Yahoo Finance Paychex Third Quarter 2023 Earnings: Beats Expectations
Paychex (NASDAQ:PAYX) Third Quarter 2023 Results
Key Financial Results
Revenue: US$1.38b (up 8.2% from 3Q 2022).
Net income: US$467.4m (up 8.5% from 3Q 2022).
Profit margin: 34% (in line with 3Q 2022).
EPS: US$1.30 (up from US$1.19 in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Paychex Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 3.6%.
Looking ahead, revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Professional Services industry in the US.
Performance of the American Professional Services industry.
The company's shares are up 5.2% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of Paychex's balance sheet and an in-depth analysis of the company's financial position.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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