ADP Boosts FY21 Revenue Guidance; Now Sees Growth of 1% to 3%

By Allison Prang

Automatic Data Processing Inc. on Wednesday raised its fiscal 2021 outlook for revenue and said adjusted earnings could grow by as much as 2%.

The company now expects fiscal 2021 revenue to increase between 1% and 3%. It was expecting it to be between down 1% and up 1%.

For its Employer Services segment, the company expects revenue to be between flat to up 2%. It was expecting it to be between down 2% and flat. For PEO Services, the company expects revenue to rise between 3% and 5%. It had been expecting that segment's revenue to be between flat to up 3%.

ADP is expecting adjusted earnings to be between down 2% and up 2%. The company was expecting adjusted earnings to fall between 3% and 7%.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

January 27, 2021 07:34 ET (12:34 GMT)

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