Automatic Data Processing, Inc. (ADP) Q1 2023 Earnings Call Transcript

Automatic Data Processing, Inc. (NASDAQ:ADP) Q1 2023 Earnings Conference Call October 26, 2022 8:30 AM ET

Company Participants

Danyal Hussain - Vice President, Investor Relations

Carlos Rodriguez - Chief Executive Officer

Maria Black - President

Don McGuire - Chief Financial Officer

Conference Call Participants

Peter Christiansen - Citigroup Inc.

Tien-Tsin Huang - JPMorgan

Kevin McVeigh - Credit Suisse

Kartik Mehta - Northcoast Research

Jason Kupferberg - Bank of America

Bryan Bergin - Cowen and Company

Samad Samana - Jefferies

Mark Marcon - Robert W. Baird

David Togut - Evercore ISI

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 First Quarter 2023 Earnings Call. I would like to inform you that this conference is being recorded. [Operator Instructions]

I will now turn the conference over to Mr. Danyal Hussain, Vice President, Investor Relations. Please go ahead.

Danyal Hussain

Thank you, Michelle, and welcome, everyone to ADP's first quarter fiscal 2023 earnings call. Participating today are Carlos Rodriguez, our CEO; Maria Black, our President; 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 a reconciliation of non-GAAP measures to their 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.

And with that, let me turn it over to Carlos.

Carlos Rodriguez

Thank you, Danny, and thanks, everybody, for joining the call. As you saw this morning in the news, we have a little bit more excitement than normal, but I promise you that 1.5 hours from now, we'll go back to our boring cells because we do have a business to run.

But before I talk about the quarter, I thought it was appropriate to just share a few thoughts given the transition from me to Maria as our new CEO. As you know, I'm going to continue as Exec Chair, but obviously, that's going to be a role primarily to supporting Maria and also helping the Board and not really involved in day-to-day operations. So it's definitely going to be my last earnings call, which is hard to say because it’s been 44 earnings calls for me. But it's really been an incredible ride.