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Paychex (PAYX) Q3 2021 Earnings Call Transcript


Operator
Good day and thank you for standing by. Welcome to the Paychex third-quarter fiscal-year 2021 conference call. At this time, all participants are in a listen-only mode. After the speakers presentation, there will be a question-and-answer session.
[Operator instructions] I would now like to hand the conference over to your speaker today, Martin Mucci. Please go ahead.
Marty Mucci
President and Chief Executive Officer
Thank you, and thank you for joining us for our discussion of the Paychex third-quarter fiscal 2021 earnings release. Joining me today is Efrain Rivera, our chief financial officer. And this morning, before the market opened, we released our financial results for the third quarter ended February 28, 2021. You can access our earnings release on our investor relations website and our Form 10-Q will be filed with the SEC within the next few days. ....

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Paychex, Inc. Reports Second Quarter Results


Second Quarter Fiscal 2021 Key Points
The Company raises guidance as second quarter results reflect sequential improvement in financial performance and key business metrics.
Diluted earnings per share and adjusted diluted earnings per share
(1) each increased 4% to $0.75 per share and $0.73 per share, respectively.
Second quarter service revenue was consistent with the prior year period at $968.9 million, compared to a year-over-year decrease of 6% in the first quarter.
Management Solutions revenue increased 1% to $732.8 million.
Total revenue decreased 1% to $983.7 million.
(1) Adjusted diluted earnings per share and adjusted net income are not United States (“U.S.”) generally accepted accounting principles (“GAAP”) measures. Please refer to the “Non-GAAP Financial Measures” section on page 4 of this press release for a discussion of these non-GAAP measures and a reconciliation to the most comparable U.S. GAAP measures of diluted earnings p ....

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