The earnings call highlighted strong revenue growth and successful integration of Paycor, along with increased client retention and solid financial health. However, macroeconomic uncertainties and specific challenges in Florida's at-risk medical plan were noted as concerns. The balance of positive growth indicators and external challenges suggests a neutral sentiment.

Company Guidance -

Q1 2026

During Paychex's Fourth Quarter Fiscal 2025 Earnings Call, key guidance metrics were provided, showcasing the company's robust performance and strategic direction. Paychex achieved a 10% revenue growth in the fourth quarter, driven by the integration of Paycor and strong execution across its business segments. For the full fiscal year 2025, revenue growth was 6%, with adjusted diluted earnings per share also increasing by 6%. The company expanded its client base to approximately 800,000 and increased HR outsourcing worksite employees to 2.5 million. Paychex's acquisition of Paycor significantly contributed to these results, surpassing integration expectations and positioning the company for future success. The company anticipates $90 million in cost synergies in fiscal year 2026 due to the acquisition. Looking ahead, Paychex forecasts total revenue growth of 16.5% to 18.5% for fiscal 2026, with Paycor contributing 12 to 13 percentage points to this growth. Adjusted operating income margin is expected to be approximately 43%, and adjusted diluted earnings per share are projected to grow between 8.5% and 10.5%. The company remains focused on cross-selling opportunities, particularly in Paycor's client base, to drive additional revenue synergies over the coming years.

Revenue Growth and Integration Success

Paychex delivered 10% revenue growth in Q4 and 6% for the fiscal year 2025, with 6% growth in adjusted diluted EPS. The integration of Paycor has been successful, with cost synergy expectations raised to $90 million for fiscal year '26.

Client Retention and Expansion

Client retention rates increased year-over-year. Paychex grew its client base to approximately 800,000 and increased the number of HR outsourcing worksite employees to 2.5 million.

Strong Financial Position

Paychex's financial position remains strong with $1.7 billion in cash and investments, and a robust annual return on equity of 42%. Cash flow from operations was $2 billion for the fiscal year.

PEO Business Performance

The PEO business achieved solid worksite employee growth, despite some headwinds in specific plans.

Paychex (PAYX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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PAYX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 24, 2025	2026 (Q1)	1.21 / -	1.16	―	―	―
Jun 25, 2025	2025 (Q4)	1.19 / 1.19	1.12	6.25% (+0.07)
Mar 26, 2025	2025 (Q3)	1.48 / 1.49	1.38	7.97% (+0.11)
Dec 19, 2024	2025 (Q2)	1.12 / 1.14	1.08	5.56% (+0.06)
Oct 01, 2024	2025 (Q1)	1.14 / 1.16	1.14	1.75% (+0.02)
Jun 26, 2024	2024 (Q4)	1.10 / 1.12	0.97	15.46% (+0.15)
Apr 02, 2024	2024 (Q3)	1.38 / 1.38	1.29	6.98% (+0.09)
Dec 21, 2023	2024 (Q2)	1.07 / 1.08	0.99	9.09% (+0.09)
Sep 27, 2023	2024 (Q1)	1.12 / 1.14	1.03	10.68% (+0.11)
Jun 29, 2023	2023 (Q4)	0.97 / 0.97	0.81	19.75% (+0.16)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PAYX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 25, 2025	$151.10	$136.90	-9.40%
Mar 26, 2025	$142.03	$148.00	+4.20%
Dec 19, 2024	$133.00	$134.91	+1.44%
Oct 01, 2024	$130.50	$136.92	+4.92%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.