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Mar 31, 2023
ADP Q3 2023 Earnings Report
Reported strong third quarter fiscal 2023 results with revenue growth, margin expansion, and EPS growth.
Key Takeaways
ADP reported a strong third quarter with a 9% increase in revenues to $4.9 billion. Net earnings increased by 12% to $1.0 billion, and diluted EPS increased by 14% to $2.51. The company is raising full year guidance for adjusted diluted EPS growth.
Revenues increased 9% compared to last year's third quarter to $4.9 billion.
Net earnings increased 12% to $1.0 billion.
Diluted earnings per share increased 14% to $2.51.
Adjusted diluted EPS increased 14% to $2.52.
ADP
ADP
ADP Revenue by Segment
Revenue by Segment
Employer Services Revenue
CapyFin.comPEO Services Revenue
CapyFin.com Forward Guidance
ADP provided fiscal year 2023 outlook, including revenue growth of 8% to 9% and adjusted diluted EPS growth of 16% 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 about 23%.
- Diluted EPS growth of 16% to 17%.
- Adjusted diluted EPS growth of 16% to 17%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income