Automatic Data Processing (ADP) Q3 Earnings Beat Estimates

Zacks05-02

Automatic Data Processing, Inc. ADP has reported impressive third-quarter fiscal 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. ADP’s earnings per share of $...

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ADP has reported impressive third-quarter fiscal 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.\nADP’s earnings per share of $...</p>\n\n<a href=\"https://finance.yahoo.com/news/automatic-data-processing-adp-q3-161300884.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Automatic Data Processing (ADP) Q3 Earnings Beat Estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAutomatic Data Processing (ADP) Q3 Earnings Beat Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-02 00:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/automatic-data-processing-adp-q3-161300884.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Automatic Data Processing, Inc. ADP has reported impressive third-quarter fiscal 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.\nADP’s earnings per share of $...</p>\n\n<a href=\"https://finance.yahoo.com/news/automatic-data-processing-adp-q3-161300884.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TT","symbol_name":"Trane技术","start_time":0,"source_url":"https://finance.yahoo.com/news/automatic-data-processing-adp-q3-161300884.html","article_id":"2432681693","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/TKmumOAd6Y_BRWOSIhpUhg--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/f09f60c5f7e268161926b8bdb20e734d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432681693","pubTimestamp":1714579980,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Automatic Data Processing, Inc. ADP has reported impressive third-quarter fiscal 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.ADP’s earnings per share of $2.9 beat the consensus estimate by 4.4% and increased 14.3% from the year-ago quarter. Total revenues of $5.3 billion beat the consensus estimate by a slight margin and grew 6.6% from the year-ago quarter on a reported basis and 6% on an organic constant-currency basis.The company’s stock has gained 10.7% over the past six months, outperforming the 9% rally of the industry it belongs to.Automatic Data Processing, Inc. price-eps-surprise | Automatic Data Processing, Inc. Quote. Automatic Data Processing generated $1.5 billion in cash from operating activities in the quarter. Capital expenditure amounted to $1.9 million.Automatic Data Processing expects Employer Services revenues to grow 7-8%, whereas PEO Services revenues are expected to rise 3-4%.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"TT":"Trane技术","MAN":"万宝盛华人力资源","ADP":"自动数据处理"},"translate_title":"自动数据处理（ADP）第三季度收益超出预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ADP":1,"MAN":0.9,"TT":0.9},"content_text":"Automatic Data Processing, Inc. ADP has reported impressive third-quarter fiscal 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.\nADP’s earnings per share of $2.9 beat the consensus estimate by 4.4% and increased 14.3% from the year-ago quarter. Total revenues of $5.3 billion beat the consensus estimate by a slight margin and grew 6.6% from the year-ago quarter on a reported basis and 6% on an organic constant-currency basis.\nThe company’s stock has gained 10.7% over the past six months, outperforming the 9% rally of the industry it belongs to.\n\nAutomatic Data Processing, Inc. Price and EPS Surprise\n  \nAutomatic Data Processing, Inc. price-eps-surprise | Automatic Data Processing, Inc. Quote\n\nSegmental Results\nEmployer Services’ revenues of $3.6 billion increased 8% on a reported basis and 7% at constant currency, meeting our estimate. Pays per control increased 2% from the year-ago quarter.\nPEO Services’ revenues rose 5% from the year-ago quarter to $1.7 billion and beat our estimate of $1.6 billion for fourth-quarter fiscal 2023. Average worksite employees paid by PEO Services were 732,000, up 3% from the year-ago quarter.\nInterest on funds held for clients grew 29% from the year-ago quarter to $321 million and beat our estimate of $255.8 million. ADP’s average client funds balance increased 6% to $41.7 billion. Average interest yield on client funds expanded 50 basis points to 3.1%.\nMargins\nAdjusted EBIT increased 12% from the year-ago quarter to $1.5 billion. The adjusted EBIT margin grew 140 basis points (bps) to 29.3%. \nThe margin of Employer Services increased 230 bps, while PEO Services decreased 220 bps.\nBalance Sheet & Cash Flow\nADP exited third-quarter fiscal 2024 with cash and cash equivalents of $3.3 billion compared with $1.6 billion in fourth-quarter fiscal 2023. The long-term debt of $3 billion was flat with the preceding quarter’s figure.\nAutomatic Data Processing generated $1.5 billion in cash from operating activities in the quarter. Capital expenditure amounted to $1.9 million.\nFY24 Outlook\nFor 2024, ADP expects 6-7% revenue growth. Adjusted EPS is anticipated to register 10-12% growth. The adjusted effective tax rate is estimated to be 23%. The adjusted EBIT margin is expected to grow 60-70 bps.\nAutomatic Data Processing expects Employer Services revenues to grow 7-8%, whereas PEO Services revenues are expected to rise 3-4%.\nCurrently, ADP carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nEarnings Snapshot\nTrane Technologies plc TT reported better-than-expected first-quarter 2024 results.\nTT’s adjusted EPS of $1.94 surpassed the Zacks Consensus Estimate by 18.3% and increased 37.6% year over year. Revenues of $4.2 billion beat the consensus mark by 5.7% and increased 15% year over year on a reported basis and 14% organically. Bookings were up 18% year over year on a reported basis and 17% organically.\nManpowerGroup Inc. MAN reported mixed first-quarter 2024 results.\nMAN’s quarterly adjusted earnings of 94 cents per share surpassed the consensus mark by 4.4% but declined 41.6% year over year mainly due to the run-off Proservia Germany business and Argentina-related currency translation losses. Revenues of $4.4 billion lagged the consensus mark by 0.6% and dipped 7% year over year on a reported basis and 5% on a constant-currency basis.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nManpowerGroup Inc. (MAN) : Free Stock Analysis Report\nAutomatic Data Processing, Inc. (ADP) : Free Stock Analysis Report\nTrane Technologies plc (TT) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.23.1","shortVersion":"4.23.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432681693"}