Paychex (NASDAQ: PAYX): Q2 2020 Earnings Snapshot

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— Paychex, Inc. (NASDAQ: PAYX) reported adjusted earnings of $0.70 per share for the second quarter of 2020, vs. $0.68 per share expected.

Paychex (NASDAQ: PAYX): Q2 2020 Earnings Snapshot

— Net income rose to $258.7 million or $0.72 per share from $235.8 million or $0.65 per share in the second quarter of 2019

— At $990.7 billion, second-quarter revenues were up 15% from last year, vs. $987.65 billion analysts expected

— Earnings before interest, taxes, depreciation, and amortization increased 16% to $398.8 million

— Total expenses increased 18% to $649.0 million in Q2, compared to the same period last year

— Repurchased 2 million shares of common stock for a total of $171.9 million during the year-to-date period

— Expects Management Solutions revenue to grow in the range of 5% to 5.5% in fiscal 2020

— Sees full-year PEO and Insurance Services revenue increasing between 25% and 30%

— Expects earnings per share to grow in the range of 9% to 10% in the whole of 2020

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