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Jun 30, 2023
ADP Q4 2023 Earnings Report
ADP's Q4 2023 earnings report indicated revenue growth and increased profitability, driven by strong performance in Employer Services and effective management of client funds.
Key Takeaways
ADP reported an 8% increase in revenue to $4.5 billion for the fourth quarter, with net earnings up 24% to $777 million. Adjusted diluted EPS increased by 26% to $1.89. The company's Employer Services segment saw revenue growth of 11%, while PEO Services revenues increased by 4%.
Revenues increased by 8% to $4.5 billion, and 9% on an organic constant currency basis.
Net earnings increased by 24% to $777 million, and adjusted net earnings increased 25% to $781 million.
Diluted EPS increased by 25% to $1.87, and adjusted diluted EPS increased 26% to $1.89.
Employer Services revenues increased 11% on a reported basis and on an organic constant currency basis.
Revenue by Segment
Forward Guidance
ADP provided its fiscal 2024 outlook, including 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
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