Paychex Q3 Adj. EPS $1.38 Beats $1.37 Estimate, Sales $1.44B Miss $1.46B Estimate
Portfolio Pulse from Benzinga Newsdesk
Paychex reported Q3 adjusted EPS of $1.38, surpassing the $1.37 estimate, marking a 6.98% increase from last year. However, their sales of $1.44B fell short of the $1.46B estimate, a 4.20% increase from the previous year.
April 02, 2024 | 12:31 pm
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NEUTRAL IMPACT
Paychex's Q3 earnings surpassed estimates with an EPS of $1.38, but sales missed expectations at $1.44B.
The mixed results with an earnings beat but a slight miss on revenue forecasts could lead to neutral short-term stock movement. Investors may weigh the positive earnings growth against the slight revenue shortfall, leading to uncertain short-term price direction.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100