Paychex, Inc. · PAYX · Next earnings

Paychex, Inc. reports Wednesday, Sep 23, 2026

PAYX reports before market open with consensus EPS at $1.32 and revenue at $1.63B. Last quarter: Paychex Closes FY26 With 17% Revenue Growth, Sets 5–6% FY27 Outlook

Reports Before market open3 days awayDate estimated Industrials

What the street expects

Consensus for the coming report
Consensus EPS $1.32 Calendar consensus
Consensus revenue $1.63B Calendar consensus
Report date Sep 23, 2026 Wednesday, date estimated
Session Before market open 3 days away

Where PAYX left off: FY2026 Q4

Full report

Paychex Closes FY26 With 17% Revenue Growth, Sets 5–6% FY27 Outlook

EPS surprise +0.8% Reported $1.32 vs $1.31
Revenue surprise +0.3% Reported $1.61B vs $1.60B
Stock move -1.7% Event window
Subsequent drift +14.9% Up to 20 sessions

FY27 outlook targets 5–6% revenue growth (down from FY26's 17%, reflecting the lap of Paycor acquisition revenue), adjusted operating margin of approximately 44%, and EPS growth of 7–9%. Guidance sentiment was maintained and management tone was confident. The prior quarter had seen an upward revision to interest-on-funds guidance; no new upward or downward revision was noted this quarter.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Flat employment levels and broader macroeconomic uncertainty could temper revenue growth.
  • Intense competition in the HCM and PEO space with high rivalry and no major competitive shifts noted.
  • Integration and cross-sell execution risk from the Paycor acquisition, particularly in the broker channel.
  • Healthcare cost inflation may pressure PEO profitability despite being a tailwind for revenue.
  • Uncertainty around the timing and scale of AI monetization and adoption across the client base.

Questions analysts left open

  • Sustainability of organic growth rates in the second half of FY27.
  • Timeline and revenue potential of Wise AI monetization.
  • Effectiveness of Paycor broker referrals and new national partnerships.
  • Impact of healthcare cost inflation on PEO margins.
  • Assumptions underlying flat to modest client-base growth and reliance on share-of-wallet expansion.

Ask FN2 about PAYX next report

Transcript, numbers and history already loaded
What should I watch for in PAYX's next earnings report?How did PAYX guide last quarter, and is consensus above or below that?Give me the bull and bear case going into PAYX earnings.

Free account. Your question opens in FN2 with this report's transcript and numbers attached.

Get the PAYX recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Recent PAYX quarters

All PAYX earnings
-1.7%FY2026 Q4

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q4

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.