Automatic Data Processing Guides for FY21 Revenue to Fall
29 July 2020 - 10:00PM
Dow Jones News
By Allison Prang
Automatic Data Processing Inc. expects revenue to slip this
fiscal year.
The company said it expects revenue for the fiscal 2021 year to
fall between 1% and 4% from revenue of $14.59 billion in the last
fiscal year. FactSet shows analysts are expecting $14.45
billion.
It is expecting its adjusted earnings to fall between 13% and
18% from the last fiscal year's $5.92 a share. Analysts are
expecting earnings of $5.69 a share for the 2021 fiscal year.
ADP also expects its adjusted earnings before interest and taxes
margin to fall about 300 basis points from the last fiscal year
when it was 23%.
The company said it expects its adjusted effective tax rate to
increase to 23.1%, up from 22.6% in the last fiscal year.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 29, 2020 07:45 ET (11:45 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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