Paychex earnings for the company’s fiscal fourth quarter of 2019 have PAYX stock down on Wednesday.
Paychex (NASDAQ:PAYX) reported earnings per share of 63 cents for its fiscal fourth quarter of the year. This is up from the company’s earnings per share of 61 cents from the same time last year. However, it was bad news for PAYX stock by missing Wall Street’s earnings per share estimate of 64 cents for the quarter.
The Paychex earnings report for its fiscal fourth quarter of 2019 also includes net income of $230.40 million. This is an increase over the company’s net income of $217.70 million reported in its fiscal fourth quarter of 2018.
Operating income reported in the Paychex earnings release for its fiscal fourth quarter of the year comes in at $314.50 million. This is better than the company’s operating income of $302.10 million reported in the same period of the year prior.
The most recent Paychex earnings report has the company bringing in revenue of $980.40 million. That’s an improvement over the company’s revenue of $845.70 million reported in its fiscal fourth quarter of the previous year. It also has the company beating out analysts’ revenue estimate of $979.51 million for the period, but that couldn’t keep PAYX stock from falling.
Paychex also includes its outlook for its fiscal full year of 2020 in its most recent earnings report. It is expecting earnings per share for the year to increase by 8% to 9% from fiscal 2019. Wall Street is looking for earnings per share of $3.10 for the period.
PAYX stock was down 3% as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.