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For the first quarter of 2023, Ceridian expects total revenue between $359 million and $363 million, which indicates an increase of 22-24% on a GAAP basis and 25-26% on a constant currency basis.
For the first quarter, the Zacks Consensus Estimate for earnings is pegged at 33 cents per share compared to the 13 cents per share reported in the year-ago quarter.
The consensus mark for revenues stands at $360.8 million, suggesting an increase of 23% from the year-ago quarter.
Ceridian’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 74.25%.
Let’s see how things have shaped up prior to this announcement.
Factors to Note
Ceridian’s first-quarter performance is likely to have benefited from the continuous expansion of the Dayforce target market and expanding its global payroll capabilities.
Dayforce revenues are expected to be in the range of $222-$224 million, which indicates an increase of 23-24% on a GAAP basis and 25-26% on a constant currency basis.
Dayforce is a single solution with a single database and single continuous calculation engine, which offers greater efficiencies and compliance than any other solution in the market will likely to have benefited the company’s upcoming quarter results.
Ceridian is expected to have benefited from its ongoing calculation engine that helped in the creation of the Dayforce Wallet, which enables employees to receive payment at their convenience. This enhances the employees’ financial stability and lowers employee turnover rates, as well as reduces costs for the company’s clients.
However, challenging macroeconomic conditions, unfavorable forex and rising interest rates are expected to have hurt the top-line growth of the company in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Ceridian has an Earnings ESP of +9.09% and a Zacks Rank #3 currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these too have the right combination of elements to beat on earnings in their upcoming releases:
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Ceridian HCM (CDAY) to Post Q1 Earnings: What to Expect
Ceridian HCM Holding is slated to release its first-quarter fiscal 2023 results on May 3.
For the first quarter of 2023, Ceridian expects total revenue between $359 million and $363 million, which indicates an increase of 22-24% on a GAAP basis and 25-26% on a constant currency basis.
For the first quarter, the Zacks Consensus Estimate for earnings is pegged at 33 cents per share compared to the 13 cents per share reported in the year-ago quarter.
The consensus mark for revenues stands at $360.8 million, suggesting an increase of 23% from the year-ago quarter.
Ceridian’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 74.25%.
Ceridian HCM Price and EPS Surprise
Ceridian HCM price-eps-surprise | Ceridian HCM Quote
Let’s see how things have shaped up prior to this announcement.
Factors to Note
Ceridian’s first-quarter performance is likely to have benefited from the continuous expansion of the Dayforce target market and expanding its global payroll capabilities.
Dayforce revenues are expected to be in the range of $222-$224 million, which indicates an increase of 23-24% on a GAAP basis and 25-26% on a constant currency basis.
Dayforce is a single solution with a single database and single continuous calculation engine, which offers greater efficiencies and compliance than any other solution in the market will likely to have benefited the company’s upcoming quarter results.
Ceridian is expected to have benefited from its ongoing calculation engine that helped in the creation of the Dayforce Wallet, which enables employees to receive payment at their convenience. This enhances the employees’ financial stability and lowers employee turnover rates, as well as reduces costs for the company’s clients.
However, challenging macroeconomic conditions, unfavorable forex and rising interest rates are expected to have hurt the top-line growth of the company in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Ceridian has an Earnings ESP of +9.09% and a Zacks Rank #3 currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these too have the right combination of elements to beat on earnings in their upcoming releases:
DigitalOcean (DOCN - Free Report) has an Earnings ESP of +2.3% and a Zacks Rank of 2, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
DigitalOcean shares have declined 23.2% in the past year. DOCN is scheduled to release its first-quarter 2023 results on May 9.
Bill Holdings, Inc. (BILL - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank #3 at present.
Bill Holdings, Inc. shares have fallen 57.1% in the past year. BILL is set to report its third-quarter fiscal 2023 results on May 4.
Airbnb (ABNB - Free Report) has an Earnings ESP of +23.46% and a Zacks Rank #3 at present.
Airbnb shares have gained 16.2% in the past year. ABNB is scheduled to report its first-quarter 2023 results on May 9.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.