Dayforce Expects Q1 Revenue of $424M-$427M Vs $427.81M Est, FY24 Revenue of $1.72B-$1.73B Vs $1.74B Est
Portfolio Pulse from Benzinga Newsdesk
Dayforce projects Q1 2024 revenue to be between $424M-$427M, slightly below the $427.81M estimate, and forecasts FY24 revenue of $1.72B-$1.73B, under the $1.74B estimate. The company anticipates a 14%-15% year-over-year revenue increase for Q1 and a 14% increase for FY24, with Dayforce recurring revenue expected to grow 20%-22% in Q1 and 20%-21% for the full year. Adjusted EBITDA is projected at $123M-$126M for Q1 and $480M-$495M for FY24, reflecting investments in global expansion and the Dayforce platform scaling.
February 07, 2024 | 1:12 pm
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Dayforce anticipates Q1 2024 revenue slightly below estimates and FY24 revenue under expectations, with a focus on global HCM expansion and platform scaling.
The slight miss in revenue forecasts for both Q1 2024 and FY24 compared to estimates may concern investors, potentially leading to short-term negative sentiment. However, the company's investment in global expansion and platform scaling could offset concerns over the long term.
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