Paychex, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended May 31, 2024
June 26, 2024 at 06:00 pm IST
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Paychex, Inc. reported earnings results for the fourth quarter and full year ended May 31, 2024. For the fourth quarter, the company reported revenue was USD 1,295.1 million compared to USD 1,229.6 million a year ago. Net income was USD 379.9 million compared to USD 350.4 million a year ago. Basic earnings per share from continuing operations was USD 1.06 compared to USD 0.97 a year ago. Diluted earnings per share from continuing operations was USD 1.05 compared to USD 0.97 a year ago.
For the full year, revenue was USD 5,278.3 million compared to USD 5,007.1 million a year ago. Net income was USD 1,690.4 million compared to USD 1,557.3 million a year ago. Basic earnings per share from continuing operations was USD 4.69 compared to USD 4.32 a year ago. Diluted earnings per share from continuing operations was USD 4.67 compared to USD 4.3 a year ago.
Paychex, Inc. specializes in the development of integrated management software packages (ERP). The group also offers outsourcing services for small and mid-size companies. Net sales break down by activity sector as follows:
- payroll and human resources management solutions (74.5%): management solutions for payroll, internal accounting data, taxes, employee benefits, pensions, etc.;
- HR management solutions for professional employer organizations (23.5%): health insurance management, risk management and risk management, employee assistance schemes, etc.;
- fund management (2%).
All sales are in the United States.