Paychex(US:PAYX)2024-10-01 13:35Financial Performance - Total revenue increased by 3% to $1.319 billion in Q1 FY25, compared to $1.286 billion in Q1 FY24[5] - Adjusted diluted EPS grew by 2% to $1.16 in Q1 FY25, compared to $1.14 in Q1 FY24[5] - Excluding the expiration of ERTC and one fewer processing day, revenue grew by 7%[9] - Net cash and equivalents stand at $735 million[5] - The company returned $457 million to shareholders, including $353 million in dividends and $104 million through share repurchases[10] Revenue Drivers - Management Solutions revenue increased by 7% to $319 million, driven by growth in clients and higher product penetration[8] - PEO & Insurance Solutions revenue increased by 1% to $962 million, driven by growth in average PEO worksite employees and PEO insurance revenues[8] - Interest on Funds Held for Clients increased by 15% to $38 million due to higher average interest rates and investment balances[8] Fiscal Year 2025 Outlook - The company anticipates total revenue growth of 40% - 55% for fiscal year 2025[18] - Adjusted diluted EPS growth is projected to be 5% - 7%[18] - Interest on Funds Held for Clients is expected to be between $145 million and $155 million[18]