Paychex (PAYX) Reports In-Line Q3 EPS
Paychex (NASDAQ: PAYX) reported Q3 EPS of $0.46, in-line with the analyst estimate of $0.46. Revenue for the quarter came in at $693.6 million versus the consensus estimate of $701.16 million.
OUTLOOK
Our outlook for the fiscal year ending May 31, 2015 (“fiscal 2015”) is based upon current market, economic, and interest rate conditions continuing with no significant changes. Our guidance is unchanged from that provided in June 2014 and is as follows:
| Low | High | |||||||
| Payroll service revenue | 3% | — | 5% | |||||
| HRS revenue | 16% | — | 19% | |||||
| Total service revenue | 8% | — | 10% | |||||
| Net income | 6% | — | 8% |
Our guidance for fiscal 2015 for: interest on funds held for clients; operating income, net of certain items, as a percent of total service revenue; and the effective income tax rate is unchanged from the guidance we previously provided.
For earnings history and earnings-related data on Paychex (PAYX) click here.