Paychex Guides FY22 Above Estimates - Quick Facts

While reporting financial results for the fourth quarter and full year 2021 on Friday, payroll and HR services provider Paychex Inc. (PAYX) initiated its earnings and revenue growth guidance for the full year 2022, above analysts' estimates.

For fiscal 2022, the company now projects adjusted earnings per share to grow in the range of 10 to 12 percent on total revenues growth of grow approximately 7 percent.

Based adjusted earnings of $3.04 per share and total revenues of $4.06 billion reported for fiscal 2021, the guidance implies adjusted earnings in a range of $3.34 to $3.40 per share on total revenues of about $4.34 billion for fiscal 2022.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.21 per share on revenue growth of 6.2 percent to $4.26 billion for the year. Analysts' estimates typically exclude special items.

The company also said Management Solutions revenue is anticipated to grow approximately 7 percent as well as PEO and Insurance Solutions revenue is anticipated to grow in the range of 8 to 10 percent.

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