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Mar 31, 2024
ADP Q3 2024 Earnings Report
Reported a revenue increase of 7% and EPS increase of 15% compared to the last year's third quarter.
Key Takeaways
ADP's Q3 2024 earnings showed strong performance with a 7% increase in revenue to $5.3 billion and a 15% increase in diluted EPS to $2.88. The company's adjusted EBIT margin increased by 140 basis points to 29.3%. Healthy new business bookings and client retention contributed to the positive results.
Revenues increased 7% to $5.3 billion, with 6% organic constant currency growth.
Net earnings increased 14% to $1.2 billion, and adjusted net earnings increased 13% to $1.2 billion.
Adjusted EBIT increased 12% to $1.5 billion, with adjusted EBIT margin up 140 basis points to 29.3%.
Diluted EPS increased 15% to $2.88, and adjusted diluted EPS increased 14% to $2.88.
Revenue by Segment
Forward Guidance
ADP provided its fiscal year 2024 outlook, including revenue growth of 6% to 7% and adjusted diluted EPS growth of 10% to 12%.
Positive Outlook
- Revenue growth of 6% to 7%.
- Adjusted EBIT margin expansion of 60 to 70 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
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