ROSELAND (dpa-AFX) - Technology company Automatic Data Processing Inc. (ADP), while reporting higher first-quarter profit and revenues, on Wednesday raised fiscal 2027 outlook for adjusted earnings and revenue growth, and confirmed margin growth view.
In the pre-market activity on the Nasdaq, the shares were trading 0.81 percent higher at $295.49, after closing Tuesday's regular trading 2.66 percent lower.
For fiscal 2027, ADP now projects adjusted earnings per share growth of 10 percent to 12 percent, on revenue growth of around 6 percent.
ADP previously projected adjusted earnings per share growth of 9 to 11 percent on revenue growth of 5 to 6 percent.
Adjusted EBIT margin is still expected to increase 70 to 90 basis points.
In fiscal 2026, adjusted earnings per share were $11.12, adjusted EBIT margin was 26.8 percent, and revenues were $21.95 billion.
In the first quarter, ADP's bottom line came in at $1.125 billion or $2.83 per share, higher than last year's $1.013 billion or $2.49 per share.
Adjusted earnings were $1.123 billion or $2.82 per share for the period, compared to $2.49 per share a year ago.
Adjusted EBIT grew to $1.47 billion from last year's $1.32 billion. Adjusted EBIT improved 130 basis points.
The company's revenue for the period rose 6.1 percent to $5.491 billion from $5.175 billion last year.
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