The company said revenue for fiscal 2024 rose 7% (6% on an organic constant currency basis) and adjusted EBIT margin expanded 70 basis points. Diluted EPS and adjusted diluted EPS rose 11% and 12% to $9.10 and $9.18, respectively.

10-KAnnual reportFiled Aug 7, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said revenue for fiscal 2024 rose 7% (6% on an organic constant currency basis) and adjusted EBIT margin expanded 70 basis points. Diluted EPS and adjusted diluted EPS rose 11% and 12% to $9.10 and $9.18, respectively.
The company said total revenues in fiscal 2024 included $1,024.7 million of interest on funds held for clients, compared with $813.4 million in fiscal 2023. It attributed the increase to a rise in its average interest rate earned from 2.4% to 2.9%, coupled with a 3.6% increase in its average client funds balances to $35.4 billion.
Automatic Data Processing said PEO Services' earnings before income taxes decreased 6% in fiscal 2024. The company cited less favorable actuarial loss development in workers' compensation reserves at ADP Indemnity, which was $70.0 million less favorable than in the prior year, higher selling expenses, and higher zero-margin benefits pass-through costs as the drivers.
Automatic Data Processing said shareholder returns totaled $3.4B in fiscal 2024, consisting of $2.2B in dividends and $1.2B in share repurchases. The company also said it repurchased about 5.1 million shares in fiscal 2024 and that capital expenditures were $211.7 million.

Key figures

Fiscal year ended June 30, 2024

Revenue: $19.2B
Net income: $3.8B
EPS: $9.10
Operating cash flow: $4.2B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Annual revenue up 7%, adjusted EBIT margin expands 70 basis points

The company said revenue for fiscal 2024 rose 7% (6% on an organic constant currency basis) and adjusted EBIT margin expanded 70 basis points. Diluted EPS and adjusted diluted EPS rose 11% and 12% to $9.10 and $9.18, respectively.

Source · Based on the MD&A text of the filing

Interest income on client funds $1,024.7 million

The company said total revenues in fiscal 2024 included $1,024.7 million of interest on funds held for clients, compared with $813.4 million in fiscal 2023. It attributed the increase to a rise in its average interest rate earned from 2.4% to 2.9%, coupled with a 3.6% increase in its average client funds balances to $35.4 billion.

Source · Based on the MD&A text of the filing

PEO Services pretax earnings down 6%

Automatic Data Processing said PEO Services' earnings before income taxes decreased 6% in fiscal 2024. The company cited less favorable actuarial loss development in workers' compensation reserves at ADP Indemnity, which was $70.0 million less favorable than in the prior year, higher selling expenses, and higher zero-margin benefits pass-through costs as the drivers.

Source · Based on the MD&A text of the filing

Shareholder returns $3.4B, dividends $2.2B and buybacks $1.2B

Automatic Data Processing said shareholder returns totaled $3.4B in fiscal 2024, consisting of $2.2B in dividends and $1.2B in share repurchases. The company also said it repurchased about 5.1 million shares in fiscal 2024 and that capital expenditures were $211.7 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.