FONT-SIZE Plus   Neg

Paychex Lifts FY18 Revenue Outlook

Paychex Inc. (PAYX) said that it updated guidance for the fiscal year ending May 31, 2018 as a result of its acquisition of HROI and to reflect the net discrete tax benefit related to employee stock-based compensation payments recognized in the first quarter.

The company expects HRS revenue to increase in the range of 12% to 14%, compared to prior outlook of 8% to 10% growth.

Total revenue is expected to grow approximately 6%. Previously, the company expected total revenue, including interest on funds held for clients, to increase approximately 5%.

Operating income as a percent of total revenue is anticipated to be in the range of 39% to 40%.

The company noted that Other aspects of its guidance for fiscal 2018 remain unchanged from what it provided previously. The company expected adjusted net income to increase approximately 7%; and adjusted earnings per share to increase in the range of 7% to 8%.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
American Express Co. said that beginning in April 2018, card members will not be required to sign receipts for their credit card purchases. The company thus joins other major card companies such as Mastercard Inc. and Discover Financial Services Inc., who have previously announced similar changes. Costco members can now enjoy MoviePass subscription service and Fandor streaming service for $89.99. The subscription will be for one year. The offer will be available on Costco website for up to December 18. The annual subscription will offer access to Fandor's library of more than 5000 films and... A Houston woman has said that Spirit Airlines Inc. kicked her family off a flight Friday morning as she did not immediately stop breastfeeding her 2-year-old son. Mei Rui, a concert pianist and cancer researcher, said she was asked by flight attendants to stop breastfeeding her son and put him into his own seat for takeoff.
comments powered by Disqus
Follow RTT