For the quarter ended February 2023, Paychex (PAYX - Free Report) reported revenue of $1.38 billion, up 8.2% over the same period last year. EPS came in at $1.29, compared to $1.15 in the year-ago quarter.
The reported revenue represents a surprise of +1.48% over the Zacks Consensus Estimate of $1.36 billion. With the consensus EPS estimate being $1.24, the EPS surprise was +4.03%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Paychex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Management Solutions: $1.02 billion compared to the $1.01 billion average estimate based on five analysts. The reported number represents a change of +6.7% year over year.
- Revenue- Interest on funds held for clients: $35.30 million compared to the $31.02 million average estimate based on five analysts. The reported number represents a change of +145.1% year over year.
- Revenue- Total service revenue: $1.35 billion versus $1.33 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +6.7% change.
- Revenue- PEO and Insurance Services: $321.20 million versus $317.24 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.
View all Key Company Metrics for Paychex here>>>
Shares of Paychex have returned -1.3% over the past month versus the Zacks S&P 500 composite's +0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could underperform the broader market in the near term.
(We are reissuing this article to correct a mistake. The original article, issued on March 30, 2023, should no longer be relied upon.)
Free Report: Must-See Energy Stocks for 2023
Record profits at oil companies can mean big gains for you. With soaring demand and elevated prices, oil stocks could be top performers by far in 2023. Zacks has released a special report revealing the 4 oil stocks experts believe will deliver the biggest gains. (You’ll never guess Stock #2!)
Download Oil Market on Fire today, absolutely free.
For the quarter ended February 2023, Paychex (PAYX - Free Report) reported revenue of $1.38 billion, up 8.2% over the same period last year. EPS came in at $1.29, compared to $1.15 in the year-ago quarter.
The reported revenue represents a surprise of +1.48% over the Zacks Consensus Estimate of $1.36 billion. With the consensus EPS estimate being $1.24, the EPS surprise was +4.03%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Paychex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for Paychex here>>>
Shares of Paychex have returned -1.3% over the past month versus the Zacks S&P 500 composite's +0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could underperform the broader market in the near term.
(We are reissuing this article to correct a mistake. The original article, issued on March 30, 2023, should no longer be relied upon.)
Free Report: Must-See Energy Stocks for 2023
Record profits at oil companies can mean big gains for you. With soaring demand and elevated prices, oil stocks could be top performers by far in 2023. Zacks has released a special report revealing the 4 oil stocks experts believe will deliver the biggest gains. (You’ll never guess Stock #2!)
Download Oil Market on Fire today, absolutely free.
Get the latest research report on PAYX - FREE