Paychex Non-GAAP EPS of $1.03 beats by $0.06, revenue of $1.21B beats by $40M, raises FY earning outlook
Paychex press release (NASDAQ:PAYX): Q1 Non-GAAP EPS of $1.03  beats by $0.06.
Revenue of $1.21B (+12.0% Y/Y)  beats by $40M.
Outlook: Total revenue is anticipated to grow in the range of 7% to 8% vs. consensus growth of +7.72%; Adjusted operating margin is anticipated to be in the range of 40% to 41%; Adjusted EBITDA margin is anticipated to be approximately 44%; Other expense, net is anticipated to be in the range of $5M to $10M; The effective income tax rate for fiscal 2023 is anticipated to be in the range of 24% to 25%; Adjusted diluted earnings per share is now anticipated to grow in the range of 11% to 12% from the prior range the range of 9% to 10% vs. consensus growth of 9.46%.