Ceridian HCM Sees Q4 Revenue $398M-$401M Vs $393.39M Est.; FY23 Revenue $1.512B-$1.515B Vs $1.5B Est.
Portfolio Pulse from Benzinga Newsdesk
Ceridian HCM has issued its Q4 and FY23 guidance, expecting revenues of $398M-$401M and $1.512B-$1.515B respectively, both exceeding estimates. The company anticipates an 18%-19% increase in Q4 revenue and a 21%-22% increase in FY23 revenue. Dayforce recurring revenue is expected to grow by 29%-30% in Q4 and 28% in FY23. Tax migration from legacy infrastructure to the Dayforce platform is expected to contribute significantly to growth.
November 01, 2023 | 12:23 pm
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POSITIVE IMPACT
Ceridian HCM's revenue guidance for Q4 and FY23 exceeds estimates, indicating strong performance. The expected growth in Dayforce recurring revenue and the contribution from tax migration to the Dayforce platform could positively impact the stock.
Ceridian's revenue guidance exceeding estimates indicates strong performance and potential growth. The expected increase in Dayforce recurring revenue and the contribution from tax migration to the Dayforce platform are positive indicators for the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100