The company said Management Solutions revenue rose $1.0 billion in Q3, up 2%, and $2.9 billion for the 9 months, up 4%. PEO and Insurance Solutions revenue rose $345.5 million in Q3, up 8%, and $939.0 million for the 9 months, up 7%.

1. 01

   The company said Management Solutions revenue rose $1.0 billion in Q3, up 2%, and $2.9 billion for the 9 months, up 4%. PEO and Insurance Solutions revenue rose $345.5 million in Q3, up 8%, and $939.0 million for the 9 months, up 7%.

2. 02

   Paychex said operating income rose 6% to $649.8 million in Q3 and 7% to $1.7 billion for the 9 months. It said total expenses increased 3% to $789.5 million in Q3 and 4% to $2.3 billion for the 9 months.

3. 03

   The company said interest on funds held for clients rose to $43.9 million in Q3, up 25%, and to $108.1 million for the 9 months, up 44%. It attributed the increases mainly to higher average interest rates.

4. 04

   The company said cash flow from operating activities was $1.7 billion for the 9 months. It also said it repurchased 1.5 million shares of its common stock at a weighted average price of $115.37 per share over the same period, and that its cumulative dividend increased from $2.37 to $2.67 per share.

Key figures

Quarter ended February 29, 2024

Revenue

$1.4B

Operating income

$650M

EPS

$1.38

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

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.