The following is a summary of the Automatic Data Processing, Inc. (ADP) Q3 2024 Earnings Call Transcript:
Financial Performance:
Automatic Data Processing reported Q3 with a strong 7% revenue growth and 14% adjusted diluted EPS growth.
Employer Services delivered 8% revenue growth on a reported basis and 7% on an organic constant currency basis.
PEO revenue growth was 5% for the third quarter.
Business Progress:
ADP made progress, including the rollout of ADP Assist and a new tool for their implementation teams.
The company sees significant growth potential in international markets, especially in Asia.
Plans include leveraging generative AI to optimize product distribution and expanding use of Next-Gen payroll to international markets.
Investments in their small business portfolio, retirement services offering, and GenAI are expected to drive growth.
Despite recent hurdles, the company remains positive about the growth and demand for its Professional Employer Organization (PEO) business.
More details: Automatic Data Processing IR
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