Paychex Inc. (PAYX) announced a notable increase in its fourth-quarter earnings, surpassing both last year's performance and analysts' estimates.
For the fourth quarter, the company reported earnings of $379.9 million, or $1.05 per share, compared to $350.4 million, or $0.97 per share, in the same period last year.
When excluding special items, adjusted earnings amounted to $404.1 million, or $1.12 per share.
This performance exceeded the expectations of analysts polled by Thomson Reuters, who had projected earnings of $1.10 per share on average—estimates which typically exclude special items.
Revenue for the quarter grew by 5.7%, reaching $1.30 billion, up from $1.23 billion in the previous year.
Key Financial Metrics for Paychex Inc. (GAAP):
- Earnings for Q4: $379.9 million, up from $350.4 million last year.
- Earnings per share (EPS) for Q4: $1.05, compared to $0.97 last year.
- Revenue for Q4: $1.30 billion, compared to $1.23 billion last year.
