UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ FORM 10-Q ______________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number 1-5397 __________________________ AUTOMATIC DATA PROCESSING, INC. (Exact name of registrant as specified in i ...

Automatic Data Processing, Inc. (NASDAQ:ADP) Q1 2024 Earnings Conference Call October 25, 2023 8:30 AM ET Company Participants Danyal Hussain - VP, IR Maria Black - President & CEO Don McGuire - CFO Conference Call Participants Samad Samana - Jefferies Bryan Bergin - TD Cowen James Faucette - Morgan Stanley Bryan Keane - Deutsche Bank Ramsey El-Assal - Barclays Jason Kupferberg - Bank of America Tien-Tsin Huang - JPMorgan David Togut - Evercore ISI Mark Marcon - Baird Scott Wurtzel - Wolfe Research Operator ...

Copyright © 2023 ADP, Inc. ADP Earnings Call & Webcast Q1 Fiscal 2024 October 25, 2023 Forward Looking Statements This document and other written or oral statements made from time to time by ADP may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like "outlook," "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could," "is de ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ FORM 10-K _________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Year Ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number 1-5397 AUTOMATIC DATA PROCESSING, INC. (Exact name of registrant as specified in its charter) Delaware 22-1467904 (State or ot ...

Automatic Data Processing, Inc. (NASDAQ:ADP) Q4 2023 Earnings Conference Call July 26, 2023 8:30 AM ET Company Participants Danny Hussain - VP, IR Maria Black - President and CEO Don McGuire - CFO Conference Call Participants Owen Callahan - Barclays Samad Samana - Jefferies Bryan Bergin - TD Cowen Tien-Tsin Huang - JPMorgan Mark Marcon - Baird Eugene Simuni - MoffettNathanson Scott Wurtzel - Wolfe Research Peter Christiansen - Citi James Faucette - Morgan Stanley Kartik Mehta - Northcoast Research Operator ...

Copyright © 2023 ADP, Inc. ADP Earnings Call & Webcast Q4 Fiscal 2023 July 26, 2023 Forward Looking Statements This document and other written or oral statements made from time to time by ADP may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like "outlook," "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could," "is desig ...

Automatic Data Processing, Inc. (NASDAQ:ADP) Baird’s 2023 Global Consumer, Technology and Services Conference Call June 8, 2023 8:30 AM ET Company Participants Don McGuire - Chief Financial Officer Conference Call Participants Mark Marcon - Robert W. Baird & Co. Mark Marcon Good morning, everybody. I'm Mark Marcon. I follow Human Capital Technology & Solutions for Baird. Our next presenting company is ADP. As I think, virtually everybody knows, ADP is the largest provider of payroll and HCM solutions, certa ...

Automatic Data Processing, Inc. (NASDAQ:ADP) TD Cowen 51st Annual TMT Conference May 31, 2023 8:30 AM ET Company Participants Joe DeSilva - President of Global Sales Conference Call Participants Bryan Bergin - TD Cowen Bryan Bergin Let's get started here. My name is Bryan Bergin. I'm a services and HCM analyst here with TD Cowen. First off welcome to TD Cowen 51st Annual TMT Conference. I appreciate everybody joining us today and for this great two day event. ADP really needs no introduction, among the most ...

Automatic Data Processing, Inc. (NASDAQ:ADP) 51st Annual J.P. Morgan Global Technology, Media and Communications Conference May 22, 2023 8:00 AM ET Company Participants Maria Black - President and Chief Executive Officer Conference Call Participants Tien-Tsin Huang - JPMorgan Tien-Tsin Huang Thanks, everybody, for joining for the opening session. My name is Tien-Tsin Huang. I follow the payments processing in the IT services sector at JPMorgan. I was really excited to have ADP kick off the tech conference f ...

