Paychex, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended February 29, 2024
April 02, 2024 at 08:30 am EDT
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Paychex, Inc. reported earnings results for the third quarter and nine months ended February 29, 2024. For the third quarter, the company reported revenue was USD 1,439.3 million compared to USD 1,381 million a year ago. Net income was USD 498.6 million compared to USD 467.4 million a year ago. Basic earnings per share from continuing operations was USD 1.39 compared to USD 1.3 a year ago. Diluted earnings per share from continuing operations was USD 1.38 compared to USD 1.29 a year ago.
For the nine months, revenue was USD 3,983.2 million compared to USD 3,777.5 million a year ago. Net income was USD 1,310.5 million compared to USD 1,206.9 million a year ago. Basic earnings per share from continuing operations was USD 3.64 compared to USD 3.35 a year ago. Diluted earnings per share from continuing operations was USD 3.62 compared to USD 3.33 a year ago.
Paychex, Inc. specializes in the development of integrated management software packages (ERP). The group also offers outsourcing services for small and mid-size companies. Net sales break down by activity sector as follows:
- payroll and human resources management solutions (74.5%): management solutions for payroll, internal accounting data, taxes, employee benefits, pensions, etc.;
- HR management solutions for professional employer organizations (23.5%): health insurance management, risk management and risk management, employee assistance schemes, etc.;
- fund management (2%).
All sales are in the United States.