Ceridian HCM Sees Q4 Revenue $398M-$401M Vs $393.39M Est.; FY23 Revenue $1.512B-$1.515B Vs $1.5B Est.

Author: Benzinga Newsdesk | November 01, 2023 08:23am

Business Outlook

Based on information available as of November 1, 2023, Ceridian is issuing the following guidance for the fourth quarter and full year of 2023 as indicated below. Comparisons are on a year-over-year basis, unless stated otherwise.

Fourth Quarter 2023 Guidance

• Total revenue of $398 million to $401 million, an increase of 18% to 19% on a GAAP and a constant currency basis.
• Dayforce recurring revenue, excluding float, of $255 million to $257 million, an increase of 29% to 30% on a GAAP and a constant currency basis.
  • Tax migration from legacy infrastructure to the same platform as Dayforce is expected to contribute approximately 430 basis points of growth.
• Float revenue of $39 million.
• Adjusted EBITDA of $97 million to $99 million.

Full Year 2023 Guidance

• Total revenue of $1,512 million to $1,515 million, an increase of 21% to 22%, or 23% on a constant currency basis.
• Dayforce recurring revenue, excluding float, of $962 million to $964 million, an increase of 28%, or 29% on a constant currency basis.
  • Tax migration from legacy infrastructure to the same platform as Dayforce is expected to contribute approximately 480 basis points of growth.
• Float revenue of $166.5 million.
  • Adjusted EBITDA of $408 million to $410 million.

Posted In: CDAY