ADP Projects FY24 Adj. EPS Growth In Range Of 10% To 12%

(RTTNews) - ADP (ADP) announced its fiscal 2024 consolidated outlook includes revenue growth of 6% to 7%, adjusted EBIT margin expansion of 60 to 80 basis points, and adjusted EPS growth of 10% to 12%.

Fourth quarter net earnings increased 24% to $777 million. EPS increased 25% to $1.87. Adjusted net earnings increased 25% to $781 million. Adjusted EPS increased 26% to $1.89. Analysts on average had expected the company to earn $1.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenues increased 8% to $4.5 billion and 9% on an organic constant currency basis. Analysts on average had estimated $4.39 billion in revenue.

Shares of ADP are up 1% in pre-market trade on Wednesday.

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