Paychex (PAYX) Reports In-Line Q3 EPS
Paychex (NASDAQ: PAYX) reported Q3 EPS of $0.50, in-line with the analyst estimate of $0.50. Revenue for the quarter came in at $752.6 million versus the consensus estimate of $751.2 million.
Outlook
Our outlook for the fiscal year ending May 31, 2016 (“fiscal 2016”) is based upon current market, economic, and interest rate conditions continuing with no significant changes. Our guidance is as follows:
| Low | High | |||||||||
| Payroll service revenue | 4 | % | — | 5 | % | |||||
| HRS revenue | 10 | % | — | 13 | % | |||||
| Total service revenue | 7 | % | — | 8 | % | |||||
| Net income (1) | 8 | % | — | 9 | % | |||||
| (1) | Net income guidance excludes the impact of the net tax benefit related to prior tax years that was recorded in the first quarter. |
For earnings history and earnings-related data on Paychex (PAYX) click here.