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Paychex Updates FY20 Guidance - Quick Facts

Paychex, Inc. (PAYX) has updated its guidance for the fiscal year ending May 31, 2020 as a result of current business trends. Adjusted net income and adjusted earnings per share are both expected to increase approximately 9 percent. In June, the company projected adjusted net income and adjusted earnings per share to increase in the range of 8 percent to 9 percent.

For the first-quarter, adjusted earnings per share rose 6 percent year-on-year to $0.71. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.68, for the quarter. Analysts' estimates typically exclude special items.

First-quarter total revenue increased 15 percent to $992.0 million. Analysts expected revenue of $991.13 million for the quarter. Management Solutions revenue was $724.5 million for the first quarter, a 5 percent increase from last year.

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