ADP earnings date and guidance
ADP’s next results are expected on October 28, 2026. Watch whether customer activity, profitable growth and efficiency support the annual promise.
What has ADP guided for fiscal 2027?
On July 29, 2026, ADP forecast revenue growth of 5.0%–6.0% and adjusted diluted EPS growth of 9.0%–11.0%. Adjusted diluted earnings per share means profit per share after specified exclusions, while allowing for potential additional shares. ADP also expects adjusted EBIT margin to expand by 70–90 basis points. That means keeping more operating profit from each dollar of revenue, so efficiency can do some of the work that hiring cannot.
The employment assumptions are restrained. Pays per control, which measures employee growth inside existing payroll customers, should rise only 0.0%–1.0%. Employer Services bookings should grow 4.0%–7.0%, but a booking is only a new commitment. A customer that signs for payroll software may produce little revenue until ADP installs and activates the service. Retention is also expected to weaken by 10–30 basis points, leaving pricing, new customers and efficiency to carry more of the forecast.
| The period guided | Low | High | The date it was given | |
|---|---|---|---|---|
| Revenue growth (%) | Year to Jun 2027 | 5.0% | 6.0% | Jul 29, 2026 |
| Adjusted EBIT margin expansion (basis points) | Year to Jun 2027 | 70 | 90 | Jul 29, 2026 |
| Adjusted diluted EPS growth (%) | Year to Jun 2027 | 9.0% | 11.0% | Jul 29, 2026 |
| Employer Services new business bookings growth (%) | Year to Jun 2027 | 4.0% | 7.0% | Jul 29, 2026 |
| Increase in U.S. pays per control (%) | Year to Jun 2027 | 0.0% | 1.0% | Jul 29, 2026 |
| PEO Services revenue, excluding zero-margin benefits pass-throughs, growth (%) | Year to Jun 2027 | 3.0% | 5.0% | Jul 29, 2026 |
Did ADP keep its past promises?
Management’s public guidance provides another test. It forecast revenue growth of 5%–6% for fiscal 2026. It forecast adjusted earnings-per-share growth of 8%–10%. It delivered 7% revenue growth and 11% adjusted earnings-per-share growth. Those results support a record of delivery, although guidance and the internal bonus scorecard use different definitions.
What were ADP’s results over the last eight quarters?
The June 2026 quarter showed continued growth, but profit and cash grew less comfortably.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,473.8 | 5,939.2 | 5,359.3 | 5,175.2 | 5,126.8 | 5,553.0 | 5,048.4 | 4,832.7 |
| Operating income | 1,259.0 | 1,785.5 | 1,401.5 | 1,332.8 | 1,206.7 | 1,633.0 | 1,299.8 | 1,272.3 |
| Net income | 978.6 | 1,359.8 | 1,062.0 | 1,013.0 | 910.6 | 1,249.5 | 963.2 | 956.3 |
| EPS, diluted | 2.45 | 3.38 | 2.62 | 2.49 | 2.23 | 3.06 | 2.35 | 2.34 |
| Cash from operations | 1,428.0 | 2,238.0 | 1,132.9 | 642.3 | 1,439.2 | 1,525.8 | 1,150.3 | 824.4 |
| = Free cash flow | 1,239.1 | 2,044.1 | 991.4 | 501.5 | 1,303.6 | 1,388.3 | 1,016.1 | 684.7 |
What this means. Free cash flow is the cash left after buying equipment and software, so it is different from profit.
What should investors watch in ADP’s next release?
The most revealing comparison will be between customer activity and financial growth. If earnings strengthen while hiring remains subdued, client-funds interest, service efficiency and the share count may explain why. In PEO Services, revenue excluding benefits pass-throughs should be compared with segment profit, because higher benefits charges can enlarge revenue without improving the underlying service.