The company said Management Solutions revenue for fiscal 2024 rose 4% to $3.9 billion, and PEO and Insurance Solutions revenue increased 8% to $1.3 billion.

1. 01

   The company said Management Solutions revenue for fiscal 2024 rose 4% to $3.9 billion, and PEO and Insurance Solutions revenue increased 8% to $1.3 billion.

2. 02

   Paychex said interest on funds held for clients for fiscal 2024 increased 47% to $146.3 million. It cited higher average interest rates, higher average investment balances, and lower realized losses on investment sales as factors.

3. 03

   The company said operating income for fiscal 2024 was $2.2 billion, an increase of 7% from fiscal 2023. Net income was $1.7 billion, diluted earnings per share were $4.67, and adjusted diluted earnings per share were $4.72.

4. 04

   Paychex said operating cash flow for fiscal 2024 was $1.9 billion. It paid dividends of $3.65 per share and repurchased 1.5 million shares at a weighted-average price of $115.37, which it retired immediately.

Key figures

Fiscal year ended May 31, 2024

Revenue

$5.1B

Operating income

$2.2B

EPS

$4.67

Operating cash flow

$1.9B

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.

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.