Revenue Growth - Total revenues for the three months ended March 31, 2023, were $4,927.8 million, representing a year-over-year growth of 9%[100] - For the nine months ended March 31, 2023, total revenues increased to $13,534.4 million, with a year-over-year growth of 9%[100] - The pays per control metric grew by 5% for the nine months ended March 31, 2023, compared to the same period in 2022[97] - Average worksite employees in PEO services increased by 8% for the nine months ended March 31, 2023, compared to the same period in 2022[97] - Employer Services revenues increased to $3,339.1 million for the three months ended March 31, 2023, an 11% increase from $3,002.0 million in 2022[120] - PEO Services revenues reached $1,592.0 million for the three months ended March 31, 2023, a 5% increase from $1,513.8 million in 2022[124] Earnings and Profitability - Adjusted EBIT for the three months ended March 31, 2023, was $1,372.3 million, reflecting a 14% year-over-year increase[111] - The EBIT margin for the three months ended March 31, 2023, improved to 27.7%, up 130 basis points from the previous year[111] - For the three months ended March 31, 2023, net earnings increased to $1,043.1 million, a 12% year-over-year growth from $928.5 million in 2022[117] - Diluted EPS for the three months ended March 31, 2023, rose to $2.51, reflecting a 14% increase compared to $2.21 in the same period of 2022[117] - Adjusted net earnings for the three months ended March 31, 2023, were $1,047.8 million, up 13% from $929.5 million in 2022[117] - Employer Services' earnings before income taxes increased by 14% for the three months ended March 31, 2023, driven by revenue growth[122] - PEO Services' earnings before income taxes increased by 15% for the three months ended March 31, 2023, due to increased revenues and lower state unemployment insurance costs[125] - The margin for Employer Services improved to 37.3% for the three months ended March 31, 2023, compared to 36.5% in 2022, reflecting an 80 basis points increase[121] - The margin for PEO Services increased to 16.4% for the three months ended March 31, 2023, up from 15.0% in 2022, representing a 140 basis points improvement[121] Cash Flow and Shareholder Returns - Cash returned to shareholders amounted to $2.2 billion, including $1.4 billion in dividends and $0.8 billion in share repurchases[95] - Cash provided by operating activities increased to $3,021.9 million for the three months ended March 31, 2023, up from $2,186.6 million in the same period of 2022, a change of $835.3 million[139] - The company purchased approximately 3.5 million shares of common stock at an average price of $231.45 during the nine months ended March 31, 2023[141] - The company repurchased approximately 3.5 million shares at an average price of $231.45 during the nine months ended March 31, 2023, compared to 7.0 million shares at $213.17 in the prior year[141] Tax and Effective Tax Rate - The effective tax rate for the three months ended March 31, 2023, was 23.5%, up from 22.0% in 2022, primarily due to higher reserves for uncertain tax positions[113] - The adjusted effective tax rate for the three months ended March 31, 2023, was 23.5%, compared to 22.0% in the same period of the previous year[132] Investment and Capital Expenditures - Capital expenditures for the nine months ended March 31, 2023, were $142.8 million, compared to $126.3 million for the same period in 2022, with expectations for fiscal 2023 between $175 million and $200 million[147] - The investment portfolio includes $3.0 billion of senior unsecured notes maturing in 2025, 2028, and 2030, with plans to refinance existing debt as needed[142] - Client funds investment strategy aims to maximize interest income while maintaining liquidity, with a maximum maturity of 10 years for investments[150] Market and Credit Risk - The company limits credit risk by investing primarily in AAA-rated and AA-rated securities, as rated by major credit agencies[158] - The company is exposed to market risk from changes in foreign currency exchange rates, which could impact consolidated results of operations[159] Financial Position and Liquidity - Cash and cash equivalents as of March 31, 2023, totaled $1.8 billion, primarily invested in time deposits and money market funds[136] - The company has $9.7 billion of committed credit facilities available to meet operating, investing, and financing activities[136] - The company has $9.7 billion available under revolving credit agreements, with no borrowings through March 31, 2023[145] - Average daily borrowings increased to $1.5 billion in Q1 2023 from $1.2 billion in Q1 2022, and for the nine months, it rose to $3.2 billion from $1.7 billion[144] - Weighted average interest rates for the three months ended March 31, 2023, were 4.5%, significantly up from 0.1% in the same period last year[144] Securities and Investment Performance - Total available-for-sale securities at fair value were $29.7 billion as of March 31, 2023, compared to $28.4 billion as of June 30, 2022[157] - Net unrealized pre-tax losses on available-for-sale securities were $(1.9 billion) as of March 31, 2023, compared to $(1.7 billion) as of June 30, 2022[157] - The annualized interest rate earned on the entire portfolio increased from 1.3% for the nine months ended March 31, 2022, to 2.2% for the nine months ended March 31, 2023[157] - A hypothetical 25 basis points increase in both short-term and intermediate-term interest rates would result in approximately a $12 million impact to earnings before income taxes over the next twelve months[157] - A hypothetical 25 basis points increase in only short-term interest rates would result in approximately a $5 million impact to earnings before income taxes over the next twelve months[157] Accounting and Reporting - The financial statements are prepared in accordance with U.S. GAAP, requiring management to make estimates and judgments that affect reported amounts[161] - Recent accounting pronouncements are discussed in Note 2 of the Consolidated Financial Statements[162]