Revenue by Segment
Employer Services Revenue
CapyFin.comPEO Services Revenue
CapyFin.com Forward Guidance
ADP is maintaining its full year guidance for 8% to 9% revenue growth and 15% to 17% adjusted diluted EPS growth.
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