Dividend aristocrat ADP (ADP) reported adjusted EPS growth of 8% to $1.92 in its fiscal Q3-2020. Total revenues of $4.04 billion beat the consensus mark by 0.2% and improved 6% year over year. ADP is trading up +1% on the earnings results and the current dividend yield is 2.55%.
It will not be a surprise that ADP is revising its fiscal 2020 outlook in light of the expected impact from COVID-19. ADP expects revenues to grow with 3% compared with a prior growth rate of 6%. Adjusted EPS are anticipated to be in the range of 4% to 7% growth compared with the prior growth rate of 12% to 14%.
