Paychex backs FY24 EPS view up 10%-11%, consensus $4.71

Sees FY24 revenue up 5%-6%, consensus $5.33B. The company said, “Our business outlook for the fiscal year ending May 31, 2024 (“fiscal 2024″) incorporates current assumptions and market conditions. Changes in the macroeconomic environment could alter our guidance. With consideration of these impacts, we have updated our business outlook as follows: Management Solutions revenue is now anticipated to grow in the range of 3.5% to 4.0%. Total revenue is now anticipated to grow in the range of 5% to 6%. Other income, net is now anticipated to be in the range of $40 million to $45 million. Other aspects of our guidance for fiscal 2024 remain unchanged from what we provided previously.”