Automatic Data Processing (Nasdaq: ADP ) reported earnings on May 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q3), Automatic Data Processing met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. GAAP earnings per share grew.
Gross margins expanded, operating margins grew, net margins shrank.
Revenue details
Automatic Data Processing reported revenue of $3.11 billion. The 20 analysts polled by S&P Capital IQ wanted to see revenue of $3.11 billion on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $2.79 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
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EPS details
EPS came in at $0.99. The 25 earnings estimates compiled by S&P Capital IQ averaged $0.98 per share. GAAP EPS of $0.99 for Q3 were 7.6% higher than the prior-year quarter's $0.92 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 51.3%, 200 basis points better than the prior-year quarter. Operating margin was 22.9%, 260 basis points better than the prior-year quarter. Net margin was 15.5%, 70 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Looking ahead
Next quarter's average estimate for revenue is $2.82 billion. On the bottom line, the average EPS estimate is $0.58.
Next year's average estimate for revenue is $11.31 billion. The average EPS estimate is $2.91.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,095 members out of 1,156 rating the stock outperform, and 61 members rating it underperform. Among 400 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 391 give Automatic Data Processing a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Automatic Data Processing is outperform, with an average price target of $63.55.
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