Paychex (PAYX) Tops Q1 EPS by 2c

Paychex (NASDAQ: PAYX) reported Q1 EPS of $0.67, $0.02 better than the analyst estimate of $0.65. Revenue for the quarter came in at $862.8 million versus the consensus estimate of $850.64 million.

Outlook

Our outlook for the fiscal year ending May 31, 2019 (“fiscal 2019”) is based upon current market expectations and economic conditions continuing with no significant changes. Our guidance for fiscal 2019 remains unchanged from what we provided previously. As a result of the adoption of ASC Topic 606, we are providing the following additional fiscal 2019 guidance:

• Management solutions revenue is anticipated to increase approximately 4%; and
• PEO and insurance services revenue is anticipated to increase in the range of 18% to 20%.

For earnings history and earnings-related data on Paychex (PAYX) click here.

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