Automatic Data Processing, Inc. (ADP) Q2 2023 Earnings Call Transcript

Automatic Data Processing, Inc. (NASDAQ:ADP) Q2 2023 Earnings Conference Call January 25, 2023 8:30 AM ET

Company Participants

Danyal Hussain - VP, IR

Maria Black - President, CEO & Director

Don McGuire - CFO

Conference Call Participants

Ramsey Clark El-Assal - Barclays Bank

Eugene Simuni - MoffettNathanson

James Faucette - Morgan Stanley

Tien-Tsin Huang - JPMorgan Chase & Co.

Kartik Mehta - Northcoast Research Partners

Jason Kupferberg - Bank of America Merrill Lynch

Mark Marcon - Robert W. Baird & Co.

Bryan Bergin - Cowen and Company

Samad Samana - Jefferies

Operator

Good morning. My name is Michelle, and I'll be your conference operator. At this time, I would like to welcome everyone to ADP's Second Quarter Fiscal 2023 Earnings Call.

I would like to inform you that this conference is being recorded. [Operator Instructions]. I would now like to turn the call over to Mr. Danyal Hussain, Vice President, Investor Relations. Please go ahead.

Danyal Hussain

Thank you, Michelle, and welcome everyone to ADP's Second Quarter Fiscal 2023 Earnings Call. Participating today are Maria Black, our President and CEO; and Don McGuire, our CFO.

Earlier this morning, we released our results for the quarter. Our earnings materials are available on the SEC's website and our Investor Relations website at investors.adp.com, where you will also find the investor presentation that accompanies today's call.

During our call, we will reference non-GAAP financial measures, which we believe to be useful to investors and that exclude the impact of certain items. A description of these items, along with the reconciliation of non-GAAP measures to the most comparable GAAP measures can be found in our earnings release.

Today's call will also contain forward-looking statements that refer to future events and involve some risk. We encourage you to review our filings with the SEC for additional information on factors that could cause actual results to differ materially from our current expectations.

I'll turn it over now to Maria.

Maria Black

Thank you, Danny, and thank you, everyone, for joining us. ADP delivered strong Q2 results headlined by 10% organic constant currency revenue growth; 120 basis points of adjusted EBIT margin expansion; and 19% adjusted EPS growth. We continue to deliver exceptional value in the HCM market as we invest in ourselves and innovate to continuously meet and exceed the changing needs of our more than 1 million diverse, local clients.