Paychex sees FY23 EPS growth of of 13%-14%, consensu $4.24

The company’s outlook for the fiscal year ending May 31, or FY23 incorporates current assumptions and market conditions. Changes in the macroeconomic environment could alter our guidance. With consideration of these impacts, we have updated our guidance as follows: Management Solutions revenue is now anticipated to grow by approximately 8%; Interest on funds held for clients is now expected to be in the range of $100M to $105M; Other income is now anticipated to be in the range of $10M to $15M; Adjusted diluted earnings per share is now anticipated to grow in the range of 13% to 14%.