Automatic Data Processing Non-GAAP EPS of $1.86 beats by $0.07, revenue of $4.2B beats by $40M, raises FY22 outlook
Automatic Data Processing press release (NASDAQ:ADP): Q1 Non-GAAP EPS of $1.86  beats by $0.07.
Revenue of $4.2B (+9.7% Y/Y)  beats by $40M.

Consolidated Fiscal 2023 Outlook
â¢Revenue growth of 8% to 9% from prior outlook of 7% to 9% vs. 8.36% consensus
â¢Adjusted EBIT margin expansion of 125 to 150 basis points
â¢Adjusted effective tax rate of approximately 23.0%
â¢Diluted EPS growth of 15% to 17% 


â¢Adjusted diluted EPS growth of 15% to 17% from prior outlook of 13% to 16% vs. 14.42% consensus
Employer Services Segment Fiscal 2023 Outlook
â¢Employer Services revenue growth of 7% to 8%
â¢Employer Services margin expansion of 200 to 225 basis points
â¢Employer Services new business bookings growth of 6% to 9%
â¢Employer Services client revenue retention decrease of 25 to 50 basis points
â¢Increase in U.S. pays per control of 2% to 3%
PEO Services Segment Fiscal 2023 Outlook
â¢PEO Services revenue growth of 10% to 12%
â¢PEO Services revenue, excluding zero-margin benefits pass-throughs, growth of 10% to 12%
â¢PEO Services margin of flat to up 25 basis points
â¢PEO Services average worksite employee count growth of 8% to 10%.