Paychex, Inc. Reports Third Quarter Results and Improves Full Year Guidance; Reflects Client Base Growth and Strong Client Retention

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Go back to Paychex, Inc. Reports Third Quarter Results and Improves Full Year Guidance; Reflects Client Base Growth and Strong Client Retention

Paychex (PAYX) Tops Q3 EPS by 4c, Offers Guidance

April 6, 2021 8:32 AM EDT

Paychex (NASDAQ: PAYX) reported Q3 EPS of $0.96, $0.04 better than the analyst estimate of $0.92. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.11 billion.

Business Outlook:

Our outlook for the fiscal year ending May 31, 2021 (fiscal 2021) incorporates anticipated impacts resulting from the COVID-19 pandemic based on current assumptions and market conditions. Changes in the macroeconomic environment could alter our guidance. During the nine months, we recognized one-time costs of $32.2 million related to the acceleration of cost-saving initiatives, including the long-term strategy to reduce our geographic... More