Paycom Software: Strong Q4 2024 Earnings Ahead, Conference Call Set
Monday, Jan 20, 2025 9:32 am ET
3min read Paycom Software, Inc. (NYSE: PAYC) has announced its fourth quarter and year-end 2024 earnings release date and conference call, scheduled for February 12, after market close. The company will host a conference call at 5 p.m. Eastern time on the same day to discuss the results. The conference call will be accessible via phone and webcast at investors.paycom.com. For those unable to attend, a replay will be available from February 12 through February 19. A web-based archive of the call will also be maintained on the company's investor website.
Paycom Software, Inc. is a leading provider of comprehensive, cloud-based human capital management software. The company's earnings release and conference call will provide investors and analysts with an update on its financial performance and strategic initiatives for the fourth quarter and full year 2024.
In the third quarter of 2024, Paycom reported solid financial results, with both the top and bottom lines surpassing the Zacks Consensus Estimate and improving year over year. The company reported non-GAAP earnings of $1.93 per share in the fourth quarter, beating the Zacks Consensus Estimate of $1.78. The bottom line improved 11.56% from $1.73 per share reported in the year-ago quarter. In the fourth quarter of 2024, Paycom reported revenues of $434.6 million, beating the consensus mark of $422.6 million. The top line improved 19.4% year over year. The top-line figure also surpassed management's previous guidance of $420-$425 million, primarily driven by new logo wins, partially offset by a dip in cross-selling to the existing clients.
PAYC Basic EPS YoY
| Name |
|---|
| Date |
| Basic EPS YoY% |
| Paycom SoftwarePAYC |
| 20240930 |
| 0.77 |
Paycom's recurring revenues, which represent 98.3% of the total revenues, improved 17.4% to $427.3 million in the fourth quarter. Our estimate for the company's recurring revenues was pegged at $414.8 million. The company's revenues from the Implementation and Other segment improved to $7.3 million from $6.6 million in the year-ago quarter and contributed 1.7% to total sales. Our estimate for the division's revenues was pegged at $7.7 million. Adjusted gross profits climbed 15.8% from the year-ago period to $362 million. However, the adjusted gross margin contracted 100 basis points (bps) on a year-over-year basis to 83.3%. Paycom's adjusted EBITDA increased 7.7% year over year to $176.6 million. The adjusted EBITDA margin contracted 360 bps to 40.6%.
Paycom's strong financial performance in the third quarter of 2024 sets the stage for a positive earnings report in the fourth quarter. Investors and analysts will be closely watching the company's earnings release and conference call to gain insights into its financial performance and strategic initiatives for the coming year.
Action Alerts PLUS, which Cramer manages as a charitable trust, is long PAYC.
In conclusion, Paycom Software, Inc. has announced its fourth quarter and year-end 2024 earnings release date and conference call, scheduled for February 12, after market close. The company's strong financial performance in the third quarter of 2024 sets the stage for a positive earnings report in the fourth quarter. Investors and analysts will be closely watching the company's earnings release and conference call to gain insights into its financial performance and strategic initiatives for the coming year.
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