Paychex, Inc. (NASDAQ:PAYX) Q2 2025 Earnings Conference Call December 19, 2024 9:30 AM ET

Company Participants

Bob Schrader - CFO
John Gibson - President and CEO

Conference Call Participants

Mark Marcon - Baird
Bryan Bergin - TD Cowen
Ramsey El-Assal - Barclays
Andrew Nicholas - William Blair
Michael Infante - Morgan Stanley
Bryan Keane - Deutsche Bank
Kevin McVeigh - UBS
Ashish Sabadra - RBC Capital Markets
Kartik Mehta - Northcoast Research
Scott Wurtzel - Wolfe Research
Jason Kupferberg - BofA Securities

Operator

Good morning, and welcome to the Second Quarter Fiscal 2025 Paychex Earnings Conference Call. Participating on the call today are John Gibson and Bob Schrader. After the speakers’ opening remarks there will be a question-and-answer period.

[Operator Instructions] As a reminder, this conference is being recorded, and your participation implies consent to our recording of this call. If you do not agree with these terms, please disconnect at this time.

I would now like to turn the call over to Bob Schrader, Chief Financial Officer. Please go ahead.

Bob Schrader

Thank you for joining us for our review of the Paychex second quarter 2025 financial results. Joining me today is John Gibson, our Chief Executive Officer. This morning before the market opened, we released our financial results for the quarter ended November 30, 2024. You can access our earnings release and Investor Presentation on the SEC's website, as well as on our Investor Relations website. Our Form 10-Q will be filed with the SEC within the next couple of days. This teleconference is being broadcast over the Internet and will be archived and available on our website for approximately 90 days.

Today's call will contain forward-looking statements that refer to future events and involve some risks. We encourage you to review our filings with the SEC for additional information on factors that could cause actual results to differ from our current expectations. We will also reference some non-GAAP financial measures, a description of these items along with the reconciliation of the non-GAAP measures can be found in our earnings release.

I will now turn the call over to John.

John Gibson

Thanks, Bob. I will start today's call with an update on the business highlights for the second quarter and then I'll turn it back to Bob for a financial update and then, of course we'll open it up for your questions. We delivered solid results in the second quarter and the first half of the fiscal year. Excluding the impact of the expiration of the ERTC program, revenue growth was 7% in the second quarter, as we continue to deliver a comprehensive suite of HCM solutions that help businesses solve real problems.