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Paychex, Inc. Reports Third Quarter Results

March 26, 2018

Third Quarter Fiscal 2018 Highlights

  • Total revenue increased 9% to $866.5 million.
    • Payroll service revenue increased 2% to $455.0 million.
    • Human Resource Services revenue increased 17% to $393.4 million.
    • Interest on funds held for clients increased 37% to $18.1 million.
  • Operating income decreased 5% to $292.5 million and adjusted operating income(1) increased 6% to $325.1 million.
  • Net income increased 29% to $260.4 million and adjusted net income(1) increased 14% to $227.5 million.
  • Diluted earnings per share increased 29% to $0.72 per share and adjusted diluted earnings per share(1) increased 15% to $0.63 per share.
  1. Adjusted operating income, adjusted net income, and adjusted diluted earnings per share are not United States (“U.S.”) generally accepted accounting principles (“GAAP”) measures.  Please refer to the “Non-GAAP Financial Measures” section starting on page 5 of this press release for a discussion of these non-GAAP measures and a reconciliation to the most comparable GAAP measures of operating income, net income, and diluted earnings per share.

Rochester, N.Y., (March 26, 2018) — Paychex, Inc. today announced total revenue of $866.5 million for the three months ended February 28, 2018, an increase of 9% from $795.8 million for the same period last year. The acquisition of HR Outsourcing Holdings, Inc., completed during August 2017, contributed approximately 3% to the total revenue growth for the third quarter. Net income and diluted earnings per share each increased 29% to $260.4 million and $0.72 per share, respectively, for the third quarter.

To view the full news release.

Laura Saxby Lynch
Director, Corporate Communications
585-383-3074

Laura Saxby Lynch

As director of corporate communications for Paychex, Laura Saxby Lynch leads a six-member team responsible for external communications, including media and public relations programs, as well as employee communications. Among her other responsibilities, Laura is a lead communicator in companywide initiatives, crisis and issues management, and community relations. She joined Paychex in January 2001 as the company’s first public relations manager after serving as the communications executive for a large non-profit and, prior to that, working as a television journalist. Laura is a graduate of St. Bonaventure University.