Second Quarter Highlights and Financial Results Fiscal 2022 PAYCHEX Forward Looking Statements You should be aware that certain written and oral statements made by management may constitute "forward-looking statements" within the meaning of the safe-harbor provisions of the United States ("U.S.") Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 31, 2021 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 0-11330 _____________________________ ...

First Quarter Highlights and Financial Results Fiscal 2022 PAYCHEX Forward Looking Statements You should be aware that certain written and oral statements made by management may constitute "forward-looking statements" within the meaning of the safe-harbor provisions of the United States ("U.S.") Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and ...

Financial Data and Key Metrics Changes - Total revenue increased by 16% to $1.1 billion, with service revenue also up by 16% [28][4] - Adjusted diluted earnings per share rose by 41% to $0.89, with adjusted net income increasing by 42% to $323 million [33][4] - Operating income increased by 56% to $443 million, with an operating margin of 41%, up from 33.8% in the prior year [32][4] - Cash flow from operations was $386 million, a 79% increase year-over-year, while free cash flow was $354 million, up 83% [36] Business Line Data and Key Metrics Changes - Management Solutions revenue increased by 17% to $805 million, while PEO and Insurance Solutions revenue rose by 14% to $263 million [29] - Interest on funds held for clients decreased by 3% due to lower average interest rates [29] Market Data and Key Metrics Changes - The company reported a net increase in worksite employees within its existing HR outsourcing client base, particularly in ASO offerings [5] - Client retention rates remained near record levels, reflecting the resilience of small businesses [5] Company Strategy and Development Direction - The company continues to invest in its sales force and digital marketing initiatives, positioning itself well for the upcoming selling season [7] - Investments in technology, including AI and machine learning, are aimed at enhancing the capabilities of its software platform, Paychex Flex [7] - The introduction of new offerings, such as Paychex Pre-Check, aims to automate payroll processes and improve client services [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong start to fiscal year 2022, despite uncertainties in the macroeconomic environment [21] - The company anticipates total revenue growth of approximately 8% for the fiscal year, with adjusted operating income expected to be in the range of 38% to 39% [39][41] Other Important Information - The company has assisted clients in securing over $65 billion in Paycheck Protection loans, representing 9% of total PPP loans provided [17] - Paychex has been recognized for its innovative HR technology solutions, winning multiple awards [13][15] Q&A Session All Questions and Answers Question: Can you flesh out your thinking on the remaining 3 quarters of the year? - Management indicated that additional hiring and a stable unemployment picture are factored into their guidance, which remains conservative due to macroeconomic uncertainties [48][50] Question: What are the biggest drivers of the margin beat in the quarter? - Management noted that expenses are flat compared to 2020, with efficiency improvements and delayed hiring contributing to the margin performance [56][59] Question: How did demand trend within the quarter? - Management reported consistent demand throughout the quarter, with strong performance in mid-market and digital sales [66][67] Question: Can you comment on the PEO performance versus insurance performance in the quarter? - Both PEO and ASO are growing well, with increased interest in insurance plans as companies focus on employee retention [88][90] Question: How has the sales distribution changed as a result of digital improvements? - The company has seen a shift towards digital sales, which now account for a larger percentage of client acquisition compared to traditional methods [96][98]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________________________ FORM 10-K _________________________________________ x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 31, 2021 ¨ 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 0-11330 ____________________________________ Payche ...

Paychex, Inc. (NASDAQ:PAYX) Q4 2021 Earnings Conference Call June 25, 2021 9:30 AM ET Company Participants Martin Mucci - President and Chief Executive Officer Efrain Rivera - Chief Financial Officer Conference Call Participants David Togut - Evercore Ramsey El-Assal - Barclays Jason Kupferberg - Bank of America Bryan Bergin - Cowen Bryan Keane - Deutsche Bank Eugene Simuni - MoffettNathanson Kartik Mehta - Northcoast Research Samad Samana - Jefferies Andrew Nicholas - William Blair Jeff Silber - BMO Capita ...

Financial Performance - Q4 FY21 - Service revenues increased by 14% to $1015 million compared to $890 million in Q4 FY20 [9] - Adjusted Operating Income increased by 18% to $354 million compared to $300 million in Q4 FY20 [11] - Adjusted Diluted EPS increased by 18% to $072 compared to $061 in Q4 FY20 [11] Financial Performance - Full Year FY21 - Service revenues increased by 1% to $3997 million compared to $3954 million in FY20 [22] - Adjusted Operating Income increased by 2% to $1493 million compared to $1461 million in FY20 [24] - Adjusted Diluted EPS increased by 1% to $304 compared to $300 in FY20 [24] Business Highlights - Payroll client base grew by 4% year-over-year [19] - HR Solutions and PEO client worksite employee growth of 18% year-over-year [19] - Returned $318 million to shareholders during the quarter in the form of dividends and share repurchases [19] Fiscal Year 2022 Outlook - Total Revenue is expected to grow by approximately 7% year-over-year [51] - Adjusted Diluted EPS is expected to grow by 10% - 12% year-over-year [51]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ For the Transition Period from __________to __________ Commission file number 0-11330 __________________________________________________ Paychex, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 911 Panorama Trail South Rochester, NY (Address of principal executi ...

Paychex, Inc. (NASDAQ:PAYX) Q3 2021 Earnings Conference Call April 6, 2021 9:30 AM ET Company Participants Martin Mucci - President and Chief Executive Officer Efrain Rivera - Senior Vice President, Chief Financial Officer, and Treasurer Conference Call Participants David Togut - Evercore ISI Ramsey El-Assal - Barclays Capital Kevin McVeigh - Credit Suisse Bryan Bergin - Cowen and Company Andrew Nicholas - William Blair Mihir Bhatia - Bank of America Merrill Lynch Jeffrey Silber - BMO Capital Markets Kartik ...

Third Quarter Highlights and Financial Results Fiscal 2021 PAYCHEX HR | Payroll | Benefits | Insurance Forward Looking Statements You should be aware that certain written and oral statements made by management may constitute "forward-looking statements" within the meaning of the safe-harbor provisions of the United States ("U.S.") Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our ...