Paychex(US:PAYX)2021-09-30 18:58Financial Performance - Service revenues increased by 16% to $1,068 million in Q1 FY22, compared to $917 million in Q1 FY21[9] - Adjusted operating income increased by 41% to $443 million in Q1 FY22, compared to $315 million in Q1 FY21[9] - Adjusted diluted EPS increased by 41% to $0.89 in Q1 FY22, compared to $0.63 in Q1 FY21[9] - Total revenue increased by 16% to $1,082.9 million for the three months ended August 31, 2021[38] - The company paid $238 million of dividends to shareholders during the quarter[14] Business Highlights - The company has >710,000 clients as of May 31, 2021[5] - Management Solutions revenue increased by 17% due to client base growth and higher revenue per client[11] - PEO & Insurance Solutions revenue increased by 14% due to an increase in average PEO worksite employees and higher state unemployment insurance revenues[11] - Total debt, net of debt issuance costs, was $804.5 million as of August 31, 2021[31] Fiscal Year 2022 Outlook - The company anticipates Management Solutions Revenue to grow by approximately 7% year-over-year[34] - The company anticipates PEO & Insurance Solutions Revenue to grow by 8% - 10% year-over-year[34] - The company anticipates Total Revenue to grow by approximately 7% year-over-year[34] - The company anticipates Adjusted Diluted EPS to grow by 10% - 12% year-over-year[34]