Paychex Inc. has reiterated its guidance for the fiscal year ending May 31, 2018.
The company still expects human resource services revenue to increase by 12% to 14%, and total revenue is projected to jump by about 6%. Operating income as a percentage of total revenue is still expected to be in the region of 39% to 40%.
Net income is expected to increase about 5%, and adjusted net income is anticipated to increase about 7%. Additionally, diluted earnings per share is expected to increase in the range of 5% to 6% and adjusted diluted earnings per share is expected to increase in the range of 7% to 8%.
Paychex also reported net income of $217.0 million, or 60 cents per share, for the three months ending Nov. 30, up from $202.1 million, or 56 cents per share, a year earlier. Adjusted net income was $214.4 million, or 59 cents per share.
The S&P Capital IQ consensus normalized EPS estimate for the quarter was 59 cents.