Citable filing context

ADP filing events and research context

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ADP's research view summarizes recent SEC filing context, starting with debt_offering from May 7, 2026.

ADP filing events and research context
FiledItemContext
May 7, 2026debt_offeringADP issued $1 billion of 5.000% senior notes due 2036.
Apr 29, 2026earningsADP reported Q3 FY26 revenues of $5.9B (up 7%), net earnings of $1.4B (up 9%), and raised full-year guidance.
Jan 28, 2026earningsADP reported Q2 fiscal 2026 revenues of $5.4B, net earnings of $1.1B, and EPS of $2.62, raising full-year guidance.
Apr 29, 2026Guidance: adjusted_diluted_eps_growth10.00 to 11.00
Apr 29, 2026Guidance: adjusted_ebit_margin_expansion70.00 to 80.00
Apr 29, 2026Guidance: adjusted_effective_tax_rate23.00 to not reported
Apr 30, 2026mda_quarterlyADP reported robust financial performance for the three and nine months ended March 31, 2026, with total revenues up 7% (6% organic constant currency) and diluted EPS growing 10%. EBIT margin expanded by 80 basis points for the quarter and 50 basis points for the nine-month period. Revenue growth stemmed from new business, strong client retention, pricing, and a 13.7% increase in interest on funds held for clients, driven by higher average balances and rates. The Employer Services segment's revenues rose 7% (5% organic constant currency), with margin expansion from client funds interest, lower client contract amortization, and operating efficiencies, despite increased selling and marketing. PEO Services revenues grew 7% for the quarter, supported by a 2% increase in average worksite employees and higher zero-margin benefits pass-throughs, but its margin decreased due to elevated selling and marketing, state unemployment insurance costs, and a reduced ADP Indemnity benefit. Operating expenses increased due to PEO pass-throughs and service/implementation costs. Research and development rose, partly from the October 2024 WorkForce Software acquisition. ADP maintains a strong financial position with $3.2 billion in cash and $10.6 billion in committed credit facilities. The company returned $3.4 billion to shareholders via dividends and share repurchases, buying back 5.7 million shares over nine months. Its client funds investment strategy, using highly liquid, investment-grade securities with laddered maturities, is supported by short-term financing. A 25 basis point interest rate change impacts annual EBIT by approximately $20 million.
Jan 29, 2026mda_quarterlyADP delivered robust financial results for the six months ended December 31, 2025, with total revenues climbing 7% to $10,534.5 million (6% organic constant currency) and diluted EPS increasing 9% to $5.12. Adjusted EBIT margin expanded by 40 basis points. Revenue growth was significantly bolstered by a rise in interest on funds held for clients, reaching $595.5 million, driven by higher average client funds balances and an improved average interest rate of 3.3%. The Employer Services segment reported a 7% revenue increase and 7% EBIT growth, maintaining stable margins. Conversely, the PEO Services segment's EBIT declined 1% despite a 6% revenue increase, primarily due to elevated zero-margin benefits pass-through costs and increased selling and marketing expenses, resulting in a 100 basis point margin contraction. PEO also recognized a pre-tax loss of $(2.7) million for the three months from workers' compensation reserves. ADP continues strategic investments in HCM technology, including Next Gen solutions and the acquisition of WorkForce Software in October 2024. The company's financial position remains strong, supported by $2.4 billion in cash, $10.6 billion in credit facilities, and a commercial paper program. Shareholder returns totaled $2.1 billion, comprising $1.3 billion in dividends and $0.9 billion in share repurchases. The client funds investment strategy, which ladders maturities up to 10 years, carries interest rate risk, with a 25 basis point shift potentially impacting EBIT by $23 million annually.

Source: SEC EDGAR filing text and events; period May 7, 2026; filed May 7, 2026.

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